9 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 09664434 2023-07-01 2024-06-30 09664434 2024-06-30 09664434 2023-06-30 09664434 2022-07-01 2023-06-30 09664434 2023-06-30 09664434 2022-06-30 09664434 core:MotorVehicles 2023-07-01 2024-06-30 09664434 bus:Director1 2023-07-01 2024-06-30 09664434 bus:Director2 2023-07-01 2024-06-30 09664434 bus:Director3 2023-07-01 2024-06-30 09664434 core:LandBuildings 2023-06-30 09664434 core:MotorVehicles 2023-06-30 09664434 core:LandBuildings 2024-06-30 09664434 core:MotorVehicles 2024-06-30 09664434 core:LandBuildings 2023-07-01 2024-06-30 09664434 core:WithinOneYear 2024-06-30 09664434 core:WithinOneYear 2023-06-30 09664434 core:AfterOneYear 2024-06-30 09664434 core:AfterOneYear 2023-06-30 09664434 core:ShareCapital 2024-06-30 09664434 core:ShareCapital 2023-06-30 09664434 core:RetainedEarningsAccumulatedLosses 2024-06-30 09664434 core:RetainedEarningsAccumulatedLosses 2023-06-30 09664434 core:LandBuildings 2023-06-30 09664434 core:MotorVehicles 2023-06-30 09664434 bus:Director1 2024-06-30 09664434 bus:Director2 2023-06-30 09664434 bus:Director2 2024-06-30 09664434 bus:Director3 2023-06-30 09664434 bus:Director3 2024-06-30 09664434 bus:Director1 2022-06-30 09664434 bus:Director2 2022-06-30 09664434 bus:Director2 2023-06-30 09664434 bus:Director3 2022-06-30 09664434 bus:Director3 2023-06-30 09664434 bus:Director1 2022-07-01 2023-06-30 09664434 bus:Director2 2022-07-01 2023-06-30 09664434 bus:Director3 2022-07-01 2023-06-30 09664434 bus:SmallEntities 2023-07-01 2024-06-30 09664434 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 09664434 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 09664434 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 09664434 bus:FullAccounts 2023-07-01 2024-06-30 09664434 core:LandBuildings core:ShortLeaseholdAssets 2023-07-01 2024-06-30 09664434 core:OfficeEquipment 2023-07-01 2024-06-30 09664434 core:OfficeEquipment 2023-06-30 09664434 core:OfficeEquipment 2024-06-30 09664434 core:AllAssociates 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 09664434
Ludwell Electrical Services Limited
Filleted Unaudited Financial Statements
For the year ended
30 June 2024
Ludwell Electrical Services Limited
Balance Sheet
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
69,296
94,176
Current assets
Stocks
25,500
24,200
Debtors
6
289,060
433,364
Cash at bank and in hand
243,426
250,371
----------
----------
557,986
707,935
Creditors: amounts falling due within one year
7
400,557
500,319
----------
----------
Net current assets
157,429
207,616
----------
----------
Total assets less current liabilities
226,725
301,792
Creditors: amounts falling due after more than one year
8
9,167
19,167
Provisions
Taxation including deferred tax
13,217
17,463
----------
----------
Net assets
204,341
265,162
----------
----------
Capital and reserves
Called up share capital
3
3
Profit and loss account
204,338
265,159
----------
----------
Shareholders funds
204,341
265,162
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Ludwell Electrical Services Limited
Balance Sheet (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 25 October 2024 , and are signed on behalf of the board by:
M Ludwell
Director
Company registration number: 09664434
Ludwell Electrical Services Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 4, Euro Court, Tuscany Way, Wakefield Europort, Wakefield, WF6 2UA, West Yorkshire.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity. Monetary values included in the financial statements are rounded to the nearest £.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements under FRS 102 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts. These estimates and judgements are continually evaluated and are based on historical experience and other factors including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property
-
Over the remaining life of the lease
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 9 (2023: 10 ).
5. Tangible assets
Land and buildings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 July 2023
27,489
102,856
15,153
145,498
Additions
1,660
1,660
--------
----------
--------
----------
At 30 June 2024
27,489
102,856
16,813
147,158
--------
----------
--------
----------
Depreciation
At 1 July 2023
16,494
28,171
6,657
51,322
Charge for the year
5,498
18,671
2,371
26,540
--------
----------
--------
----------
At 30 June 2024
21,992
46,842
9,028
77,862
--------
----------
--------
----------
Carrying amount
At 30 June 2024
5,497
56,014
7,785
69,296
--------
----------
--------
----------
At 30 June 2023
10,995
74,685
8,496
94,176
--------
----------
--------
----------
6. Debtors
2024
2023
£
£
Trade debtors
286,497
433,364
Other debtors
2,563
----------
----------
289,060
433,364
----------
----------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
101,333
104,929
Corporation tax
112,265
175,740
Social security and other taxes
76,708
113,226
Other creditors
100,251
96,424
----------
----------
400,557
500,319
----------
----------
Included in "Other creditors" is an amount of £nil (2023: £8,252) due under hire purchase contracts which is secured on the assets being acquired.
Included within "Other creditors" is an amount of £88,910 (2023: £42,925) due to the directors. The balance is unsecured, interest free and repayable on demand.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
9,167
19,167
-------
--------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
M Ludwell
7,208
7,208
M E Ludwell
31,622
10,897
42,519
M S Ludwell
11,303
27,880
39,183
--------
--------
--------
42,925
45,985
88,910
--------
--------
--------
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
M Ludwell
( 31,529)
31,529
M E Ludwell
( 7,476)
( 24,146)
( 31,622)
M S Ludwell
( 251)
( 11,052)
( 11,303)
--------
--------
--------
( 39,256)
( 3,669)
( 42,925)
--------
--------
--------
10. Related party transactions
Included within "Other creditors" (note 7) is an amount of £6,731 (2023: £41,386) due to Ludwell Electrical Limited, a company controlled by the directors. The balance is unsecured, interest free and repayable on demand .