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REGISTERED NUMBER: 10457979 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2023

FOR

ODOM ELECTRICAL LIMITED

ODOM ELECTRICAL LIMITED (REGISTERED NUMBER: 10457979)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ODOM ELECTRICAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH NOVEMBER 2023







DIRECTOR: Mr EHJ Odom





REGISTERED OFFICE: 9 Penn Street
Oakham
Rutland
LE15 6BB





REGISTERED NUMBER: 10457979 (England and Wales)





ACCOUNTANTS: Bewers Turner & Co LLP
Chartered Accountants
Portland House
11-13 Station Road
Kettering
Northamptonshire
NN15 7HH

ODOM ELECTRICAL LIMITED (REGISTERED NUMBER: 10457979)

BALANCE SHEET
30TH NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 47,090 22,539

CURRENT ASSETS
Stocks 500 2,245
Debtors 5 98,767 66,594
Cash at bank 4,430 6,291
103,697 75,130
CREDITORS
Amounts falling due within one year 6 57,366 59,344
NET CURRENT ASSETS 46,331 15,786
TOTAL ASSETS LESS CURRENT
LIABILITIES

93,421

38,325

CREDITORS
Amounts falling due after more than one
year

7

(93,259

)

(33,791

)

PROVISIONS FOR LIABILITIES - (4,282 )
NET ASSETS 162 252

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 62 152
SHAREHOLDERS' FUNDS 162 252

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2023 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.

ODOM ELECTRICAL LIMITED (REGISTERED NUMBER: 10457979)

BALANCE SHEET - continued
30TH NOVEMBER 2023


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 director and authorised for issue on 29th November 2024 and were signed by:





Mr EHJ Odom - Director


ODOM ELECTRICAL LIMITED (REGISTERED NUMBER: 10457979)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023


1. STATUTORY INFORMATION

Odom Electrical Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historic cost basis.

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

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 - 25% on reducing balance
Computer equipment - 25% 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.

Financial instruments
The company is party to only basic financial instruments such as cash, trade debtors and creditors, and bank loans. Instruments such as trade debtors and creditors are initially recognised at their transaction cost and reviewed at the year end for impairment. Debt instruments not repayable on demand or due within one year, such as bank loans, are measured at amortised cost using the effective interest rate.

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.


ODOM ELECTRICAL LIMITED (REGISTERED NUMBER: 10457979)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023


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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st December 2022 2,034 29,487 301 31,822
Additions - 31,499 - 31,499
At 30th November 2023 2,034 60,986 301 63,321
DEPRECIATION
At 1st December 2022 1,664 7,372 247 9,283
Charge for year 93 6,841 14 6,948
At 30th November 2023 1,757 14,213 261 16,231
NET BOOK VALUE
At 30th November 2023 277 46,773 40 47,090
At 30th November 2022 370 22,115 54 22,539

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,567 2,552
Other debtors 96,200 64,042
98,767 66,594

ODOM ELECTRICAL LIMITED (REGISTERED NUMBER: 10457979)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,152 4,935
Hire purchase contracts 8,655 3,802
Trade creditors 26,267 35,535
Taxation and social security 10,464 13,169
Other creditors 1,828 1,903
57,366 59,344

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 51,572 12,890
Hire purchase contracts 41,687 20,901
93,259 33,791

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 50,342 24,703

The hire purchase liabilities are secured against the assets to which they relate.