Company Registration No. 09998262 (England and Wales)
Sunfield Electrical Ltd
Unaudited accounts
for the year ended 29 February 2024
Sunfield Electrical Ltd
Statement of financial position
as at 29 February 2024
Tangible assets
29,947
39,086
Creditors: amounts falling due within one year
(108,655)
(104,911)
Net current assets
51,225
62,573
Total assets less current liabilities
81,172
101,659
Creditors: amounts falling due after more than one year
(47,194)
(54,934)
Provisions for liabilities
Deferred tax
(5,690)
(7,426)
Called up share capital
100
100
Profit and loss account
28,188
39,199
Shareholders' funds
28,288
39,299
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 November 2024 and were signed on its behalf by
James Stainsby
Director
Company Registration No. 09998262
Sunfield Electrical Ltd
Notes to the Accounts
for the year ended 29 February 2024
Sunfield Electrical Ltd is a private company, limited by shares, registered in England and Wales, registration number 09998262. The registered office is 9 Sun Street, Stanningley, Pudsey, LS28 6DJ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and Value Added Tax.
Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Computer equipment
33% straight line basis
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Leasing and hire purchase contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Current tax, including UK corporation tax, is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted, or substantively enacted, by the balance sheet date.
Sunfield Electrical Ltd
Notes to the Accounts
for the year ended 29 February 2024
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is measured using the tax rates and laws that have been enacted, or substantively enacted, by the balance sheet date and are expected to apply to the reversal of the timing difference.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an Annual General Meeting.
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Tangible fixed assets
Total
At 29 February 2024
53,454
At 29 February 2024
23,507
At 29 February 2024
29,947
At 28 February 2023
39,086
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
65,277
70,385
74,112
61,550
65,277
70,385
74,112
61,550
The above loan is included with in other debtors. Interest totalling £1,616 has been charged during the year at a rate of 2.25%.
Sunfield Electrical Ltd
Notes to the Accounts
for the year ended 29 February 2024
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Average number of employees
During the year the average number of employees was 6 (2023: 6).