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REGISTERED NUMBER: 00726656 (England and Wales)















WARDS ELECTRIC (BERMONDSEY) LIMITED

Unaudited Financial Statements

for the Year Ended 31 May 2024






WARDS ELECTRIC (BERMONDSEY) LIMITED (REGISTERED NUMBER: 00726656)

Contents of the Financial Statements
for the year ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WARDS ELECTRIC (BERMONDSEY) LIMITED

Company Information
for the year ended 31 May 2024







Directors: Mr George Ward
Mr Samuel Ward





Secretary: Mr George Ward





Registered office: 94 Bromley Common
Bromley
Kent
BR2 9PF





Registered number: 00726656 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

WARDS ELECTRIC (BERMONDSEY) LIMITED (REGISTERED NUMBER: 00726656)

Balance Sheet
31 May 2024

2024 2023
Notes £ £
Fixed assets
Tangible assets 4 413 1
Investments 5 97,269 88,105
Investment property 6 570,000 190,000
667,682 278,106

Current assets
Debtors 7 76 76
Cash at bank 3,781 14,526
3,857 14,602
Creditors
Amounts falling due within one year 8 (10,033 ) (4,619 )
Net current (liabilities)/assets (6,176 ) 9,983
Total assets less current liabilities 661,506 288,089

Provisions for liabilities (121,597 ) (25,170 )
Net assets 539,909 262,919

Capital and reserves
Called up share capital 9 110 110
Retained earnings 10 539,799 262,809
Shareholders' funds 539,909 262,919

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

WARDS ELECTRIC (BERMONDSEY) LIMITED (REGISTERED NUMBER: 00726656)

Balance Sheet - continued
31 May 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:





Mr George Ward - Director


WARDS ELECTRIC (BERMONDSEY) LIMITED (REGISTERED NUMBER: 00726656)

Notes to the Financial Statements
for the year ended 31 May 2024


1. Statutory information

Wards Electric (Bermondsey) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes
in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

WARDS ELECTRIC (BERMONDSEY) LIMITED (REGISTERED NUMBER: 00726656)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


4. Tangible fixed assets
Fixtures
Plant and and
machinery fittings Totals
£ £ £
Cost
At 1 June 2023 1,748 775 2,523
Additions - 550 550
At 31 May 2024 1,748 1,325 3,073
Depreciation
At 1 June 2023 1,747 775 2,522
Charge for year - 138 138
At 31 May 2024 1,747 913 2,660
Net book value
At 31 May 2024 1 412 413
At 31 May 2023 1 - 1

5. Fixed asset investments
Other
investments
£
Cost or valuation
At 1 June 2023 88,105
Additions 3,456
Revaluations 5,708
At 31 May 2024 97,269
Net book value
At 31 May 2024 97,269
At 31 May 2023 88,105

WARDS ELECTRIC (BERMONDSEY) LIMITED (REGISTERED NUMBER: 00726656)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


5. Fixed asset investments - continued

Cost or valuation at 31 May 2024 is represented by:

Other
investments
£
Valuation in 2015 112,565
Valuation in 2016 (148,033 )
Valuation in 2017 3,512
Valuation in 2018 13,866
Valuation in 2019 (19,446 )
Valuation in 2020 (21,628 )
Valuation in 2021 14,508
Valuation in 2022 (9,566 )
Valuation in 2023 11,852
Valuation in 2024 5,708
Cost 133,931
97,269

6. Investment property
Total
£
Fair value
At 1 June 2023 190,000
Revaluations 380,000
At 31 May 2024 570,000
Net book value
At 31 May 2024 570,000
At 31 May 2023 190,000

Fair value at 31 May 2024 is represented by:
£
Valuation in 2017 5,000
Valuation in 2016 5,000
Valuation in 2015 180,000
Valuation in 2024 380,000
570,000

The investment property was valued on an open market basis on 31 May 2024 by the directors of the company .

7. Debtors: amounts falling due within one year
2024 2023
£ £
Other debtors 76 76

WARDS ELECTRIC (BERMONDSEY) LIMITED (REGISTERED NUMBER: 00726656)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


8. Creditors: amounts falling due within one year
2024 2023
£ £
Other creditors 10,033 4,619

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
110 Ordinary shares £1 110 110

10. Reserves
Retained
earnings
£

At 1 June 2023 262,809
Profit for the year 276,990
At 31 May 2024 539,799