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Registration number: 10632372

Alect Electrical Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Alect Electrical Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Alect Electrical Services Limited

Company Information

Directors

Sean Shapcott

Ms Laura Johnson

Aime Shapcott

James Cale

Registered office

Unit 6
Soloman Road
Ilkeston
Derbyshire
DE7 5UE

Accountants

Andrew Warren Associates

 

Alect Electrical Services Limited

(Registration number: 10632372)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

206,576

96,700

Current assets

 

Debtors

5

655,714

407,888

Cash at bank and in hand

 

76,249

181,050

 

731,963

588,938

Creditors: Amounts falling due within one year

6

(527,748)

(546,755)

Net current assets

 

204,215

42,183

Total assets less current liabilities

 

410,791

138,883

Creditors: Amounts falling due after more than one year

6

(125,433)

(137,975)

Net assets

 

285,358

908

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

285,258

808

Shareholders' funds

 

285,358

908

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 December 2024 and signed on its behalf by:
 

 

Alect Electrical Services Limited

(Registration number: 10632372)
Balance Sheet as at 31 March 2024

.........................................
Sean Shapcott
Director

.........................................
Aime Shapcott
Director

 

Alect Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 6
Soloman Road
Ilkeston
Derbyshire
DE7 5UE
England

These financial statements were authorised for issue by the Board on 3 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Alect Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinerey

20% on cost

Motor Vehicles

20% on Cost

Computer Equipment

20% on Cost

Furniture & Fittings

20% on Cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Alect Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 36 (2023 - 39).

 

Alect Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

9,035

43,629

129,369

182,033

Additions

-

165,500

-

165,500

At 31 March 2024

9,035

209,129

129,369

347,533

Depreciation

At 1 April 2023

5,856

32,220

47,257

85,333

Charge for the year

1,059

32,005

22,560

55,624

At 31 March 2024

6,915

64,225

69,817

140,957

Carrying amount

At 31 March 2024

2,120

144,904

59,552

206,576

At 31 March 2023

3,179

11,409

82,112

96,700

5

Debtors

Current

2024
£

2023
£

Trade debtors

555,153

337,226

Other debtors

100,561

70,662

 

655,714

407,888

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

72,732

98,388

Trade creditors

 

262,357

237,768

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

20,100

-

Taxation and social security

 

170,259

223,801

Other creditors

 

2,300

(13,202)

 

527,748

546,755

Creditors: amounts falling due after more than one year

 

Alect Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

125,433

137,975

7

Share capital

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

125,433

137,975

2024
£

2023
£

Current loans and borrowings

Bank borrowings

72,732

98,388

9

Related party transactions

 

Alect Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

179,650

150,100