Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Deborah Brown 31/10/2019 Mark Julian Debenham 31/10/2019 Maxwell David Horslen 31/10/2019 Darryn Lummis 01/01/2020 Clive Richard Thornley 31/10/2019 31 January 2025 The principle activity of the company during the financial year was repairs of electrical equipment and other construction installation. 11627021 2024-04-30 11627021 bus:Director1 2024-04-30 11627021 bus:Director2 2024-04-30 11627021 bus:Director3 2024-04-30 11627021 bus:Director4 2024-04-30 11627021 bus:Director5 2024-04-30 11627021 2023-04-30 11627021 core:CurrentFinancialInstruments 2024-04-30 11627021 core:CurrentFinancialInstruments 2023-04-30 11627021 core:Non-currentFinancialInstruments 2024-04-30 11627021 core:Non-currentFinancialInstruments 2023-04-30 11627021 core:ShareCapital 2024-04-30 11627021 core:ShareCapital 2023-04-30 11627021 core:SharePremium 2024-04-30 11627021 core:SharePremium 2023-04-30 11627021 core:RetainedEarningsAccumulatedLosses 2024-04-30 11627021 core:RetainedEarningsAccumulatedLosses 2023-04-30 11627021 core:PlantMachinery 2023-04-30 11627021 core:Vehicles 2023-04-30 11627021 core:OfficeEquipment 2023-04-30 11627021 core:PlantMachinery 2024-04-30 11627021 core:Vehicles 2024-04-30 11627021 core:OfficeEquipment 2024-04-30 11627021 core:CurrentFinancialInstruments 10 2024-04-30 11627021 core:CurrentFinancialInstruments 10 2023-04-30 11627021 bus:OrdinaryShareClass1 2024-04-30 11627021 2023-05-01 2024-04-30 11627021 bus:FilletedAccounts 2023-05-01 2024-04-30 11627021 bus:SmallEntities 2023-05-01 2024-04-30 11627021 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 11627021 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11627021 bus:Director1 2023-05-01 2024-04-30 11627021 bus:Director2 2023-05-01 2024-04-30 11627021 bus:Director3 2023-05-01 2024-04-30 11627021 bus:Director4 2023-05-01 2024-04-30 11627021 bus:Director5 2023-05-01 2024-04-30 11627021 core:PlantMachinery core:BottomRangeValue 2023-05-01 2024-04-30 11627021 core:PlantMachinery core:TopRangeValue 2023-05-01 2024-04-30 11627021 core:Vehicles core:BottomRangeValue 2023-05-01 2024-04-30 11627021 core:Vehicles core:TopRangeValue 2023-05-01 2024-04-30 11627021 core:OfficeEquipment core:BottomRangeValue 2023-05-01 2024-04-30 11627021 core:OfficeEquipment core:TopRangeValue 2023-05-01 2024-04-30 11627021 2022-05-01 2023-04-30 11627021 core:PlantMachinery 2023-05-01 2024-04-30 11627021 core:Vehicles 2023-05-01 2024-04-30 11627021 core:OfficeEquipment 2023-05-01 2024-04-30 11627021 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 11627021 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 11627021 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11627021 (England and Wales)

STYNE ELECTRICAL LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

STYNE ELECTRICAL LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

STYNE ELECTRICAL LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
STYNE ELECTRICAL LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTORS Deborah Brown
Mark Julian Debenham
Maxwell David Horslen
Darryn Lummis
Clive Richard Thornley
SECRETARY Deborah Brown
REGISTERED OFFICE Falcon Hall Finningham Road
Rickinghall
Diss
IP22 1LP
United Kingdom
COMPANY NUMBER 11627021 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
STYNE ELECTRICAL LIMITED

BALANCE SHEET

As at 30 April 2024
STYNE ELECTRICAL LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 0 70,821
0 70,821
Current assets
Stocks 4 54,926 41,909
Debtors
- due within one year 5 167,040 139,823
- due after more than one year 5 0 70,469
Cash at bank and in hand 19,470 38,031
241,436 290,232
Creditors: amounts falling due within one year 6 ( 97,921) ( 169,472)
Net current assets 143,515 120,760
Total assets less current liabilities 143,515 191,581
Creditors: amounts falling due after more than one year 7 0 ( 27,145)
Provision for liabilities 8 0 ( 17,540)
Net assets 143,515 146,896
Capital and reserves
Called-up share capital 9 5 5
Share premium account 20 20
Profit and loss account 143,490 146,871
Total shareholder's funds 143,515 146,896

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.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Styne Electrical Limited (registered number: 11627021) were approved and authorised for issue by the Board of Directors on 31 January 2025. They were signed on its behalf by:

Deborah Brown
Director
STYNE ELECTRICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
STYNE ELECTRICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Styne Electrical Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Falcon Hall Finningham Road, Rickinghall, Diss, IP22 1LP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 3 - 5 years straight line
Vehicles 3 - 4 years straight line
Office equipment 3 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest 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 cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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 cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 9 8

3. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 May 2023 8,481 105,477 2,248 116,206
Revaluations 877 ( 18,975) 452 ( 17,646)
Disposals ( 9,252) ( 78,329) ( 2,480) ( 90,061)
At 30 April 2024 107 8,173 220 8,500
Accumulated depreciation
At 01 May 2023 3,578 40,050 1,757 45,385
Charge for the financial year 501 5,251 118 5,870
Disposals ( 3,934) ( 37,128) ( 1,656) ( 42,718)
At 30 April 2024 107 8,173 220 8,500
Net book value
At 30 April 2024 0 0 0 0
At 30 April 2023 4,903 65,427 491 70,821

4. Stocks

2024 2023
£ £
Stocks 10,634 8,949
Work in progress 44,292 32,960
54,926 41,909

5. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Trade debtors 114,496 131,829
Amounts owed by Group undertakings 41,456 0
Other taxation and social security 140 1,002
Other debtors 10,948 6,992
167,040 139,823
Debtors: amounts falling due after more than one year
Amounts owed by Group undertakings 0 70,469

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 35,479 41,842
Amounts owed to Group undertakings 8,228 29,916
Taxation and social security 40,427 66,976
Obligations under finance leases and hire purchase contracts 0 24,436
Other creditors 13,787 6,302
97,921 169,472

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 0 27,145

Hire purchase liabilities are secured on the assets they relate to.

8. Provision for liabilities

2024 2023
£ £
Deferred tax 0 17,540

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
5 Ordinary shares of £ 1.00 each 5 5

10. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
Balances owed by connected companies 121,312 40,553

11. Ultimate controlling party

Parent Company:

Styne Group Limited