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Registration number: NI630620

Strain Electrical Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Strain Electrical Services Ltd

(Registration number: NI630620)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

63

79

Current assets

 

Debtors

5

31,363

31,380

Cash at bank and in hand

 

25,990

26,957

 

57,353

58,337

Creditors: Amounts falling due within one year

6

(500)

(922)

Net current assets

 

56,853

57,415

Net assets

 

56,916

57,494

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

56,914

57,492

Shareholders' funds

 

56,916

57,494

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Strain Electrical Services Ltd

(Registration number: NI630620)
Balance Sheet as at 30 April 2024

Approved and authorised by the director on 7 October 2024
 

.........................................
Mr Alan Mulholland
Director

 

Strain Electrical Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 6 New Ferry Road, Bellaghy, Magherafelt, BT45 8ND.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Government grants

Revenue grants are credited to the profit and loss account in the period in which the related expenditure is incurred.

 

Strain Electrical Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tax

Current tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. The carrying value of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Profit and Loss Account under operating expenses.

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 3).

 

Strain Electrical Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 May 2023

378

378

At 30 April 2024

378

378

Depreciation

At 1 May 2023

299

299

Charge for the year

16

16

At 30 April 2024

315

315

Carrying amount

At 30 April 2024

63

63

At 30 April 2023

79

79

5

Debtors

2024
£

2023
£

Other debtors

31,363

31,380

 

Strain Electrical Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Creditors

2024
£

2023
£

Due within one year

Trade creditors

-

72

Accruals

500

850

500

922

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2