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Registered Number: 11829634
England and Wales

 

 

 

DOWNMAC ELECTRICAL LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 May 2023

End date: 30 April 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 14,000    16,000 
Tangible fixed assets 4 27,802    36,315 
41,802    52,315 
Current assets      
Debtors 63,733    12,978 
Cash at bank and in hand 19,775    22,375 
83,508    35,353 
Creditors: amount falling due within one year (72,349)   (46,986)
Net current assets 11,159    (11,633)
 
Total assets less current liabilities 52,961    40,682 
Creditors: amount falling due after more than one year (13,325)   (25,038)
Net assets 39,636    15,644 
 

Capital and reserves
     
Called up share capital 5 100    100 
Profit and loss account 39,536    15,544 
Shareholders' funds 39,636    15,644 
 


For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 08 November 2024 and were signed on its behalf by:


-------------------------------
Ben McDaid
Director
1
General Information
Downmac Electrical Limited is a private company, limited by shares, registered in England and Wales, registration number 11829634, registration address The Foundry, Marcus Street , Wirral, Merseyside, CH41 1EU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Computer Equipment 25% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
2.

Average number of employees (including Directors)

Average number of employees during the year was 6 (2023 : 4).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 May 2023 20,000    20,000 
Additions  
Disposals  
At 30 April 2024 20,000    20,000 
Amortisation
At 01 May 2023 4,000    4,000 
Charge for year 2,000    2,000 
On disposals  
At 30 April 2024 6,000    6,000 
Net book values
At 30 April 2024 14,000    14,000 
At 30 April 2023 16,000    16,000 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Total
  £   £   £
At 01 May 2023 55,858    1,333    57,191 
Additions   781    781 
Disposals    
At 30 April 2024 55,858    2,114    57,972 
Depreciation
At 01 May 2023 19,916    960    20,876 
Charge for year 8,985    309    9,294 
On disposals    
At 30 April 2024 28,901    1,269    30,170 
Net book values
Closing balance as at 30 April 2024 26,957    845    27,802 
Opening balance as at 01 May 2023 35,942    373    36,315 

The net book value of Plant and Machinery includes £ 23,476 (2023 £31,301) in respect of assets leased under finance leases or hire purchase contracts.

5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

2