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Registered number: 03542972
Switchgear Engineering Services Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Shaw Austin
Chartered Accountants
45 City Road
Chester
CH1 3AE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03542972
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 111,788 36,975
111,788 36,975
CURRENT ASSETS
Debtors 5 419,718 286,482
Cash at bank and in hand 259,409 319,399
679,127 605,881
Creditors: Amounts Falling Due Within One Year 6 (267,678 ) (201,315 )
NET CURRENT ASSETS (LIABILITIES) 411,449 404,566
TOTAL ASSETS LESS CURRENT LIABILITIES 523,237 441,541
Creditors: Amounts Falling Due After More Than One Year 7 (18,427 ) (30,570 )
NET ASSETS 504,810 410,971
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 504,710 410,871
SHAREHOLDERS' FUNDS 504,810 410,971
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
N S Driver
Director
E B Smith
Director
25 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Switchgear Engineering Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03542972 . The registered office is 45 City Road, Chester, CH1 3AE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The presentational currency is £ Sterling and all amounts are rounded to the nearest £.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% on cost
Motor Vehicles 25% on net book value
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit and loss, except when it relates to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively. 
2.6. Pensions
The company makes contributions into employees' defined pension contribution schemes. Contributions are charged to the profit and loss account as they become payable.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 14)
14 14
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 July 2023 38,478 85,075 123,553
Additions 15,340 94,766 110,106
Disposals - (26,609 ) (26,609 )
As at 30 June 2024 53,818 153,232 207,050
Depreciation
As at 1 July 2023 18,526 68,052 86,578
Provided during the period 7,343 27,948 35,291
Disposals - (26,607 ) (26,607 )
As at 30 June 2024 25,869 69,393 95,262
Net Book Value
As at 30 June 2024 27,949 83,839 111,788
As at 1 July 2023 19,952 17,023 36,975
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 412,465 226,579
Other debtors 7,253 59,903
419,718 286,482
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,745 5,830
Trade creditors 64,200 71,471
Bank loans and overdrafts 9,800 10,648
Other creditors 17,065 9,788
Taxation and social security 172,868 103,578
267,678 201,315
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 3,191
Bank loans 18,427 27,379
18,427 30,570
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8. Secured Creditors
Of the creditors the following amounts are secured over the assets in which they relate to.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,745 9,021
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,745 5,830
Later than one year and not later than five years - 3,191
3,745 9,021
3,745 9,021
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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