Company Registration No. 10105055 (England and Wales)
ACN Electrical Limited
Unaudited accounts
for the year ended 30 April 2024
ACN Electrical Limited
Unaudited accounts
Contents
ACN Electrical Limited
Company Information
for the year ended 30 April 2024
Secretary
Caroline Neadley
Company Number
10105055 (England and Wales)
Registered Office
THE GATEHOUSE
5 BLUEBELL GARDENS
HESSLE
NORTH HUMBERSIDE
HU13 0DD
ENGLAND
Accountants
Kendall Accountancy Services Limited
2 Exeter Street
New Village Road
Cottingham
East Yorkshire
HU16 4LU
ACN Electrical Limited
Statement of financial position
as at 30 April 2024
Tangible assets
9,793
6,605
Cash at bank and in hand
-
3,352
Creditors: amounts falling due within one year
(13,426)
(18,804)
Net current liabilities
(5,309)
(3,762)
Total assets less current liabilities
4,484
2,843
Creditors: amounts falling due after more than one year
(3,329)
(6,134)
Provisions for liabilities
Deferred tax
(1,115)
(1,255)
Net assets/(liabilities)
40
(4,546)
Called up share capital
2
2
Profit and loss account
38
(4,548)
Shareholders' funds
40
(4,546)
For the year ending 30 April 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 October 2024 and were signed on its behalf by
Mr A Neadley
Director
Company Registration No. 10105055
ACN Electrical Limited
Notes to the Accounts
for the year ended 30 April 2024
ACN Electrical Limited is a private company, limited by shares, registered in England and Wales, registration number 10105055. The registered office is THE GATEHOUSE, 5 BLUEBELL GARDENS, HESSLE, NORTH HUMBERSIDE, HU13 0DD, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Cost
Computer equipment
25% Cost
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
ACN Electrical Limited
Notes to the Accounts
for the year ended 30 April 2024
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 May 2023
3,401
11,200
438
15,039
At 30 April 2024
8,101
11,200
438
19,739
At 1 May 2023
2,633
5,524
277
8,434
Charge for the year
365
1,037
110
1,512
At 30 April 2024
2,998
6,561
387
9,946
At 30 April 2024
5,103
4,639
51
9,793
At 30 April 2023
768
5,676
161
6,605
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
3,000
3,195
Taxes and social security
1,271
1,802
Other creditors
3,378
2,125
Loans from directors
-
4,279
Deferred income
5,000
4,195
7
Creditors: amounts falling due after more than one year
2024
2023
ACN Electrical Limited
Notes to the Accounts
for the year ended 30 April 2024
Allotted, called up and fully paid:
100 Ordinary shares of £0.01 each
1
1
5 B Shares of £0.20 each
1
1
9
Average number of employees
During the year the average number of employees was 3 (2023: 2).