Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31truetrueElectrical contracting2023-04-01false119The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07327424 2023-04-01 2024-03-31 07327424 2022-04-01 2023-03-31 07327424 2024-03-31 07327424 2023-03-31 07327424 2022-04-01 07327424 c:Director1 2023-04-01 2024-03-31 07327424 d:Buildings 2023-04-01 2024-03-31 07327424 d:Buildings 2024-03-31 07327424 d:Buildings 2023-03-31 07327424 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07327424 d:Buildings d:ShortLeaseholdAssets 2023-04-01 2024-03-31 07327424 d:PlantMachinery 2023-04-01 2024-03-31 07327424 d:PlantMachinery 2024-03-31 07327424 d:PlantMachinery 2023-03-31 07327424 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07327424 d:MotorVehicles 2023-04-01 2024-03-31 07327424 d:MotorVehicles 2024-03-31 07327424 d:MotorVehicles 2023-03-31 07327424 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07327424 d:FurnitureFittings 2023-04-01 2024-03-31 07327424 d:FurnitureFittings 2024-03-31 07327424 d:FurnitureFittings 2023-03-31 07327424 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07327424 d:ComputerEquipment 2023-04-01 2024-03-31 07327424 d:ComputerEquipment 2024-03-31 07327424 d:ComputerEquipment 2023-03-31 07327424 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07327424 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07327424 d:CurrentFinancialInstruments 2024-03-31 07327424 d:CurrentFinancialInstruments 2023-03-31 07327424 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07327424 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07327424 d:ShareCapital 2024-03-31 07327424 d:ShareCapital 2023-03-31 07327424 d:RetainedEarningsAccumulatedLosses 2024-03-31 07327424 d:RetainedEarningsAccumulatedLosses 2023-03-31 07327424 c:FRS102 2023-04-01 2024-03-31 07327424 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07327424 c:FullAccounts 2023-04-01 2024-03-31 07327424 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07327424 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 07327424 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 07327424 d:RetirementBenefitObligationsDeferredTax 2024-03-31 07327424 d:RetirementBenefitObligationsDeferredTax 2023-03-31 07327424 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 07327424










AMS ELECTRICAL CONTRACTING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
AMS ELECTRICAL CONTRACTING LIMITED
REGISTERED NUMBER: 07327424

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
135,513
93,446

Current assets
  

Stocks
  
10,000
15,000

Debtors: amounts falling due within one year
 5 
267,120
357,355

Cash at bank and in hand
  
509,921
173,969

  
787,041
546,324

Creditors: amounts falling due within one year
 6 
(402,430)
(161,255)

Net current assets
  
 
 
384,611
 
 
385,069

Total assets less current liabilities
  
520,124
478,515

Provisions for liabilities
  

Deferred tax
 7 
(7,477)
(1,393)

Net assets
  
512,647
477,122


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
512,547
477,022

  
512,647
477,122


Page 1

 
AMS ELECTRICAL CONTRACTING LIMITED
REGISTERED NUMBER: 07327424
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 October 2024.



S D Finney
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
AMS ELECTRICAL CONTRACTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

AMS Electrical Contracting Limited is a private company limited by shares, incorporated in England and Wales (registered number: 07327424).  Its registered office is 50 Burton Road, Sheffield, S3 8BX.  The principal activity of the Company throughout the year continued to be that of electrical contractors.

2.Accounting policies

 

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.1

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
AMS ELECTRICAL CONTRACTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.2

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

The depreciation rates used are:

Leasehold improvements
-
Straight line over 5 years
Plant and machinery
-
20% straight line
Motor vehicles
-
25% straight line
Fixtures and fittings
-
20% straight line
Computer equipment
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings. 

 
2.3

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Page 4

 
AMS ELECTRICAL CONTRACTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
                      
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
AMS ELECTRICAL CONTRACTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 9).

Page 6

 
AMS ELECTRICAL CONTRACTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Leasehold improvements
Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 April 2023
104,253
8,984
188,381
5,191
7,801
314,610


Additions
-
-
113,122
-
2,043
115,165


Disposals
-
-
(24,244)
-
(1,559)
(25,803)



At 31 March 2024

104,253
8,984
277,259
5,191
8,285
403,972



Depreciation


At 1 April 2023
83,404
8,984
119,098
5,191
4,487
221,164


Charge for the year on owned assets
20,849
-
50,938
-
1,311
73,098


Disposals
-
-
(24,244)
-
(1,559)
(25,803)



At 31 March 2024

104,253
8,984
145,792
5,191
4,239
268,459



Net book value



At 31 March 2024
-
-
131,467
-
4,046
135,513



At 31 March 2023
20,849
-
69,283
-
3,314
93,446

Page 7

 
AMS ELECTRICAL CONTRACTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
226,697
314,819

Other debtors
40,423
42,536

267,120
357,355



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
63,126
102,644

Amounts owed to group undertakings
194,975
6,478

Corporation tax
125,532
41,998

Other taxation and social security
8,409
6,284

Other creditors
565
551

Accruals and deferred income
9,823
3,300

402,430
161,255


Page 8

 
AMS ELECTRICAL CONTRACTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Deferred taxation




2024
2023


£

£






At beginning of year
1,393
5,243


Charged to profit or loss
6,084
(3,850)



At end of year
7,477
1,393

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
7,538
1,452

Pension surplus
(61)
(59)

7,477
1,393


8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,592 (2023 - £2,672). Contributions totalling £243 (2023 - £236) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9