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REGISTERED NUMBER: 06994867 (England and Wales)















Ashmead Electrical Ltd

Unaudited Financial Statements for the Year Ended 31 January 2024






Ashmead Electrical Ltd (Registered number: 06994867)






Contents of the Financial Statements
for the year ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ashmead Electrical Ltd

Company Information
for the year ended 31 January 2024







DIRECTORS: P Frost
J Frost
P Bowering





REGISTERED OFFICE: Unit 5, Ashmead Business Centre
Ashead Road
Keynsham
Bristol
BS31 1SX





REGISTERED NUMBER: 06994867 (England and Wales)





ACCOUNTANTS: Webb & Co Ltd
Accountants and Business Advisers
One New Street
Wells
Somerset
BA5 2LA

Ashmead Electrical Ltd (Registered number: 06994867)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 13,312 19,118

CURRENT ASSETS
Stocks 103,450 94,359
Debtors 4 339,841 372,111
Cash in hand 38 38
443,329 466,508
CREDITORS
Amounts falling due within one year 5 331,051 346,029
NET CURRENT ASSETS 112,278 120,479
TOTAL ASSETS LESS CURRENT
LIABILITIES

125,590

139,597

CREDITORS
Amounts falling due after more than one
year

6

(20,894

)

(34,403

)

PROVISIONS FOR LIABILITIES (3,328 ) (3,632 )
NET ASSETS 101,368 101,562

CAPITAL AND RESERVES
Called up share capital 8 316 316
Capital redemption reserve 184 184
Retained earnings 100,868 101,062
SHAREHOLDERS' FUNDS 101,368 101,562

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

Ashmead Electrical Ltd (Registered number: 06994867)

Balance Sheet - continued
31 January 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2024 and were signed on its behalf by:





P Frost - Director


Ashmead Electrical Ltd (Registered number: 06994867)

Notes to the Financial Statements
for the year ended 31 January 2024

1. 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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 31 January 2024 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with FRS105, the date of transition to FRS 102 Section 1A is 1 February 2022.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

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 - 10% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

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 Profit and Loss Account, 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.

Ashmead Electrical Ltd (Registered number: 06994867)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

1. ACCOUNTING POLICIES - continued

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

3. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2023 29,414 8,608 75,544 113,566
Additions 849 - - 849
At 31 January 2024 30,263 8,608 75,544 114,415
DEPRECIATION
At 1 February 2023 25,139 8,608 60,701 94,448
Charge for year 1,707 - 4,948 6,655
At 31 January 2024 26,846 8,608 65,649 101,103
NET BOOK VALUE
At 31 January 2024 3,417 - 9,895 13,312
At 31 January 2023 4,275 - 14,843 19,118

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 256,274 257,225
Other debtors 83,567 114,886
339,841 372,111

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 56,704 56,202
Hire purchase contracts 3,510 5,181
Trade creditors 192,975 241,259
Taxation and social security 67,133 33,008
Other creditors 10,729 10,379
331,051 346,029

Ashmead Electrical Ltd (Registered number: 06994867)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 14,167 24,167
Hire purchase contracts 6,727 10,236
20,894 34,403

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 10,237 15,417

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary A £1 100 100
214 Ordinary B £1 214 216
1 Ordinary C £1 1 -
1 Ordinary D £1 1 -
316 316

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary C £1 1 -
1 Ordinary D £1 1 -
2 -

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
P Frost
Balance outstanding at start of year 81,354 86,440
Amounts advanced 75,206 81,354
Amounts repaid (81,354 ) (86,440 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 75,206 81,354

Interest has been charged at HMRC rates.

Ashmead Electrical Ltd (Registered number: 06994867)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

10. FIRST YEAR ADOPTION

FRS102 requires deferred tax to be accounted for on all timing difference including revaluation of assets. At 01 February 2022 deferred taxation has been recognised of £2,152 and further priovision at 31 January 2023 of £1,480 totalling £3,632 at 31 Janaury 2023.
Under FRS105 equity was reported as £105,194 and restated under FRS102 1A as £101,562 at 31 January 2023.