2023-09-012024-08-312024-08-31false04790747K.S. Electrics (SW) 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K.S. Electrics (SW) Limited

Registered Number
04790747
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

K.S. Electrics (SW) Limited
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

Kelvin Charles Sealey

Company Secretary

Susan Anne Sealey

Registered Address

C/O Derek J Read & Co
107 North Street
Martock
TA12 6EJ

Registered Number

04790747 (England and Wales)
K.S. Electrics (SW) Limited
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets49,02210,261
9,02210,261
Current assets
Stocks200510
Debtors510,4462,696
Cash at bank and on hand6,66511,562
17,31114,768
Creditors amounts falling due within one year6(6,443)(10,562)
Net current assets (liabilities)10,8684,206
Total assets less current liabilities19,89014,467
Provisions for liabilities(1,714)(1,950)
Net assets18,17612,517
Capital and reserves
Called up share capital11
Profit and loss account18,17512,516
Shareholders' funds18,17612,517
The financial statements were approved and authorised for issue by the Director on 3 February 2025, and are signed on its behalf by:
Kelvin Charles Sealey
Director
Registered Company No. 04790747
K.S. Electrics (SW) Limited
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery10-
Fixtures and fittings10-
Vehicles25-
Office Equipment-3
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year23
3.Intangible assets

Total

£
Cost or valuation
At 01 September 2325,000
At 31 August 2425,000
Amortisation and impairment
At 01 September 2325,000
At 31 August 2425,000
Net book value
At 31 August 24-
At 31 August 23-
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 September 2331,288
Additions499
At 31 August 2431,787
Depreciation and impairment
At 01 September 2321,027
Charge for year1,738
At 31 August 2422,765
Net book value
At 31 August 249,022
At 31 August 2310,261
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables8,258891
Other debtors798415
Prepayments and accrued income1,3901,390
Total10,4462,696
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,4281,954
Bank borrowings and overdrafts518703
Amounts owed to related parties354,168
Taxation and social security3,6852,364
Accrued liabilities and deferred income7771,373
Total6,44310,562
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.