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REGISTERED NUMBER: 11331207 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

WDS ELECTRICAL SERVICES LTD

WDS ELECTRICAL SERVICES LTD (REGISTERED NUMBER: 11331207)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WDS ELECTRICAL SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr M A Woods
Mrs M Woods
Mr B A Woods





REGISTERED OFFICE: Melrose House West End Road
Benington
Boston
United Kingdom
PE22 0BU





REGISTERED NUMBER: 11331207 (England and Wales)





ACCOUNTANTS: Cube Partners Limited
Chartered Accountants
5 Giffard Court
Millbrook Close
Northampton
Northamptonshire
NN5 5JF

WDS ELECTRICAL SERVICES LTD (REGISTERED NUMBER: 11331207)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 16,116 20,284
16,116 20,284

CURRENT ASSETS
Stocks 9,450 5,439
Debtors 6 19,532 34,172
Cash at bank 1,702 757
30,684 40,368
CREDITORS
Amounts falling due within one year 7 83,952 70,756
NET CURRENT LIABILITIES (53,268 ) (30,388 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(37,152

)

(10,104

)

CREDITORS
Amounts falling due after more than one year 8 25,052 31,376
NET LIABILITIES (62,204 ) (41,480 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (62,304 ) (41,580 )
(62,204 ) (41,480 )

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.

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 Statement of Income and Retained Earnings 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:





Mr M A Woods - Director


WDS ELECTRICAL SERVICES LTD (REGISTERED NUMBER: 11331207)

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

1. STATUTORY INFORMATION

Wds Electrical Services 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 (£).


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 financial statements have been prepared on the going concern basis despite a negative position at the year end. The directors have confirmed their continued support to the company.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 20% on reducing balance
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 Statement of Income and Retained Earnings, 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.

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

WDS ELECTRICAL SERVICES LTD (REGISTERED NUMBER: 11331207)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 25,000
AMORTISATION
At 1 April 2023
and 31 March 2024 25,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 10,352 18,495 3,289 32,136
DEPRECIATION
At 1 April 2023 8,231 336 3,285 11,852
Charge for year 532 3,632 4 4,168
At 31 March 2024 8,763 3,968 3,289 16,020
NET BOOK VALUE
At 31 March 2024 1,589 14,527 - 16,116
At 31 March 2023 2,121 18,159 4 20,284

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10,594 28,644
Other debtors 8,938 5,528
19,532 34,172

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,364 12,327
Hire purchase contracts (see note 9) 3,519 3,519
Trade creditors 10,640 16,520
Taxation and social security 5,736 2,298
Other creditors 54,693 36,092
83,952 70,756

WDS ELECTRICAL SERVICES LTD (REGISTERED NUMBER: 11331207)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 14,496 17,301
Hire purchase contracts (see note 9) 10,556 14,075
25,052 31,376

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,273 6,078

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 3,519 3,519
Between one and five years 10,556 14,075
14,075 17,594

As at 31 March 2024 the company was committed to making payments of £11,510 (2023 - £17,582) under non-cancellable operating leases.

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 14,075 17,594