IRIS Accounts Production v24.2.0.383 13268244 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh132682442023-03-31132682442024-03-31132682442023-04-012024-03-31132682442022-03-31132682442022-04-012023-03-31132682442023-03-3113268244ns15:EnglandWales2023-04-012024-03-3113268244ns14:PoundSterling2023-04-012024-03-3113268244ns10:Director12023-04-012024-03-3113268244ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3113268244ns10:SmallEntities2023-04-012024-03-3113268244ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3113268244ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3113268244ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3113268244ns10:FullAccounts2023-04-012024-03-3113268244ns10:OrdinaryShareClass12023-04-012024-03-3113268244ns10:Director32023-04-012024-03-3113268244ns10:RegisteredOffice2023-04-012024-03-3113268244ns5:CurrentFinancialInstruments2024-03-3113268244ns5:CurrentFinancialInstruments2023-03-3113268244ns5:Non-currentFinancialInstruments2024-03-3113268244ns5:Non-currentFinancialInstruments2023-03-3113268244ns5:ShareCapital2024-03-3113268244ns5:ShareCapital2023-03-3113268244ns5:RetainedEarningsAccumulatedLosses2024-03-3113268244ns5:RetainedEarningsAccumulatedLosses2023-03-3113268244ns5:PlantMachinery2023-04-012024-03-3113268244ns5:MotorVehicles2023-04-012024-03-3113268244ns5:PlantMachinery2023-03-3113268244ns5:MotorVehicles2023-03-3113268244ns5:ComputerEquipment2023-03-3113268244ns5:ComputerEquipment2023-04-012024-03-3113268244ns5:PlantMachinery2024-03-3113268244ns5:MotorVehicles2024-03-3113268244ns5:ComputerEquipment2024-03-3113268244ns5:PlantMachinery2023-03-3113268244ns5:MotorVehicles2023-03-3113268244ns5:ComputerEquipment2023-03-3113268244ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3113268244ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3113268244ns5:DeferredTaxation2023-03-3113268244ns5:DeferredTaxation2023-04-012024-03-3113268244ns5:DeferredTaxation2024-03-3113268244ns10:OrdinaryShareClass12024-03-3113268244ns5:RetainedEarningsAccumulatedLosses2023-03-3113268244ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-31
REGISTERED NUMBER: 13268244 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Walters & Sons Electrical Contractors
Ltd

Walters & Sons Electrical Contractors
Ltd (Registered number: 13268244)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Walters & Sons Electrical Contractors
Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M Walters
M Walters





REGISTERED OFFICE: 17 Chequers Road
Writtle
Chelmsford
Essex
CM1 3NG





REGISTERED NUMBER: 13268244 (England and Wales)





ACCOUNTANTS: Peter Hodgson & Co.
Chartered Accountants
Shadwell House
65 Lower Green Road
Tunbridge Wells
Kent
TN4 8TW

Walters & Sons Electrical Contractors
Ltd (Registered number: 13268244)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 45,356 58,208

CURRENT ASSETS
Debtors 5 35,791 39,201
Cash at bank 408 4,929
36,199 44,130
CREDITORS
Amounts falling due within one year 6 44,675 34,579
NET CURRENT (LIABILITIES)/ASSETS (8,476 ) 9,551
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,880

67,759

CREDITORS
Amounts falling due after more than one
year

7

(21,825

)

(35,416

)

PROVISIONS FOR LIABILITIES 8 (8,617 ) (11,060 )
NET ASSETS 6,438 21,283

CAPITAL AND RESERVES
Called up share capital 9 3 3
Retained earnings 10 6,435 21,280
SHAREHOLDERS' FUNDS 6,438 21,283

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Walters & Sons Electrical Contractors
Ltd (Registered number: 13268244)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 September 2024 and were signed on its behalf by:





M Walters - Director


Walters & Sons Electrical Contractors
Ltd (Registered number: 13268244)

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

1. STATUTORY INFORMATION

Walters & Sons Electrical Contractors Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
There are no significant judgements or estimates pertaining to these accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
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
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.

Functional currency
The company's functional currency is £ sterling.

Financial instruments
Basic financial instruments comprising debtors, bank and cash balances are recorded at fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Walters & Sons Electrical Contractors
Ltd (Registered number: 13268244)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 24,527 49,017 2,829 76,373
Additions 2,267 - - 2,267
At 31 March 2024 26,794 49,017 2,829 78,640
DEPRECIATION
At 1 April 2023 6,852 10,606 707 18,165
Charge for year 4,986 9,602 531 15,119
At 31 March 2024 11,838 20,208 1,238 33,284
NET BOOK VALUE
At 31 March 2024 14,956 28,809 1,591 45,356
At 31 March 2023 17,675 38,411 2,122 58,208

Included in fixed assets are motor vehicles which have been financed under hire purchase contracts. The book value of these assets at the period end was £28,809 and the finance outstanding was £35,416.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 34,941 35,459
Other debtors - 3,473
VAT 850 269
35,791 39,201

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 13,591 6,608
Trade creditors 5,507 3,478
Tax 18,536 20,736
Social security and other taxes 3,729 1,683
Directors' current accounts 1,512 -
Accrued expenses 1,800 2,074
44,675 34,579

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 21,825 35,416

Walters & Sons Electrical Contractors
Ltd (Registered number: 13268244)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 8,617 11,060

Deferred
tax
£   
Balance at 1 April 2023 11,060
Provided during year (2,443 )
Balance at 31 March 2024 8,617

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
3 Ordinary £1 3 3

10. RESERVES
Retained
earnings
£   

At 1 April 2023 21,280
Profit for the year 55,155
Dividends (70,000 )
At 31 March 2024 6,435