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Registration number: 08644216

John Silverthorne Electrical Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

John Silverthorne Electrical Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

John Silverthorne Electrical Limited

Company Information

Director

Mr John Charles Silverthorne

Company secretary

Mrs Sarah Louise Silverthorne

Registered office

25 Irby Road
Ashton
Bristol
BS3 2LZ

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

 

John Silverthorne Electrical Limited

(Registration number: 08644216)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

         

Fixed assets

   

Tangible assets

4

 

15,607

20,807

Current assets

   

Debtors

5

1,543

 

-

Cash at bank and in hand

 

11,721

 

12,955

 

13,264

 

12,955

Creditors: Amounts falling due within one year

6

(9,286)

 

(7,880)

Net current assets

   

3,978

5,075

Total assets less current liabilities

   

19,585

25,882

Creditors: Amounts falling due after more than one year

6

 

(7,333)

(11,333)

Provisions for liabilities

 

(2,965)

-

Net assets

   

9,287

14,549

Capital and reserves

   

Called up share capital

4

 

4

Retained earnings

9,283

 

14,545

Shareholders' funds

   

9,287

14,549

For the financial year ending 31 August 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 year 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 18 October 2024
 

 

John Silverthorne Electrical Limited

(Registration number: 08644216)
Balance Sheet as at 31 August 2024

.........................................

Mr John Charles Silverthorne
Director

 

John Silverthorne Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
25 Irby Road
Ashton
Bristol
BS3 2LZ

These financial statements were authorised for issue by the director on 18 October 2024.

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

John Silverthorne Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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.

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

Plant and machinery

20% reducing balance

Fixtures and fittings

25% reducing balance

Motor vehicles

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.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

John Silverthorne Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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 are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

John Silverthorne Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

1,204

512

27,588

29,304

At 31 August 2024

1,204

512

27,588

29,304

Depreciation

At 1 September 2023

1,119

481

6,897

8,497

Charge for the year

21

6

5,173

5,200

At 31 August 2024

1,140

487

12,070

13,697

Carrying amount

At 31 August 2024

64

25

15,518

15,607

At 31 August 2023

85

31

20,691

20,807

5

Debtors

Current

2024
£

2023
£

Trade debtors

886

-

Prepayments

598

-

Other debtors

59

-

 

1,543

-

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

4,000

4,000

Taxation and social security

 

4,200

106

Accruals and deferred income

 

924

913

Other creditors

 

162

2,861

 

9,286

7,880

 

John Silverthorne Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7,333

11,333