2023-02-012024-01-312024-01-31false04631629S LUCAS ELECTRICAL CONTRACTORS 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S LUCAS ELECTRICAL CONTRACTORS LIMITED

Registered Number
04631629
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

S LUCAS ELECTRICAL CONTRACTORS LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

LUCAS, Debra Patricia
LUCAS, Stephen

Company Secretary

LUCAS, Debra Patricia

Registered Address

24 Gullane Close, Bill Quay
Gateshead
Tyne And Wear
NE10 0TQ

Registered Number

04631629 (England and Wales)
S LUCAS ELECTRICAL CONTRACTORS LIMITED
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3444,581444,731
444,581444,731
Current assets
Debtors41,9257,301
Cash at bank and on hand55,13522,029
57,06029,330
Creditors amounts falling due within one year5(144,762)(127,017)
Net current assets (liabilities)(87,702)(97,687)
Total assets less current liabilities356,879347,044
Net assets356,879347,044
Capital and reserves
Called up share capital100100
Profit and loss account356,779346,944
Shareholders' funds356,879347,044
The financial statements were approved and authorised for issue by the Board of Directors on 11 October 2024, and are signed on its behalf by:
LUCAS, Debra Patricia
Director
LUCAS, Stephen
Director

Registered Company No. 04631629
S LUCAS ELECTRICAL CONTRACTORS LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue 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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery5
Fixtures and fittings5
Vehicles5
Office Equipment5
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 01 February 23444,28219,42617,171480,879
At 31 January 24444,28219,42617,171480,879
Depreciation and impairment
At 01 February 23-18,97717,17136,148
Charge for year-150-150
At 31 January 24-19,12717,17136,298
Net book value
At 31 January 24444,282299-444,581
At 31 January 23444,282449-444,731
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables-1,743
Other debtors1,9255,558
Total1,9257,301
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables68208
Amounts owed to related parties141,481123,595
Other creditors2,4002,400
Accrued liabilities and deferred income813814
Total144,762127,017
6.Provisions for liabilities
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.