Registered number
13549767
AF Electrical & Mechanical Contractors Limited
Filleted Accounts
31 August 2024
AF Electrical & Mechanical Contractors Limited
Registered number: 13549767
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 46,346 51,410
46,346 51,410
Current assets
Stocks 10,125 4,223
Debtors 4 - 9,868
Cash at bank and in hand 4,825 1,971
14,950 16,062
Creditors: amounts falling due within one year 5 (7,554) (1,000)
Net current assets 7,396 15,062
Total assets less current liabilities 53,742 66,472
Creditors: amounts falling due after more than one year 6 (34,569) (67,887)
Net assets/(liabilities) 19,173 (1,415)
Capital and reserves
Called up share capital 100 100
Profit and loss account 19,073 (1,515)
Shareholders' funds 19,173 (1,415)
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.
Anas Faizan
Director
Approved by the board on 17 January 2025
AF Electrical & Mechanical Contractors Limited
Notes to the Accounts
for the year ended 31 August 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.
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:
Plant and machinery over 5 years
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2023 - - 67,596 67,596
Additions - - 6,522 6,522
At 31 August 2024 - - 74,118 74,118
Depreciation
At 1 September 2023 - - 16,186 16,186
Charge for the year - - 11,586 11,586
At 31 August 2024 - - 27,772 27,772
Net book value
At 31 August 2024 - - 46,346 46,346
At 31 August 2023 - - 51,410 51,410
4 Debtors 2024 2023
£ £
Other debtors - 9,868
- 9,868
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 6,554 -
Other creditors 1,000 1,000
7,554 1,000
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 34,569 67,887
34,569 67,887
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