Sonny Vaughan Electrical Ltd.
Statement of financial position
as at 31 May 2024
Tangible assets
17,932
5,636
Inventories
(60,500)
(7,500)
Cash at bank and in hand
120,840
30,198
Creditors: amounts falling due within one year
(44,179)
(64,948)
Net current assets
65,817
49,474
Total assets less current liabilities
83,749
55,110
Creditors: amounts falling due after more than one year
(16,865)
(2,572)
Profit and loss account
66,884
52,538
Shareholders' funds
66,884
52,538
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 September 2024 and were signed on its behalf by
Sonny Vaughan
Director
Company Registration No. 11340780
Sonny Vaughan Electrical Ltd.
Notes to the Accounts
for the year ended 31 May 2024
Sonny Vaughan Electrical Ltd. is a private company, limited by shares, registered in England and Wales, registration number 11340780. The registered office is 2A George Street, Aberystwyth, Cereidgion, SY23 1QG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 May 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 June 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 June 2023
5,993
8,995
24,736
-
39,724
Additions
-
16,233
-
315
16,548
At 31 May 2024
5,993
25,228
24,736
315
56,272
At 1 June 2023
4,943
4,779
24,366
-
34,088
Charge for the year
189
3,681
67
315
4,252
At 31 May 2024
5,132
8,460
24,433
315
38,340
At 31 May 2024
861
16,768
303
-
17,932
At 31 May 2023
1,050
4,216
370
-
5,636
Sonny Vaughan Electrical Ltd.
Notes to the Accounts
for the year ended 31 May 2024
Amounts falling due within one year
Trade debtors
43,226
77,253
Other debtors
6,430
14,471
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
7,586
54,430
Taxes and social security
8,765
2,018
Proposed dividends
-
2,000
Loans from directors
(712)
-
7
Creditors: amounts falling due after more than one year
2024
2023
Taxes and social security
10,365
2,572
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Average number of employees
During the year the average number of employees was 8 (2023: 5).