Registered number
08082360
NW7 Electrical Services Ltd
Filleted Accounts
31 May 2024
NW7 Electrical Services Ltd
Registered number: 08082360
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 8,893 14,480
Cash at bank and in hand 3 214
8,896 14,694
Creditors: amounts falling due within one year 4 (1,790) (1,392)
Net current assets 7,106 13,302
Total assets less current liabilities 7,106 13,302
Creditors: amounts falling due after more than one year 5 (6,815) (10,095)
Net assets 291 3,207
Capital and reserves
Called up share capital 1 1
Profit and loss account 290 3,206
Shareholder's funds 291 3,207
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Stephen Patten
Director
Approved by the board on 4 February 2025
NW7 Electrical Services Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2024 2023
£ £
Trade debtors - 1,955
Other debtors 8,893 12,525
8,893 14,480
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 235 -
Trade creditors - 210
Corporation tax 1,555 1,182
1,790 1,392
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,815 10,095
6 Related party transactions
Other debtors at the year end include an amount of £8,983 due from the director Mr Stephen Patten, It is the intention of the director to repay this amount within nine month of the year end.
7 Controlling party
The ultimate controlling party is Mr Stephen Patten by virtue of him holding 100% of shares in
the company.
8 Other information
NW7 Electrical Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
317 Horn Lane
London W3 0BU
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