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Registration number: 14586013

AWG Electrical Services Limited

Unaudited Filleted Financial Statements

for the Period from 11 January 2023 to 31 January 2024

 

AWG Electrical Services Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

AWG Electrical Services Limited

(Registration number: 14586013)
Balance Sheet as at 31 January 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

11,821

Current assets

 

Stocks

5

10,000

Debtors

6

20,966

Cash at bank and in hand

 

4,109

 

35,075

Creditors: Amounts falling due within one year

7

(37,445)

Net current liabilities

 

(2,370)

Total assets less current liabilities

 

9,451

Creditors: Amounts falling due after more than one year

7

(7,500)

Provisions for liabilities

(1,885)

Net assets

 

66

Capital and reserves

 

Called up share capital

1

Retained earnings

65

Shareholders' funds

 

66

 

AWG Electrical Services Limited

(Registration number: 14586013)
Balance Sheet as at 31 January 2024

For the financial period ending 31 January 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 period 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.

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 10 October 2024
 

.........................................
A W Garratt
Director

 

AWG Electrical Services Limited

Notes to the Unaudited Financial Statements for the Period from 11 January 2023 to 31 January 2024

1

General information

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

The address of its registered office is:
Jubilee House
50A Bartholomew Street
Newbury
Berkshire
RG14 5QA

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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 provision of electrical services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

AWG Electrical Services Limited

Notes to the Unaudited Financial Statements for the Period from 11 January 2023 to 31 January 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Office equipment

25% straight line

Plant and machinery

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for electrical services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

AWG Electrical Services Limited

Notes to the Unaudited Financial Statements for the Period from 11 January 2023 to 31 January 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

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

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

Additions

1,080

1,387

11,500

13,967

At 31 January 2024

1,080

1,387

11,500

13,967

Depreciation

Charge for the period

202

267

1,677

2,146

At 31 January 2024

202

267

1,677

2,146

Carrying amount

At 31 January 2024

878

1,120

9,823

11,821

5

Stocks

2024
£

Stocks

10,000

6

Debtors

Current

2024
£

Trade debtors

8,566

Prepayments

821

Other debtors

11,579

 

20,966

 

AWG Electrical Services Limited

Notes to the Unaudited Financial Statements for the Period from 11 January 2023 to 31 January 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

8

5,000

Trade creditors

 

14,838

Taxation and social security

 

12,580

Other creditors

 

5,027

 

37,445

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

8

7,500

8

Loans and borrowings

Current loans and borrowings

2024
£

Bank borrowings

5,000

Non-current loans and borrowings

2024
£

Bank borrowings

7,500

 

AWG Electrical Services Limited

Notes to the Unaudited Financial Statements for the Period from 11 January 2023 to 31 January 2024

9

Related party transactions

Transactions with the director

2024

At 11 January 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

A W Garratt

Directors loan account

-

84,546

(72,968)

11,578

Other transactions with the director

A W Garratt (director) had a loan account with the company on which interest has been charged at the HMRC official rate. At the balance sheet date the amount due from A W Garratt was £11,578.