Registered number
11840560
ILLUME ELECTRICAL CONTRACTORS LIMITED
Unaudited Filleted Accounts
27 February 2024
ILLUME ELECTRICAL CONTRACTORS LIMITED
Registered number: 11840560
Balance Sheet
as at 27 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 42,665 58,495
Current assets
Debtors 4 442,524 314,812
Cash at bank and in hand 86,388 69,779
528,912 384,591
Creditors: amounts falling due within one year 5 (293,508) (184,942)
Net current assets 235,404 199,649
Total assets less current liabilities 278,069 258,144
Creditors: amounts falling due after more than one year 6 (19,534) (63,378)
Net assets 258,535 194,766
Capital and reserves
Called up share capital 100 100
Profit and loss account 258,435 194,666
Shareholders' funds 258,535 194,766
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Marshall
Director
Approved by the board on 26 November 2024
ILLUME ELECTRICAL CONTRACTORS LIMITED
Notes to the Accounts
for the year ended 27 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% reducing balance
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 28 February 2023 21,494 54,000 75,494
Disposals - - -
At 27 February 2024 21,494 54,000 75,494
Depreciation
At 28 February 2023 9,124 7,875 16,999
Charge for the year 4,299 11,531 15,830
At 27 February 2024 13,423 19,406 32,829
Net book value
At 27 February 2024 8,071 34,594 42,665
At 27 February 2023 12,370 46,125 58,495
4 Debtors 2024 2023
£ £
Trade debtors 129,305 39,954
Amounts owed by group undertakings and undertakings in which the company has a participating interest 169,242 185,753
Other debtors 143,977 89,105
442,524 314,812
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 30,986 -
Trade creditors 80,633 80,580
Taxation and social security costs 180,029 103,464
Other creditors 1,860 898
293,508 184,942
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 19,534 25,260
Obligations under finance lease and hire purchase contracts - 38,118
19,534 63,378
7 Controlling party
At the year end the company was owed £173,242 by related parties (2023: £189,753)
8 Other information
ILLUME ELECTRICAL CONTRACTORS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
1st Floor Quadrant House
9 Heath Road
Weybridge
Surrey
KT13 8SX
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