Company Registration No. 14832557 (England and Wales)
ELECTRICAL SOLAR INNOVATIONS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
ELECTRICAL SOLAR INNOVATIONS LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
ELECTRICAL SOLAR INNOVATIONS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
Notes
£
£
Fixed assets
Tangible assets
4
32,923
Current assets
Stocks
1,541
Debtors
5
25,506
Cash at bank and in hand
42,212
69,259
Creditors: amounts falling due within one year
6
(50,080)
Net current assets
19,179
Total assets less current liabilities
52,102
Creditors: amounts falling due after more than one year
7
(50,699)
Net assets
1,403
Capital and reserves
Called up share capital
-
0
Profit and loss reserves
1,403
Total equity
1,403

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial period ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 21 February 2025 and are signed on its behalf by:
C Cusworth
Director
Company registration number 14832557 (England and Wales)
ELECTRICAL SOLAR INNOVATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Electrical Solar Innovations Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hemisphere House, 53-56 White House Road, Ipswich, Suffolk, UK, IP1 5PB.

1.1
Reporting period

The financial statements have been prepared for an accounting period not equal to 12 months due to the current period being the first set of financial statements prepared by the company. As such, future periods will not be wholly comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for business support 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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of business support services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
18% straight line
Computers
18% straight line
Motor vehicles
18% straight line
ELECTRICAL SOLAR INNOVATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -

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.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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.

1.8
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 current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

ELECTRICAL SOLAR INNOVATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
Number
Total
9
4
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 27 April 2023
-
0
-
0
-
0
-
0
Additions
4,220
5,813
28,333
38,366
At 30 June 2024
4,220
5,813
28,333
38,366
Depreciation and impairment
At 27 April 2023
-
0
-
0
-
0
-
0
Depreciation charged in the period
189
785
4,469
5,443
At 30 June 2024
189
785
4,469
5,443
Carrying amount
At 30 June 2024
4,031
5,028
23,864
32,923
ELECTRICAL SOLAR INNOVATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 5 -
5
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
25,506
6
Creditors: amounts falling due within one year
2024
£
Trade creditors
25,944
Taxation and social security
22,705
Other creditors
1,431
50,080
7
Creditors: amounts falling due after more than one year
2024
£
Other creditors
50,699
2024-06-302023-04-27false21 February 2025CCH SoftwareCCH Accounts Production 2024.200No description of principal activityA PerrinS WhittleC Cusworthfalsefalse148325572023-04-272024-06-30148325572024-06-3014832557core:PlantMachinery2024-06-3014832557core:ComputerEquipment2024-06-3014832557core:MotorVehicles2024-06-3014832557core:CurrentFinancialInstrumentscore:WithinOneYear2024-06-3014832557core:Non-currentFinancialInstrumentscore:AfterOneYear2024-06-3014832557core:CurrentFinancialInstruments2024-06-3014832557core:ShareCapital2024-06-3014832557core:RetainedEarningsAccumulatedLosses2024-06-3014832557bus:Director32023-04-272024-06-3014832557core:PlantMachinery2023-04-272024-06-3014832557core:ComputerEquipment2023-04-272024-06-3014832557core:MotorVehicles2023-04-272024-06-3014832557core:PlantMachinery2023-04-2614832557core:ComputerEquipment2023-04-2614832557core:MotorVehicles2023-04-26148325572023-04-2614832557core:Non-currentFinancialInstruments2024-06-3014832557bus:PrivateLimitedCompanyLtd2023-04-272024-06-3014832557bus:SmallCompaniesRegimeForAccounts2023-04-272024-06-3014832557bus:FRS1022023-04-272024-06-3014832557bus:AuditExempt-NoAccountantsReport2023-04-272024-06-3014832557bus:Director12023-04-272024-06-3014832557bus:Director22023-04-272024-06-3014832557bus:FullAccounts2023-04-272024-06-30xbrli:purexbrli:sharesiso4217:GBP