2022-10-012023-09-302023-09-30false00558175S.E.C. ELECTRICAL 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S.E.C. ELECTRICAL LIMITED

Registered Number
00558175
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2023

S.E.C. ELECTRICAL LIMITED
Company Information
for the year from 1 October 2022 to 30 September 2023

Directors

Gary Gray
Craig Shepperdson

Registered Address

48 St. James Mill Road
Northampton
NN5 5JP

Registered Number

00558175 (England and Wales)
S.E.C. ELECTRICAL LIMITED
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets36,3698,020
6,3698,020
Current assets
Stocks416,00016,000
Debtors51,007,0281,289,697
Cash at bank and on hand10,191161,765
1,033,2191,467,462
Creditors amounts falling due within one year6(525,816)(921,784)
Net current assets (liabilities)507,403545,678
Total assets less current liabilities513,772553,698
Creditors amounts falling due after one year7(23,333)(33,333)
Net assets490,439520,365
Capital and reserves
Called up share capital1,0001,000
Profit and loss account489,439519,365
Shareholders' funds490,439520,365
The financial statements were approved and authorised for issue by the Board of Directors on 25 June 2024, and are signed on its behalf by:
Craig Shepperdson
Director
Gary Gray
Director

Registered Company No. 00558175
S.E.C. ELECTRICAL LIMITED
Notes to the Financial Statements
for the year ended 30 September 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year1420
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 October 221,5324,27535,15840,965
At 30 September 231,5324,27535,15840,965
Depreciation and impairment
At 01 October 221,1363,32428,48532,945
Charge for year792381,3341,651
At 30 September 231,2153,56229,81934,596
Net book value
At 30 September 233177135,3396,369
At 30 September 223969516,6738,020
4.Stocks

2023

2022

££
Other stocks16,00016,000
Total16,00016,000
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables733,421987,537
Other debtors270,674297,331
Prepayments and accrued income2,9334,829
Total1,007,0281,289,697
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables445,426882,257
Bank borrowings and overdrafts10,00010,000
Taxation and social security47,560-
Other creditors4,22911,581
Accrued liabilities and deferred income18,60117,946
Total525,816921,784
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts23,33333,333
Total23,33333,333