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REGISTERED NUMBER: 10139821 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Integral Electrical Solutions Limited

Integral Electrical Solutions Limited (Registered number: 10139821)






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 9


Integral Electrical Solutions Limited

Company Information
for the year ended 30 April 2024







DIRECTORS: Mr D R Abraham
Mr P L Abraham





REGISTERED OFFICE: The Old Church
4 Churchill Road
Earls Barton
Northampton
Northamptonshire
NN6 0PQ





REGISTERED NUMBER: 10139821 (England and Wales)





ACCOUNTANTS: Clifford Roberts
Chartered Accountants
Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL

Integral Electrical Solutions Limited (Registered number: 10139821)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 855,356 694,837

CURRENT ASSETS
Stocks 5 267,467 232,480
Debtors 6 363,073 409,690
Cash at bank and in hand 135,756 146,169
766,296 788,339
CREDITORS
Amounts falling due within one year 7 1,050,755 815,748
NET CURRENT LIABILITIES (284,459 ) (27,409 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

570,897

667,428

CREDITORS
Amounts falling due after more than one
year

8

(330,375

)

(375,014

)

PROVISIONS FOR LIABILITIES 11 (76,341 ) (42,145 )
NET ASSETS 164,181 250,269

CAPITAL AND RESERVES
Called up share capital 12 122 122
Retained earnings 164,059 250,147
SHAREHOLDERS' FUNDS 164,181 250,269

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 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.

Integral Electrical Solutions Limited (Registered number: 10139821)

Balance Sheet - continued
30 April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 January 2025 and were signed on its behalf by:




Mr D R Abraham - Director



Mr P L Abraham - Director


Integral Electrical Solutions Limited (Registered number: 10139821)

Notes to the Financial Statements
for the year ended 30 April 2024

1. STATUTORY INFORMATION

Integral Electrical Solutions 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 applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A - "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102 Section 1A") and with the Companies Act 2006. The financial statements have been prepared under the historical cost basis.

The financial statements are presented in Sterling (£) and cover the period to the 30th April each year.

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

Turnover represents the installation of electrical systems.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Freehold improvements - 10% on cost
Plant and machinery - 33% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Work in progress
Work in progress is based on applications for payment that have been made but have yet to be agreed, paid and invoiced. These are ascertained in a manner appropriate to the stage of completion of the contract, and credit taken for profit earned where the outcome of work under contract can be assessed with reasonable certainty. Stage of completion is measured by completing surveys of work done. All foreseeable losses are provided for in full.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at undiscounted cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at undiscounted cost.

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


Integral Electrical Solutions Limited (Registered number: 10139821)

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 24 ) .

4. TANGIBLE FIXED ASSETS
Assets in
the
Freehold Freehold course of Plant and
property improvements construction machinery
£    £    £    £   
COST
At 1 May 2023 - - 526,259 14,508
Additions - 26,768 115,682 3,058
Disposals - - - -
Reclassification/transfer 561,220 80,721 (641,941 ) -
At 30 April 2024 561,220 107,489 - 17,566
DEPRECIATION
At 1 May 2023 - - - 9,392
Charge for year 11,224 16,906 - 2,846
Eliminated on disposal - - - -
At 30 April 2024 11,224 16,906 - 12,238
NET BOOK VALUE
At 30 April 2024 549,996 90,583 - 5,328
At 30 April 2023 - - 526,259 5,116

Integral Electrical Solutions Limited (Registered number: 10139821)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 11,093 322,476 53,885 928,221
Additions 7,317 128,504 8,812 290,141
Disposals - (60,298 ) - (60,298 )
Reclassification/transfer - - - -
At 30 April 2024 18,410 390,682 62,697 1,158,064
DEPRECIATION
At 1 May 2023 3,684 185,781 34,527 233,384
Charge for year 4,618 57,227 9,667 102,488
Eliminated on disposal - (33,164 ) - (33,164 )
At 30 April 2024 8,302 209,844 44,194 302,708
NET BOOK VALUE
At 30 April 2024 10,108 180,838 18,503 855,356
At 30 April 2023 7,409 136,695 19,358 694,837

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023 244,801
Additions 128,504
Disposals (60,298 )
Transfer to ownership (113,719 )
At 30 April 2024 199,288
DEPRECIATION
At 1 May 2023 111,396
Charge for year 53,937
Eliminated on disposal (33,164 )
Transfer to ownership (95,167 )
At 30 April 2024 37,002
NET BOOK VALUE
At 30 April 2024 162,286
At 30 April 2023 133,405

5. STOCKS
2024 2023
£    £   
Work-in-progress 267,467 232,480

Integral Electrical Solutions Limited (Registered number: 10139821)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 110,985 99,056
Other debtors 252,088 310,634
363,073 409,690

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 49,277 60,423
Trade creditors 409,303 443,294
Taxation and social security 11,572 50,858
Other creditors 580,603 261,173
1,050,755 815,748

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 85,392 54,415
Other creditors 244,983 320,599
330,375 375,014

Amounts falling due in more than five years:

Repayable by instalments
Debentures 160,454 168,667

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Debentures 204,993 213,206
Other loans 115,021 177,126
Hire purchase contracts 134,669 114,838
454,683 505,170

The hire purchase contracts are secured on the assets they finance. The contracts bear interest from 2.00% to 5.61%.

Integral Electrical Solutions Limited (Registered number: 10139821)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

10. FINANCIAL INSTRUMENTS

The company does not have significant exposure to foreign currency, liquidity and cash flow risks due to the nature of its trade. Exposure to interest rate, credit and market risks arise in the normal course of the company's business. These risks are limited by the company's financial management policies and practices described below.

Interest rate risk
The company is exposed to interest rate risk on its hire purchase contracts and bank borrowings. This risk is limited by negotiating the best fixed rate terms achievable, crystallising the risk and removing the sensitivity to a change in rates.

Credit risk
The company has exposure to credit risks predominately emanating from its customers. The company's exposure and its customers credit worthiness is monitored so that any potential problems are detected at an early stage. Regular billing helps to ensure that the exposure to credit risk is minimised.

Market risk
There is a market risk associated with the fluctuation in demand for the services provided by the company. Most of this is mitigated by monitoring the markets to ensure that overheads and costs are tailored to the demand for the services offered.

The company holds no derivative financial instruments at the year end.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 76,341 42,145

Deferred
tax
£   
Balance at 1 May 2023 42,145
Provided during year 34,196
Balance at 30 April 2024 76,341

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
120 Ordinary A £1 120 120
2 Ordinary B £1 2 2
122 122

13. PENSION COMMITMENTS

The company operates a defined contribution, auto enrolment, pension scheme for all its qualifying employees. The total expense charged to the profit and loss account in the period ended 30th April, 2024 was £8,397 (2023: £8,106). The amount outstanding as at the year end was £2,923 (2023: £2,047).

Integral Electrical Solutions Limited (Registered number: 10139821)

Notes to the Financial Statements - continued
for the year ended 30 April 2024

14. CONTINGENT LIABILITIES

There is a contingent liability in respect of a debenture in favour of HSBC UK Bank plc dated 6th April 2021, incorporating a fixed and floating charge over all current and future assets of the company and a negative pledge.

There is a second contingent liability in respect of a debenture in favour of HSBC UK Bank plc dated 18th June 2021, incorporating a legal mortgage over the freehold property known as Church of St Anselm, Churchill Road, Earls Barton, Northampton and containing a negative pledge.

15. RELATED PARTY DISCLOSURES

All material related party transactions with owners holding a participating interest were concluded under normal market conditions.