2023-02-012024-01-312024-01-31false11508270SMS ELECTRICAL SERVICES (LONDON) 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SMS ELECTRICAL SERVICES (LONDON) LTD

Registered Number
11508270
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

SMS ELECTRICAL SERVICES (LONDON) LTD
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

TURNER, Kirsty Louise
TURNER, Mark Robert

Registered Address

1 Gemini Court
42a Throwley Way,
Sutton
SM1 4AF

Place of Business


Registered Number

11508270 (England and Wales)
SMS ELECTRICAL SERVICES (LONDON) LTD
Statement of Financial Position
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets316,27420,803
16,27420,803
Current assets
Debtors453,64158,814
Cash at bank and on hand47,10820,157
100,74978,971
Creditors amounts falling due within one year5(89,214)(44,850)
Net current assets (liabilities)11,53534,121
Total assets less current liabilities27,80954,924
Creditors amounts falling due after one year6(6,567)(12,294)
Provisions for liabilities8(3,417)(3,953)
Net assets17,82538,677
Capital and reserves
Called up share capital200200
Profit and loss account17,62538,477
Shareholders' funds17,82538,677
The financial statements were approved and authorised for issue by the Board of Directors on 10 October 2024, and are signed on its behalf by:
TURNER, Mark Robert
Director
Registered Company No. 11508270
SMS ELECTRICAL SERVICES (LONDON) LTD
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.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover represents the value of services and goods provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Vehicles25
Office Equipment25
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. The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.
2.Average number of employees

20242023
Average number of employees during the year32
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 February 2368833,8332,0932,87739,491
Additions---1,5281,528
Disposals-(2,000)--(2,000)
At 31 January 2468831,8332,0934,40539,019
Depreciation and impairment
At 01 February 2347015,2941,2101,71418,688
Charge for year544,6352216735,583
On disposals-(1,526)--(1,526)
At 31 January 2452418,4031,4312,38722,745
Net book value
At 31 January 2416413,4306622,01816,274
At 31 January 2321818,5398831,16320,803
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables36,19651,555
Other debtors15,7591,440
Prepayments and accrued income1,6865,819
Total53,64158,814
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables36,20523,345
Bank borrowings and overdrafts28,328-
Taxation and social security14,93812,311
Finance lease and HP contracts5,7275,727
Accrued liabilities and deferred income4,0163,467
Total89,21444,850
6.Creditors: amounts due after one year

2024

2023

££
Other creditors6,56712,294
Total6,56712,294
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts6,56712,294
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)3,4173,953
Total3,4173,953
9.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
TURNER, Mark Robert05,25405,254
05,25405,254
Included in Other debtors represent amounts due from the directors of the company. The balance will be repaid within 9 months of the end of the accounting period.