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Registered Number: 05242026


 

 

 

YARE ELECTRICAL SERVICES LTD


Abridged Accounts
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 30,597    39,190 
30,597    39,190 
Current assets      
Debtors 98,427    140,621 
Cash at bank and in hand 212,186    125,061 
310,613    265,682 
Creditors: amount falling due within one year (152,294)   (144,341)
Net current assets 158,319    121,341 
 
Total assets less current liabilities 188,916    160,531 
Creditors: amount falling due after more than one year (15,900)   (22,685)
Net assets 173,016    137,846 
 

Capital and reserves
     
Called up share capital 4 20    20 
Profit and loss account 172,996    137,826 
Shareholders' funds 173,016    137,846 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 28 November 2024 and were signed by:


-------------------------------
Shaun Moore
Director
1
General Information
Yare Electrical Services Ltd is a private company, limited by shares, registered in , registration number 05242026, registration address C/O Jermyn & Co, Unit 3, Hill Farm, Kirby Road, Norwich, Norfolk, NR14 7DU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 15% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 7).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 March 2023 4,653    80,437    8,024    93,114 
Additions 1,400        1,400 
Disposals   (225)     (225)
At 29 February 2024 6,053    80,212    8,024    94,289 
Depreciation
At 01 March 2023 3,527    43,080    7,317    53,924 
Charge for year 379    9,283    106    9,768 
On disposals      
At 29 February 2024 3,906    52,363    7,423    63,692 
Net book values
Closing balance as at 29 February 2024 2,147    27,849    601    30,597 
Opening balance as at 01 March 2023 1,126    37,357    707    39,190 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
20 Ordinary shares of £1.00 each 20    20 
20    20 

2