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Registered Number: 13013749
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 March 2024

for

NIS ELECTRICAL LIMITED

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 61,766    23,553 
61,766    23,553 
Current assets      
Stocks 13,424    4,725 
Debtors 98,698    73,725 
Cash at bank and in hand 50,254    44,580 
162,376    123,030 
Creditors: amount falling due within one year (48,266)   (42,269)
Net current assets 114,110    80,761 
 
Total assets less current liabilities 175,876    104,314 
Creditors: amount falling due after more than one year (52,982)   (18,183)
Net assets 122,894    86,131 
 

Capital and reserves
     
Called up share capital 4 200    200 
Profit and loss account 122,694    85,931 
Shareholders' funds 122,894    86,131 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 12 September 2024 and were signed by:


-------------------------------
Jordan Papps
Director
1
General Information
NIS Electrical Limited is a private company, limited by shares, registered in England and Wales, registration number 13013749, registration address Pi House, 40a London Road, Gloucester, Gloucester, GL1 3NU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
Motor Vehicles 25% Reducing Balance
Computer Equipment 33% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 April 2023 766    36,500    1,757    39,023 
Additions 2,012    57,000    656    59,668 
Disposals      
At 31 March 2024 2,778    93,500    2,413    98,691 
Depreciation
At 01 April 2023 284    14,600    586    15,470 
Charge for year 926    19,725    804    21,455 
On disposals      
At 31 March 2024 1,210    34,325    1,390    36,925 
Net book values
Closing balance as at 31 March 2024 1,568    59,175    1,023    61,766 
Opening balance as at 01 April 2023 482    21,900    1,171    23,553 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100 Class B shares of £1.00 each 100    100 
200    200 

2