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Registration number: 08009869

Northamptonshire Electrical Contractors Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

Northamptonshire Electrical Contractors Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Northamptonshire Electrical Contractors Limited

Company Information

Directors

R S Mills

C A Mills

Registered office

81A Charles Street
Kettering
Northamptonshire
NN16 9RL

Accountants

Cheryl Major Ltd
Chartered Accountant
16 Elliot Close
Whetstone
Leicester
Leicestershire
LE8 6QX

 

Northamptonshire Electrical Contractors Limited

(Registration number: 08009869)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

18,803

12,937

Current assets

 

Debtors

5

71,833

66,114

Cash at bank and in hand

 

220,077

251,256

 

291,910

317,370

Prepayments and accrued income

 

17,823

17,936

Creditors: Amounts falling due within one year

(102,772)

(130,486)

Net current assets

 

206,961

204,820

Total assets less current liabilities

 

225,764

217,757

Provisions for liabilities

(4,513)

-

Accruals and deferred income

 

(5,700)

(3,851)

Net assets

 

215,551

213,906

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

215,451

213,806

Shareholders' funds

 

215,551

213,906

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 October 2024 and signed on its behalf by:
 

 

Northamptonshire Electrical Contractors Limited

(Registration number: 08009869)
Abridged Balance Sheet as at 31 March 2024

.........................................
R S Mills
Director

 

Northamptonshire Electrical Contractors Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 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:
81A Charles Street
Kettering
Northamptonshire
NN16 9RL
England

These financial statements were authorised for issue by the Board on 21 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 abridged 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 abridged 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.

 

Northamptonshire Electrical Contractors Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 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 equipment

25% per annum of net book value

Fixtures and fittings

15% per annum of net book value

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.

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.

 

Northamptonshire Electrical Contractors Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

26,300

26,300

Additions

9,446

9,446

At 31 March 2024

35,746

35,746

Depreciation

At 1 April 2023

13,364

13,364

Charge for the year

3,579

3,579

At 31 March 2024

16,943

16,943

Carrying amount

At 31 March 2024

18,803

18,803

At 31 March 2023

12,937

12,937

5

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

 

Northamptonshire Electrical Contractors Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100