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REGISTERED NUMBER: 04666936 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

Sigma Electrical Ltd.

Sigma Electrical Ltd. (Registered number: 04666936)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Sigma Electrical Ltd.

COMPANY INFORMATION
for the year ended 30 April 2024







Director: J Honey





Secretary: Mrs C S Honey





Registered office: Abacus House
129 North Hill
Plymouth
Devon
PL4 8JY





Registered number: 04666936 (England and Wales)





Accountants: Websters
129 North Hill
Plymouth
Devon
PL4 8JY

Sigma Electrical Ltd. (Registered number: 04666936)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 55,525 47,462
55,525 47,462

Current assets
Stocks 1,020 1,020
Debtors 6 8,918 5,849
Cash at bank and in hand 69,892 57,998
79,830 64,867
Creditors
Amounts falling due within one year 7 22,920 33,634
Net current assets 56,910 31,233
Total assets less current liabilities 112,435 78,695

Creditors
Amounts falling due after more than one
year

8

(31,946

)

(29,136

)

Provisions for liabilities 9 (9,950 ) (9,010 )
Net assets 70,539 40,549

Capital and reserves
Called up share capital 10 100 100
Retained earnings 70,439 40,449
Shareholders' funds 70,539 40,549

Sigma Electrical Ltd. (Registered number: 04666936)

BALANCE SHEET - continued
30 April 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 January 2025 and were signed by:





J Honey - Director


Sigma Electrical Ltd. (Registered number: 04666936)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024

1. STATUTORY INFORMATION

Sigma Electrical Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, registered office and business address can be found on the company information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts invoiced in respect of goods and services, net of value added tax. Turnover is recognised according to the stage of completion of the contract and is adjusted for work in progress.

Goodwill
Goodwill is being written off in equal instalments over the director's estimate of its useful economic life of 5 years, having revised the previous policy of 20 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 15% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Sigma Electrical Ltd. (Registered number: 04666936)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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.

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.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Sigma Electrical Ltd. (Registered number: 04666936)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 May 2023
and 30 April 2024 20,000
Amortisation
At 1 May 2023
and 30 April 2024 20,000
Net book value
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Motor
Equipment vehicles Totals
£    £    £   
Cost
At 1 May 2023 9,144 67,242 76,386
Additions 22,221 - 22,221
Disposals - (15,400 ) (15,400 )
At 30 April 2024 31,365 51,842 83,207
Depreciation
At 1 May 2023 6,423 22,501 28,924
Charge for year 2,625 8,303 10,928
Eliminated on disposal - (12,170 ) (12,170 )
At 30 April 2024 9,048 18,634 27,682
Net book value
At 30 April 2024 22,317 33,208 55,525
At 30 April 2023 2,721 44,741 47,462

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 8,223 4,535
Other debtors 695 1,314
8,918 5,849

Sigma Electrical Ltd. (Registered number: 04666936)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,815 4,092
Hire purchase contracts 2,435 13,211
Taxation and social security 11,376 4,957
Other creditors 5,294 11,374
22,920 33,634

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 4,564 8,250
Hire purchase contracts 27,382 20,886
31,946 29,136

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 9,950 9,010

Deferred
tax
£   
Balance at 1 May 2023 9,010
Provided during year 940
Balance at 30 April 2024 9,950

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. RELATED PARTY TRANSACTIONS

At the year end the company owed £2,665 to J Honey, director. This loan is interest free and repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The company was ultimately controlled by J Honey.