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Registered number: 12451885
Humphreys Electrical Services Ltd
Financial Statements
For The Year Ended 28 February 2024
Athena Accountants & Business Advisors Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12451885
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 751 4,053
751 4,053
CURRENT ASSETS
Stocks 5 4,500 3,000
Debtors 6 18,554 38,036
Cash at bank and in hand 8,148 4,395
31,202 45,431
Creditors: Amounts Falling Due Within One Year 7 (18,780 ) (22,234 )
NET CURRENT ASSETS (LIABILITIES) 12,422 23,197
TOTAL ASSETS LESS CURRENT LIABILITIES 13,173 27,250
NET ASSETS 13,173 27,250
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 13,073 27,150
SHAREHOLDERS' FUNDS 13,173 27,250
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For the year ending 28 February 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David Humphreys
Director
20/11/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Humphreys Electrical Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12451885 . The registered office is 23a 23a Eynsham Rd, Botley, Oxford, Oxfordshire, OX2 9BS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Straight Line
Motor Vehicles 25% Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 March 2023 5,442 7,770 13,212
As at 28 February 2024 5,442 7,770 13,212
Depreciation
As at 1 March 2023 3,331 5,828 9,159
Provided during the period 1,360 1,942 3,302
As at 28 February 2024 4,691 7,770 12,461
Net Book Value
As at 28 February 2024 751 - 751
As at 1 March 2023 2,111 1,942 4,053
5. Stocks
2024 2023
£ £
Materials 4,500 3,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 11,455 31,133
Prepayments and accrued income 6,075 4,041
CIS Recoverable 1,024 1,024
VAT - 1,838
18,554 38,036
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 1,287
Trade creditors 7,373 5,185
Corporation tax 3,819 12,555
Other taxes and social security 1,191 -
VAT 4,175 -
CIS Payable - 1,141
Directors' loan accounts 2,222 2,066
18,780 22,234
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8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 1,609
Less: Finance charges allocated to future periods - 322
- 1,287
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Controlling Party
The company's controlling party is David Humphreys by virtue of his ownership of 81% of the issued share capital in the company.
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