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REGISTERED NUMBER: 08249568 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

LURO ELECTRICAL SOLUTIONS LTD

LURO ELECTRICAL SOLUTIONS LTD (REGISTERED NUMBER: 08249568)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LURO ELECTRICAL SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R Cheeseman
L Del Rosso





REGISTERED OFFICE: 29 Arboretum Street
Nottingham
Nottinghamshire
NG1 4JA





REGISTERED NUMBER: 08249568 (England and Wales)





ACCOUNTANTS: Lemans
29 Arboretum Street
Nottingham
Nottinghamshire
NG1 4JA

LURO ELECTRICAL SOLUTIONS LTD (REGISTERED NUMBER: 08249568)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 227,113 148,695

CURRENT ASSETS
Stocks 28,059 56,819
Debtors 5 787,687 524,048
Cash at bank and in hand 1,189,969 1,176,219
2,005,715 1,757,086
CREDITORS
Amounts falling due within one year 6 614,917 548,016
NET CURRENT ASSETS 1,390,798 1,209,070
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,617,911

1,357,765

CREDITORS
Amounts falling due after more than one year 7 (114,400 ) (98,226 )

PROVISIONS FOR LIABILITIES (56,778 ) (37,174 )
NET ASSETS 1,446,733 1,222,365

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 1,446,633 1,222,265
SHAREHOLDERS' FUNDS 1,446,733 1,222,365

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

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

The directors acknowledge their 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.

LURO ELECTRICAL SOLUTIONS LTD (REGISTERED NUMBER: 08249568)

BALANCE SHEET - continued
31 MARCH 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 Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by:




R Cheeseman - Director



L Del Rosso - Director


LURO ELECTRICAL SOLUTIONS LTD (REGISTERED NUMBER: 08249568)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

LURO Electrical Solutions 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.

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


The company's place of business is Unit 4 Churchfield Court, Robey Close, Linby, Nottingham, NG15 8AA.

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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration receivable, net of discounts and value added tax. Turnover includes revenue earned from the rendering of services which is recognised by reference to the stage of completion of the contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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

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.


LURO ELECTRICAL SOLUTIONS LTD (REGISTERED NUMBER: 08249568)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 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 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at the transaction price.

Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 20 ) .

LURO ELECTRICAL SOLUTIONS LTD (REGISTERED NUMBER: 08249568)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 1,315 2,668 309,906 7,430 321,319
Additions - - 140,644 - 140,644
Disposals - - (12,323 ) - (12,323 )
At 31 March 2024 1,315 2,668 438,227 7,430 449,640
DEPRECIATION
At 1 April 2023 1,315 2,668 164,148 4,493 172,624
Charge for year - - 60,466 1,760 62,226
Eliminated on disposal - - (12,323 ) - (12,323 )
At 31 March 2024 1,315 2,668 212,291 6,253 222,527
NET BOOK VALUE
At 31 March 2024 - - 225,936 1,177 227,113
At 31 March 2023 - - 145,758 2,937 148,695

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 207,508
Additions 122,949
At 31 March 2024 330,457
DEPRECIATION
At 1 April 2023 61,750
Charge for year 58,900
At 31 March 2024 120,650
NET BOOK VALUE
At 31 March 2024 209,807
At 31 March 2023 145,758

LURO ELECTRICAL SOLUTIONS LTD (REGISTERED NUMBER: 08249568)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 657,108 435,002
Other debtors 74,239 64,867
Directors' current accounts 21,429 -
Prepayments and accrued income 34,911 24,179
787,687 524,048

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 23,274 9,932
Hire purchase contracts (see note 8) 43,900 26,792
Trade creditors 321,590 327,505
Corporation tax 129,070 78,606
Social security and other taxes 28,277 43,633
Other creditors 53,541 51,461
Directors' current accounts 237 1,499
Accrued expenses 15,028 8,588
614,917 548,016

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 23,274
Hire purchase contracts (see note 8) 114,400 74,952
114,400 98,226

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 43,900 26,792
Between one and five years 114,400 74,952
158,300 101,744

LURO ELECTRICAL SOLUTIONS LTD (REGISTERED NUMBER: 08249568)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 19,150 19,394
Between one and five years 16,234 22,984
35,384 42,378

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 158,300 101,744

Hire purchase creditors are secured on the assets concerned.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 - 100
25 A Ordinary £1 25 -
25 B Ordinary £1 25 -
25 C Ordinary £1 25 -
25 D Ordinary £1 25 -
100 100
The following shares were allotted and fully paid for cash at par during the year:
25 A Ordinary shares of £1 each
25 B Ordinary shares of £1 each
25 C Ordinary shares of £1 each
25 D Ordinary shares of £1 each

LURO ELECTRICAL SOLUTIONS LTD (REGISTERED NUMBER: 08249568)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
R Cheeseman
Balance outstanding at start of year - -
Amounts advanced 21,429 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 21,429 -

L Del Rosso
Balance outstanding at start of year - 76,170
Amounts repaid - (76,170 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Interest is charged on loans to directors at a market rate.

All amounts owed by directors have been repaid in full since the year end.