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REGISTERED NUMBER: 02506420 (England and Wales)















Electrical Rewind Services Limited

Unaudited Financial Statements for the Year Ended 31 July 2024






Electrical Rewind Services Limited (Registered number: 02506420)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Electrical Rewind Services Limited

Company Information
for the Year Ended 31 July 2024







Director: G Cooper





Registered office: Unit 1
3 Bessemer Road
Norwich
Norfolk
NR4 6DQ





Registered number: 02506420 (England and Wales)





Accountants: Fairhead Bradford
5 Queen Street
Great Yarmouth
Norfolk
NR30 2QP

Electrical Rewind Services Limited (Registered number: 02506420)

Statement of Financial Position
31 July 2024

31/7/24 31/7/23
Notes £    £    £    £   
Fixed assets
Tangible assets 4 31,582 43,360

Current assets
Stocks 43,287 53,954
Debtors 5 77,719 105,798
Investments 6 355 307
Cash at bank and in hand 88,243 62,094
209,604 222,153
Creditors
Amounts falling due within one year 7 85,392 119,231
Net current assets 124,212 102,922
Total assets less current liabilities 155,794 146,282

Provisions for liabilities 1,492 4,603
Net assets 154,302 141,679

Capital and reserves
Called up share capital 1,338 1,338
Capital redemption reserve 1,965 1,965
Retained earnings 150,999 138,376
154,302 141,679

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Electrical Rewind Services Limited (Registered number: 02506420)

Statement of Financial Position - continued
31 July 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 19 November 2024 and were signed by:





G Cooper - Director


Electrical Rewind Services Limited (Registered number: 02506420)

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

1. Statutory information

Electrical Rewind Services Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Freehold property - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 20% on 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.

Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

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 statement of financial position date.


Electrical Rewind Services Limited (Registered number: 02506420)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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 statement of financial position 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.

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 5 (2023 - 5 ) .

4. Tangible fixed assets
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Cost
At 1 August 2023 56,287 43,469 65,793 39,490 205,039
Additions - 651 339 - 990
At 31 July 2024 56,287 44,120 66,132 39,490 206,029
Depreciation
At 1 August 2023 34,845 40,600 58,841 27,393 161,679
Charge for year 1,126 1,638 2,106 7,898 12,768
At 31 July 2024 35,971 42,238 60,947 35,291 174,447
Net book value
At 31 July 2024 20,316 1,882 5,185 4,199 31,582
At 31 July 2023 21,442 2,869 6,952 12,097 43,360

5. Debtors: amounts falling due within one year
31/7/24 31/7/23
£    £   
Trade debtors 74,067 102,146
Other debtors 3,652 3,652
77,719 105,798

Electrical Rewind Services Limited (Registered number: 02506420)

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

6. Current asset investments
31/7/24 31/7/23
£    £   
Listed investments 355 307

7. Creditors: amounts falling due within one year
31/7/24 31/7/23
£    £   
Trade creditors 38,261 67,944
Taxation and social security 27,949 26,868
Other creditors 19,182 24,419
85,392 119,231