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R D ELECTRICAL LIMITED

Registered Number
04896907
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

R D ELECTRICAL LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Director

GIBSON, Dean Michael

Registered Address

7 Bonnymead
Cotgrave
Nottingham
NG12 3QH

Registered Number

04896907 (England and Wales)
R D ELECTRICAL LIMITED
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets324,700190
24,700190
Current assets
Stocks46,338500
Debtors89,197137,247
Cash at bank and on hand4,299-
99,834137,747
Creditors amounts falling due within one year5(101,105)(145,015)
Net current assets (liabilities)(1,271)(7,268)
Total assets less current liabilities23,429(7,078)
Creditors amounts falling due after one year6(26,210)-
Net assets(2,781)(7,078)
Capital and reserves
Called up share capital200200
Profit and loss account(2,981)(7,278)
Shareholders' funds(2,781)(7,078)
The financial statements were approved and authorised for issue by the Director on 30 September 2024, and are signed on its behalf by:
GIBSON, Dean Michael
Director
Registered Company No. 04896907
R D ELECTRICAL LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
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 policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery5
Fixtures and fittings5
Vehicles5
Office Equipment3
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year12
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 February 233,95119,23613,75936,946
Additions-32,03093332,963
Disposals-(17,730)-(17,730)
At 31 January 243,95133,53614,69252,179
Depreciation and impairment
At 01 February 233,91419,18713,65536,756
Charge for year238,0573738,453
On disposals-(17,730)-(17,730)
At 31 January 243,9379,51414,02827,479
Net book value
At 31 January 241424,02266424,700
At 31 January 233749104190
4.Stocks

2024

2023

££
Raw materials and consumables1,000500
Work in progress5,338-
Total6,338500
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables62,50186,610
Bank borrowings and overdrafts37,13155,578
Accrued liabilities and deferred income1,4732,827
Total101,105145,015
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts26,210-
Total26,210-