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REGISTERED NUMBER: 05041081 (England and Wales)















N S Lowe (Electrical Contractors)
Limited

Unaudited Financial Statements for the Year Ended 31 May 2024






N S Lowe (Electrical Contractors)
Limited (Registered number: 05041081)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


N S Lowe (Electrical Contractors)
Limited

Company Information
for the Year Ended 31 May 2024







Directors: N S Lowe
G M Lowe





Secretary: G M Lowe





Registered office: 4 Hackney Close
Radcliffe
Lancashire
M26 4UG





Registered number: 05041081 (England and Wales)





Accountants: Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY

N S Lowe (Electrical Contractors)
Limited (Registered number: 05041081)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 32,000 36,000
Tangible assets 5 81 108
32,081 36,108

Current assets
Stocks 925 950
Debtors 6 3,997 5,097
4,922 6,047
Creditors
Amounts falling due within one year 7 59,001 58,255
Net current liabilities (54,079 ) (52,208 )
Total assets less current liabilities (21,998 ) (16,100 )

Creditors
Amounts falling due after more than
one year

8

1,934

3,385
Net liabilities (23,932 ) (19,485 )

Capital and reserves
Called up share capital 10 100 100
Retained earnings (24,032 ) (19,585 )
Shareholders' funds (23,932 ) (19,485 )

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.

N S Lowe (Electrical Contractors)
Limited (Registered number: 05041081)

Statement of Financial Position - 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 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 14 February 2025 and were signed on its behalf by:





N S Lowe - Director


N S Lowe (Electrical Contractors)
Limited (Registered number: 05041081)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. Statutory information

N S Lowe (Electrical Contractors) 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.

Turnover
Turnover represents the total invoice value, excluding value added tax, of electrical contracting services provided by the company during the year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance

Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Stocks
Stocks are measured at estimated cost.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.


N S Lowe (Electrical Contractors)
Limited (Registered number: 05041081)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. Accounting policies - continued
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting year . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year.

Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Going concern
The company continues to rely upon the ongoing financial support of its creditors, particularly its bankers and directors to facilitate a continuation of its trading activity. The directors are therefore able to prepare the financial statements on the basis of the going concern concept.

3. Employees and directors

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

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 June 2023
and 31 May 2024 40,000
Amortisation
At 1 June 2023 4,000
Amortisation for year 4,000
At 31 May 2024 8,000
Net book value
At 31 May 2024 32,000
At 31 May 2023 36,000

N S Lowe (Electrical Contractors)
Limited (Registered number: 05041081)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. Tangible fixed assets
Motor
vehicles
£   
Cost
At 1 June 2023
and 31 May 2024 1,800
Depreciation
At 1 June 2023 1,692
Charge for year 27
At 31 May 2024 1,719
Net book value
At 31 May 2024 81
At 31 May 2023 108

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 3,182 4,496
Other debtors 815 601
3,997 5,097

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 8,156 10,170
Trade creditors 4,664 4,167
Taxation and social security - 67
Other creditors 46,181 43,851
59,001 58,255

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 1,934 3,385

N S Lowe (Electrical Contractors)
Limited (Registered number: 05041081)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 3,659

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100