REGISTERED NUMBER: |
BELL ELECTRICAL GROUP LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 |
REGISTERED NUMBER: |
BELL ELECTRICAL GROUP LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 |
BELL ELECTRICAL GROUP LIMITED (REGISTERED NUMBER: SC150935) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 January 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BELL ELECTRICAL GROUP LIMITED |
COMPANY INFORMATION |
For The Year Ended 31 January 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
BELL ELECTRICAL GROUP LIMITED (REGISTERED NUMBER: SC150935) |
BALANCE SHEET |
31 January 2024 |
31.1.24 | 31.1.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
BELL ELECTRICAL GROUP LIMITED (REGISTERED NUMBER: SC150935) |
BALANCE SHEET - continued |
31 January 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
BELL ELECTRICAL GROUP LIMITED (REGISTERED NUMBER: SC150935) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 January 2024 |
1. | STATUTORY INFORMATION |
Bell Electrical Group Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Goodwill |
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and was amortised on a systematic basis over its expected life, which was 20 years. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life. |
Plant and machinery etc - 20% and 15% reducing balance and 33% on cost |
Government grants |
Government grants in respect of revenue expenditure are credited to the profit and loss account in the period to which they relate. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Work in progress is valued based on the company's performance of contracts undertaken and its subsequent right to consideration. Profit has been recognised on contracts which are not invoiced at the year end based on the stage of completion of the individual contracts, where the profit can be ascertained with reasonable certainty. Provision has been made for any foreseeable losses where appropriate. |
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. |
BELL ELECTRICAL GROUP LIMITED (REGISTERED NUMBER: SC150935) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 January 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Hire purchase |
Assets obtained under hire purchase contracts are capitalised in the balance sheet. These assets are initially recognised at transaction price and are depreciated over their estimated useful lives. The interest element of these obligations is charged to the profit and loss account over the relevant period using the effective interest rate method. The capital element of future payments is treated as a liability. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 February 2023 |
and 31 January 2024 |
AMORTISATION |
At 1 February 2023 |
and 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
BELL ELECTRICAL GROUP LIMITED (REGISTERED NUMBER: SC150935) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 January 2024 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 February 2023 |
Additions |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Directors' loan account | 23,677 | 18,022 |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Hire purchase contracts |
BELL ELECTRICAL GROUP LIMITED (REGISTERED NUMBER: SC150935) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 January 2024 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.1.24 | 31.1.23 |
£ | £ |
Hire purchase contracts | 5,278 | 11,280 |
Hire purchase creditors have security over related assets. |
10. | OTHER FINANCIAL COMMITMENTS |
At 31 January 2024 the company was committed to making total payments under operating leases of £23,750 (2023, £31,250). |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
At 31 January 2024 the company had provided one of the company's directors with loans totalling £28,193 (2023, £0). Interest has been charged at the official rate of interest. There are no fixed repayment terms for these loans, which are included in other debtors. |
12. | RELATED PARTY DISCLOSURES |
At 31 January 2024 one of the company's directors had provided interest free loans to the company totalling £23,677. There are no fixed repayment terms for these loans. |
At 31 January 2023 the company's directors had provided interest free loans to the company totalling £18,022. There were no fixed repayment terms for these loans. |