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REGISTERED NUMBER: 09578588 (England and Wales)





Butterfields Electrical Ltd

Unaudited Financial Statements

for the Year Ended 31 May 2024






Butterfields Electrical Ltd (Registered number: 09578588)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Butterfields Electrical Ltd

Company Information
for the year ended 31 May 2024







DIRECTOR: J Murgatroyd





REGISTERED OFFICE: 30 Chapel Road
Crossflatts
Bingley
West Yorkshire
BD16 2SH





REGISTERED NUMBER: 09578588 (England and Wales)





ACCOUNTANTS: Simon Hart FCCA
Hart Wright Accounting
Chartered Certified Accountants
24 Hall Drive
Sutton In Craven
North Yorkshire
BD20 7NH

Butterfields Electrical Ltd (Registered number: 09578588)

Balance Sheet
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 25,400 18,210

CURRENT ASSETS
Stocks 5,000 -
Debtors 5 73,684 44,706
Cash at bank 63,778 126,369
142,462 171,075
CREDITORS
Amounts falling due within one year 6 (87,276 ) (107,745 )
NET CURRENT ASSETS 55,186 63,330
TOTAL ASSETS LESS CURRENT
LIABILITIES

80,586

81,540

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 80,486 81,440
80,586 81,540

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 15 October 2024 and were signed by:





J Murgatroyd - Director


Butterfields Electrical Ltd (Registered number: 09578588)

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

1. STATUTORY INFORMATION

Butterfields Electrical Ltd 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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.

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.

Butterfields Electrical Ltd (Registered number: 09578588)

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

2. ACCOUNTING POLICIES - continued

Government grants
Government grants are recognised as other income once there is reasonable assurance that all conditions relating to the grant have been attained and that the grant will be received.

During the year the company was in receipt of relief in respect of the Bounce Back Loan Scheme (BBLS). The Business Interruption Payment made by the government on behalf of the company has been brought in as grant income and reflects the amounts relating to the financial year.

During the year the company was in receipt of relief in respect of the Coronavirus Job Retention Scheme. The income is recorded based on the claim periods made relating to the financial year.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 52,255
Additions 20,000
At 31 May 2024 72,255
DEPRECIATION
At 1 June 2023 34,045
Charge for year 12,810
At 31 May 2024 46,855
NET BOOK VALUE
At 31 May 2024 25,400
At 31 May 2023 18,210

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 22,616 41,040
Other debtors 51,068 3,666
73,684 44,706

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2 -
Taxation and social security 71,749 84,481
Other creditors 15,525 23,264
87,276 107,745

Butterfields Electrical Ltd (Registered number: 09578588)

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

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bounce Back Loan 1 15,373 23,223

The UK Government have provided a 100% guarantee on the Bounce Back Loan Scheme (BBLS), borrowings obtained from the Barclays Bank PLC in the year.