Registered number
03372941
Harry Burnicle Electrical Contractors Limited
Filleted Accounts
31 March 2024
Harry Burnicle Electrical Contractors Limited
Report to the directors on the preparation of the unaudited statutory accounts of Harry Burnicle Electrical Contractors Limited for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Harry Burnicle Electrical Contractors Limited for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
1st Cloud Accountants
1st Cloud Accountants
Chartered Certified Accountants
Analysis House
117 - 119 Sea Road
Fulwell
Sunderland
SR6 9EQ
18 July 2024
Harry Burnicle Electrical Contractors Limited
Registered number: 03372941
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 263,987 146,530
Investments 5 399 399
264,386 146,929
Current assets
Stocks 20,000 20,544
Debtors 6 495,733 237,266
Cash at bank and in hand 376,799 404,850
892,532 662,660
Creditors: amounts falling due within one year 7 (342,651) (336,771)
Net current assets 549,881 325,889
Total assets less current liabilities 814,267 472,818
Creditors: amounts falling due after more than one year 8 (106,673) (73,837)
Provisions for liabilities (65,997) (35,080)
Net assets 641,597 363,901
Capital and reserves
Called up share capital 10,206 10,206
Profit and loss account 631,391 353,695
Shareholders' funds 641,597 363,901
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Burnicle
Director
Approved by the board on 24 July 2024
Harry Burnicle Electrical Contractors Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% on reducing balance
Computer Equipment 25% on reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 17 17
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 150,000
At 31 March 2024 150,000
Amortisation
At 1 April 2023 150,000
At 31 March 2024 150,000
Net book value
At 31 March 2024 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 32,324 292,744 325,068
Additions 3,762 166,547 170,309
Disposals - (42,731) (42,731)
At 31 March 2024 36,086 416,560 452,646
Depreciation
At 1 April 2023 23,869 154,669 178,538
Charge for the year 2,784 41,518 44,302
On disposals - (34,181) (34,181)
At 31 March 2024 26,653 162,006 188,659
Net book value
At 31 March 2024 9,433 254,554 263,987
At 31 March 2023 8,455 138,075 146,530
5 Investments
Other
investments
£
Cost
At 1 April 2023 399
At 31 March 2024 399
Historical cost
At 1 April 2023 399
At 31 March 2024 399
6 Debtors 2024 2023
£ £
Trade debtors 336,423 221,342
Other debtors 159,310 15,924
495,733 237,266
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,211 5,210
Obligations under finance lease and hire purchase contracts 51,278 26,545
Directors' loan accounts 5,860 23,692
Trade creditors 73,430 129,837
Taxation and social security costs 191,307 132,124
Other creditors 15,565 19,363
342,651 336,771
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 30,244 35,495
Obligations under finance lease and hire purchase contracts 76,429 38,342
106,673 73,837
9 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 5,909 11,630
10 Other information
Harry Burnicle Electrical Contractors Limited is a private company limited by shares and incorporated in England. Its registered office is:
216 Hylton Road
Sunderland
Tyne and Wear
SR4 7UZ
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