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REGISTERED NUMBER: 12449552 (England and Wales)














Financial Statements for the Year Ended 29 February 2024

for

The Electrical Site Ltd

The Electrical Site Ltd (Registered number: 12449552)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Electrical Site Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr R J Welch
Ms A Welch





REGISTERED OFFICE: The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY





REGISTERED NUMBER: 12449552 (England and Wales)





ACCOUNTANTS: Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

The Electrical Site Ltd (Registered number: 12449552)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 132,711 34,322

CURRENT ASSETS
Stocks 20,756 1,809
Debtors 5 644,320 392,080
Cash at bank and in hand 73,957 23,286
739,033 417,175
CREDITORS
Amounts falling due within one year 6 688,972 387,326
NET CURRENT ASSETS 50,061 29,849
TOTAL ASSETS LESS CURRENT LIABILITIES 182,772 64,171

CREDITORS
Amounts falling due after more than one
year

7

95,869

13,131
NET ASSETS 86,903 51,040

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 86,901 51,038
86,903 51,040

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

The Electrical Site Ltd (Registered number: 12449552)

Balance Sheet - continued
29 February 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 21 November 2024 and were signed on its behalf by:





Mr R J Welch - Director


The Electrical Site Ltd (Registered number: 12449552)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

The Electrical Site 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

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.

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 6 (2023 - 4 ) .

The Electrical Site Ltd (Registered number: 12449552)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 16,710 2,185 21,500 6,678 47,073
Additions - 3,431 148,265 4,747 156,443
Disposals - - (21,500 ) - (21,500 )
At 29 February 2024 16,710 5,616 148,265 11,425 182,016
DEPRECIATION
At 1 March 2023 4,637 387 5,375 2,352 12,751
Charge for year 1,811 784 37,066 2,268 41,929
Eliminated on disposal - - (5,375 ) - (5,375 )
At 29 February 2024 6,448 1,171 37,066 4,620 49,305
NET BOOK VALUE
At 29 February 2024 10,262 4,445 111,199 6,805 132,711
At 28 February 2023 12,073 1,798 16,125 4,326 34,322

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2023 21,500
Additions 148,265
Disposals (21,500 )
At 29 February 2024 148,265
DEPRECIATION
At 1 March 2023 5,375
Charge for year 37,066
Eliminated on disposal (5,375 )
At 29 February 2024 37,066
NET BOOK VALUE
At 29 February 2024 111,199
At 28 February 2023 16,125

The Electrical Site Ltd (Registered number: 12449552)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 632,912 325,625
Other debtors 11,408 66,455
644,320 392,080

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 800 800
Hire purchase contracts 29,112 5,375
Trade creditors 195,610 70,207
Amounts owed to group undertakings - 4,998
Taxation and social security 137,673 80,622
Other creditors 325,777 225,324
688,972 387,326

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans 1,200 1,933
Hire purchase contracts 94,669 11,198
95,869 13,131

8. SECURED DEBTS

The company has a secured debt facility, under which both fixed and floating charges have been granted. The debt is subject to standard covenants and compliance requirements as agreed with the lender.

9. RELATED PARTY DISCLOSURES

The directors Mr R Welch and Mrs A Welch are considered to be the key management personnel.