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REGISTERED NUMBER: 01389913 (England and Wales)







Unaudited Financial Statements for the Year Ended 31 January 2024

for

Fuseland Electrical Services Ltd

Fuseland Electrical Services Ltd (Registered number: 01389913)






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


Fuseland Electrical Services Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTOR: Mr N M Fletcher





SECRETARY: Ms G Coombs





REGISTERED OFFICE: 4 Dragon Court
Crofts End Road
St George
Bristol
BS5 7XX





REGISTERED NUMBER: 01389913 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY

Fuseland Electrical Services Ltd (Registered number: 01389913)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 115,254 124,048
Investments 5 12,060 -
127,314 124,048

CURRENT ASSETS
Stocks 852,647 806,611
Debtors 6 994,906 1,504,002
Cash at bank and in hand 210,709 239,817
2,058,262 2,550,430
CREDITORS
Amounts falling due within one year 7 (1,339,066 ) (1,832,075 )
NET CURRENT ASSETS 719,196 718,355
TOTAL ASSETS LESS CURRENT LIABILITIES 846,510 842,403

CREDITORS
Amounts falling due after more than one year 8 (28,430 ) (94,299 )

PROVISIONS FOR LIABILITIES (10,275 ) (17,537 )
NET ASSETS 807,805 730,567

CAPITAL AND RESERVES
Called up share capital 10 869 869
Capital redemption reserve 11 4,131 4,131
Retained earnings 11 802,805 725,567
SHAREHOLDERS' FUNDS 807,805 730,567

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Fuseland Electrical Services Ltd (Registered number: 01389913)

Balance Sheet - continued
31 January 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 October 2024 and were signed by:





Mr N M Fletcher - Director


Fuseland Electrical Services Ltd (Registered number: 01389913)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Fuseland Electrical Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 5% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

Computer Equipment has previously been depreciated at 25% reducing balance. This was changed to five year straight line on 01/02/2023 to more accurately represent the useful life of the assets.

Investments in associates
Investments in associate undertakings are recognised at cost.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Fuseland Electrical Services Ltd (Registered number: 01389913)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 23 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 February 2023 43,417 8,278 100,593
Additions - 2,966 7,250
Disposals - - (6,877 )
At 31 January 2024 43,417 11,244 100,966
DEPRECIATION
At 1 February 2023 11,670 5,281 78,536
Charge for year 1,805 685 4,975
Eliminated on disposal - - (5,954 )
At 31 January 2024 13,475 5,966 77,557
NET BOOK VALUE
At 31 January 2024 29,942 5,278 23,409
At 31 January 2023 31,747 2,997 22,057

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 77,322 22,249 251,859
Additions - 7,728 17,944
Disposals - (506 ) (7,383 )
At 31 January 2024 77,322 29,471 262,420
DEPRECIATION
At 1 February 2023 23,268 9,056 127,811
Charge for year 13,514 4,817 25,796
Eliminated on disposal - (487 ) (6,441 )
At 31 January 2024 36,782 13,386 147,166
NET BOOK VALUE
At 31 January 2024 40,540 16,085 115,254
At 31 January 2023 54,054 13,193 124,048

Fuseland Electrical Services Ltd (Registered number: 01389913)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
Additions 12,060
At 31 January 2024 12,060
NET BOOK VALUE
At 31 January 2024 12,060

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 863,975 1,346,644
Other debtors 2,662 4
Tax - 74,761
VAT 24,024 19,649
Accrued income - 1,569
Prepayments 104,245 61,375
994,906 1,504,002

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other loans 65,869 62,663
Trade creditors 829,437 1,618,057
Amounts owed to group undertakings 301,374 -
Tax 85,183 57,763
Social security and other taxes 26,963 51,722
Other creditors 2,695 3,252
Directors' current accounts 14,626 20,599
Accrued expenses 12,919 18,019
1,339,066 1,832,075

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Other loans - 1-2 years 28,430 94,299

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.24 31.1.23
£    £   
Within one year 82,513 2,475
Between one and five years 38,046 9,900
In more than five years - 185,000
120,559 197,375

Fuseland Electrical Services Ltd (Registered number: 01389913)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
869 Ordinary £1 869 869

11. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 February 2023 725,567 4,131 729,698
Profit for the year 203,304 203,304
Dividends (126,066 ) (126,066 )
At 31 January 2024 802,805 4,131 806,936

12. RELATED PARTY DISCLOSURES

At 31 January 2024, Fuseland Electrical Services Ltd owns 45% of Fuseland Mechanical Services Ltd. At the year end, Fuseland Electrical Services Ltd owes Fuseland Mechanical Services Ltd £301,374.