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REGISTERED NUMBER: 07714880 (England and Wales)















Sparks Electrical Installations Limited

Unaudited Financial Statements for the Year Ended 31 March 2024






Sparks Electrical Installations Limited (Registered number: 07714880)






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


Sparks Electrical Installations Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M Hawbrook
Mrs K L Hawbrook





SECRETARY:





REGISTERED OFFICE: Unit 9 Churchill Business Park
Sleaford Road
Bracebridge Heath
Lincoln
Lincolnshire
LN4 2FF





REGISTERED NUMBER: 07714880 (England and Wales)





ACCOUNTANTS: M.D. Cobb F.M.A.A.T.
Cobb & Co Accountants Limited
30 Sleaford Road
Bracebridge Heath
Lincoln
Lincolnshire
LN4 2ND

Sparks Electrical Installations Limited (Registered number: 07714880)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 34,229 16,654
34,229 16,654

CURRENT ASSETS
Stocks 6,236 8,839
Debtors 6 23,216 63,601
Cash at bank and in hand 109,344 65,797
138,796 138,237
CREDITORS
Amounts falling due within one year 7 58,485 65,161
NET CURRENT ASSETS 80,311 73,076
TOTAL ASSETS LESS CURRENT
LIABILITIES

114,540

89,730

PROVISIONS FOR LIABILITIES 6,504 3,164
NET ASSETS 108,036 86,566

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 107,836 86,366
SHAREHOLDERS' FUNDS 108,036 86,566

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.

Sparks Electrical Installations Limited (Registered number: 07714880)

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 17 September 2024 and were signed on its behalf by:




M Hawbrook - Director



Mrs K L Hawbrook - Director


Sparks Electrical Installations Limited (Registered number: 07714880)

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

1. STATUTORY INFORMATION

Sparks Electrical Installations Limited 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings and equipment - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Sparks Electrical Installations Limited (Registered number: 07714880)

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

2. ACCOUNTING POLICIES - continued
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.

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

Pension costs and other post-retirement benefits
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. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 17,224
AMORTISATION
At 1 April 2023
and 31 March 2024 17,224
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Sparks Electrical Installations Limited (Registered number: 07714880)

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

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
and Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 1,334 23,108 2,163 26,605
Additions - 24,500 255 24,755
At 31 March 2024 1,334 47,608 2,418 51,360
DEPRECIATION
At 1 April 2023 709 7,950 1,292 9,951
Charge for year 62 6,851 267 7,180
At 31 March 2024 771 14,801 1,559 17,131
NET BOOK VALUE
At 31 March 2024 563 32,807 859 34,229
At 31 March 2023 625 15,158 871 16,654

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 13,825 29,693
Other debtors 9,391 33,908
23,216 63,601

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 2,244 1,195
Taxation and social security 13,080 10,681
Other creditors 43,161 53,285
58,485 65,161

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £32,000 (2023 - £32,000) were paid to the directors .

9. ULTIMATE CONTROLLING PARTY

The directors control 80% of the issued share capital of the company.