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REGISTERED NUMBER: 07782700 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 January 2024

for

Reed Electrical Contractors Ltd

Reed Electrical Contractors Ltd (Registered number: 07782700)






Contents of the Financial Statements
for the Year Ended 30 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Reed Electrical Contractors Ltd

Company Information
for the Year Ended 30 January 2024







DIRECTOR: Mr A Reed





REGISTERED OFFICE: 5 Eastlands
Stradbroke
Suffolk
IP21 5JA





REGISTERED NUMBER: 07782700 (England and Wales)





ACCOUNTANTS: Turner & Ellerby
Chartered Certified Accountants
5 Church Street
Framlingham
Woodbridge
Suffolk
IP13 9BQ

Reed Electrical Contractors Ltd (Registered number: 07782700)

Balance Sheet
30 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,440 4,142
2,440 4,142

CURRENT ASSETS
Stocks 29,410 32,968
Debtors 6 47,061 103,364
Cash at bank 8,844 3,106
85,315 139,438
CREDITORS
Amounts falling due within one year 7 58,662 121,046
NET CURRENT ASSETS 26,653 18,392
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,093

22,534

CREDITORS
Amounts falling due after more than one
year

8

21,244

20,724
NET ASSETS 7,849 1,810

CAPITAL AND RESERVES
Called up share capital 250 250
Retained earnings 7,599 1,560
SHAREHOLDERS' FUNDS 7,849 1,810

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Reed Electrical Contractors Ltd (Registered number: 07782700)

Balance Sheet - continued
30 January 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 November 2024 and were signed by:





Mr A Reed - Director


Reed Electrical Contractors Ltd (Registered number: 07782700)

Notes to the Financial Statements
for the Year Ended 30 January 2024

1. STATUTORY INFORMATION

Reed Electrical Contractors 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.

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.



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 2013, is being amortised evenly over its estimated useful life of ten 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 - 20% on reducing balance
Motor vehicles - 20% on 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Reed Electrical Contractors Ltd (Registered number: 07782700)

Notes to the Financial Statements - continued
for the Year Ended 30 January 2024

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 31 January 2023
and 30 January 2024 20,400
AMORTISATION
At 31 January 2023
and 30 January 2024 20,400
NET BOOK VALUE
At 30 January 2024 -
At 30 January 2023 -

Reed Electrical Contractors Ltd (Registered number: 07782700)

Notes to the Financial Statements - continued
for the Year Ended 30 January 2024

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 31 January 2023 2,370 33,642 36,012
Disposals - (12,794 ) (12,794 )
At 30 January 2024 2,370 20,848 23,218
DEPRECIATION
At 31 January 2023 2,166 29,704 31,870
Charge for year 41 570 611
Eliminated on disposal - (11,703 ) (11,703 )
At 30 January 2024 2,207 18,571 20,778
NET BOOK VALUE
At 30 January 2024 163 2,277 2,440
At 30 January 2023 204 3,938 4,142

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 38,899 49,082
CIS Tax 8,162 54,282
47,061 103,364

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 8,828 10,264
Tax 2,741 962
Social security and other taxes (16,622 ) 41,599
VAT 14,568 17,078
Directors' current accounts 36,647 45,643
Accrued expenses 12,500 5,500
58,662 121,046

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans (see note 9) 21,244 20,724

Reed Electrical Contractors Ltd (Registered number: 07782700)

Notes to the Financial Statements - continued
for the Year Ended 30 January 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 21,244 20,724

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Other loans more 5yrs instal 21,244 20,724