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Registration number: 05545008

L. J. Electrical of Loughborough Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

L. J. Electrical of Loughborough Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

L. J. Electrical of Loughborough Ltd

Company Information

Director

L J Davies

Company secretary

Miss N D Barlow

Registered office

26 Edelin Road
Loughborough
Leicestershire
LE11 2HP

Accountants

Alex Kinley AIMS Accountant
75 Swingbridge Road
Loughborough
LEICS
LE11 5JB

 

L. J. Electrical of Loughborough Ltd

(Registration number: 05545008)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Intangible assets

4

 

25,000

 

25,000

Tangible assets

5

 

13,778

 

16,690

   

38,778

 

41,690

Current assets

   

 

Debtors

6

21,502

 

34,244

 

Cash at bank and in hand

 

1,007

 

3,755

 

 

22,509

 

37,999

 

Creditors: Amounts falling due within one year

7

(50,881)

 

(66,340)

 

Net current liabilities

   

(28,372)

 

(28,341)

Total assets less current liabilities

   

10,406

 

13,349

Creditors: Amounts falling due after more than one year

7

 

-

 

(2,273)

Provisions for liabilities

 

(132)

 

(132)

Net assets

   

10,274

 

10,944

Capital and reserves

   

 

Called up share capital

8

100

 

100

 

Retained earnings

10,174

 

10,844

 

Shareholders' funds

   

10,274

 

10,944

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

L. J. Electrical of Loughborough Ltd

(Registration number: 05545008)
Balance Sheet as at 31 March 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 September 2024
 

.........................................
L J Davies
Director

 

L. J. Electrical of Loughborough Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
26 Edelin Road
Loughborough
Leicestershire
LE11 2HP

These financial statements were authorised for issue by the director on 27 September 2024.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Asset class

Depreciation method and rate

Plant and machinery etc

25% on reducing balance and 20% on reducing balance

Motor vehicle

33% on reducing balance

 

L. J. Electrical of Loughborough Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws
that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Leases

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

L. J. Electrical of Loughborough Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

25,000

25,000

At 31 March 2024

25,000

25,000

Amortisation

Carrying amount

At 31 March 2024

25,000

25,000

At 31 March 2023

25,000

25,000

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

4,259

12,667

4,454

33,804

55,184

Additions

-

-

1,378

-

1,378

At 31 March 2024

4,259

12,667

5,832

33,804

56,562

Depreciation

At 1 April 2023

4,125

8,734

2,908

22,727

38,494

Charge for the year

33

1,311

731

2,215

4,290

At 31 March 2024

4,158

10,045

3,639

24,942

42,784

Carrying amount

At 31 March 2024

101

2,622

2,193

8,862

13,778

At 31 March 2023

134

3,933

1,546

11,077

16,690

6

Debtors

 

L. J. Electrical of Loughborough Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Current

2024
£

2023
£

Trade debtors

13,485

23,557

Prepayments

983

407

Other debtors

7,034

10,280

 

21,502

34,244

 

L. J. Electrical of Loughborough Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

34,700

40,100

Trade creditors

 

12,929

6,308

Taxation and social security

 

903

10,399

Accruals and deferred income

 

-

800

Other creditors

 

2,349

8,733

 

50,881

66,340

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

-

2,273

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

-

2,273

 

L. J. Electrical of Loughborough Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2024
£

2023
£

Current loans and borrowings

Bank borrowings

34,700

40,100