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COMPANY REGISTRATION NUMBER: 12997590
4Eightyseven Electrical Ltd
Filleted Unaudited Financial Statements
30 November 2023
4Eightyseven Electrical Ltd
Financial Statements
Year ended 30 November 2023
Contents
Page
Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
3
4Eightyseven Electrical Ltd
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of 4Eightyseven Electrical Ltd
Year ended 30 November 2023
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 30 November 2023, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
VAGHELA & CO. (SERVICES) LTD. Chartered Certified Accountants
P.O. Box 10901 Birmingham B1 1ZQ
27 November 2024
4Eightyseven Electrical Ltd
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Current assets
Stocks
5
20,154
15,655
Debtors
6
10,176
21,359
Cash at bank and in hand
4,861
2,603
--------
--------
35,191
39,617
Creditors: amounts falling due within one year
7
36,870
42,790
--------
--------
Net current liabilities
1,679
3,173
-------
-------
Total assets less current liabilities
( 1,679)
( 3,173)
-------
-------
Net liabilities
( 1,679)
( 3,173)
-------
-------
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
( 1,779)
( 3,273)
-------
-------
Shareholders deficit
( 1,679)
( 3,173)
-------
-------
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 statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 27 November 2024 , and are signed on behalf of the board by:
Mr M.S. Bargotta
Director
Company registration number: 12997590
4Eightyseven Electrical Ltd
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Studio 10, Clark's Courtyard, 145 Granville Street, Birmingham, B1 1SB.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Stocks
2023
2022
£
£
Raw materials and consumables
20,154
15,655
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
3,440
Other debtors
6,736
21,359
--------
--------
10,176
21,359
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,595
Social security and other taxes
2,107
Other creditors
34,763
41,195
--------
--------
36,870
42,790
--------
--------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
9. Director's advances, credits and guarantees
At 30th November 2023, other creditors include the following amounts due to the director:- Mr M.S. Bargotta £34,484 (£34,865 - 2022) The loans are interest free and repayable on demand