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WOLF ELECTRICAL INSTALLATIONS LIMITED

Registered Number
03201643
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

WOLF ELECTRICAL INSTALLATIONS LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

TOPLIS, Clive Michael

Company Secretary

TOPLIS, Birgit Anne

Registered Address

27 Cliffgrove Avenue
Beeston
Nottingham
NG9 4DP

Registered Number

03201643 (England and Wales)
WOLF ELECTRICAL INSTALLATIONS LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets34,4004,400
Tangible assets415,78420,483
20,18424,883
Current assets
Stocks52,0005,672
Debtors634,75858,830
Cash at bank and on hand69,03752,124
105,795116,626
Creditors amounts falling due within one year7(42,544)(31,051)
Net current assets (liabilities)63,25185,575
Total assets less current liabilities83,435110,458
Net assets83,435110,458
Capital and reserves
Called up share capital22
Profit and loss account83,433110,456
Shareholders' funds83,435110,458
The financial statements were approved and authorised for issue by the Director on 26 January 2025, and are signed on its behalf by:
TOPLIS, Clive Michael
Director
Registered Company No. 03201643
WOLF ELECTRICAL INSTALLATIONS LIMITED
Notes to the Financial Statements
for the year ended 31 May 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).
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Turnover policy
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 rendering of services.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Interest income
Interest income is recognised using the effective interest rate method.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
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.
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 machinery20
Fixtures and fittings20
Vehicles25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other 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.
Trade and other 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.
2.Average number of employees

20242023
Average number of employees during the year44
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 June 234,4004,400
At 31 May 244,4004,400
Net book value
At 31 May 244,4004,400
At 31 May 234,4004,400
4.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 June 2327,04570,11218,032115,189
Additions--11
At 31 May 2427,04570,11218,033115,190
Depreciation and impairment
At 01 June 2322,93658,07613,69494,706
Charge for year8223,0108684,700
At 31 May 2423,75861,08614,56299,406
Net book value
At 31 May 243,2879,0263,47115,784
At 31 May 234,10912,0364,33820,483
5.Stocks

2024

2023

££
Raw materials and consumables2,000350
Work in progress-5,322
Total2,0005,672
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables31,74347,467
Other debtors207,280
Prepayments and accrued income2,9954,083
Total34,75858,830
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables5,0531,405
Bank borrowings and overdrafts3,4323,478
Taxation and social security21,73516,738
Other creditors6,1702,757
Accrued liabilities and deferred income6,1546,673
Total42,54431,051