2023-10-032024-10-312024-10-31false15182852J COLEMAN ELECTRICAL SERVICES 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J COLEMAN ELECTRICAL SERVICES LTD

Registered Number
15182852
(England and Wales)

Unaudited Financial Statements for the Period ended
31 October 2024

J COLEMAN ELECTRICAL SERVICES LTD
Company Information
for the period from 3 October 2023 to 31 October 2024

Director

COLEMAN, James

Company Secretary

STEVENSON, Tiffany

Registered Address

6 Edison Village
Nottingham Science & Technology Park
Nottingham
NG7 2RF

Registered Number

15182852 (England and Wales)
J COLEMAN ELECTRICAL SERVICES LTD
Balance Sheet as at
31 October 2024

Notes

2024

£

£

Fixed assets
Intangible assets35,400
Tangible assets413,585
18,985
Current assets
Debtors53,420
Cash at bank and on hand5,652
9,072
Creditors amounts falling due within one year6(20,515)
Net current assets (liabilities)(11,443)
Total assets less current liabilities7,542
Creditors amounts falling due after one year7(5,969)
Provisions for liabilities9(394)
Net assets1,179
Capital and reserves
Called up share capital100
Profit and loss account1,079
Shareholders' funds1,179
The financial statements were approved and authorised for issue by the Director on 6 January 2025, and are signed on its behalf by:
COLEMAN, James
Director
Registered Company No. 15182852
J COLEMAN ELECTRICAL SERVICES LTD
Notes to the Financial Statements
for the period ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

2024
Average number of employees during the year1
3.Intangible assets

Goodwill

Total

££
Cost or valuation
Additions6,0006,000
At 31 October 246,0006,000
Amortisation and impairment
Charge for year600600
At 31 October 24600600
Net book value
At 31 October 245,4005,400
At 02 October 23--
4.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
Additions2,92012,71217615,808
At 31 October 242,92012,71217615,808
Depreciation and impairment
Charge for year3601,85492,223
At 31 October 243601,85492,223
Net book value
At 31 October 242,56010,85816713,585
At 02 October 23----
5.Debtors: amounts due within one year

2024

£
Trade debtors / trade receivables1,260
Other debtors961
Prepayments and accrued income1,199
Total3,420
6.Creditors: amounts due within one year

2024

£
Amounts owed to related parties18,346
Finance lease and HP contracts2,169
Total20,515
7.Creditors: amounts due after one year

2024

£
Other creditors5,969
Total5,969
8.Obligations under finance leases

2024

£
Finance lease and HP contracts5,969
9.Provisions for liabilities

2024

£
Net deferred tax liability (asset)394
Total394
10.Related party transactions
During the year interest free loans were made available to the business by directors of £18,293.