9 false false false false false false false false false false true false false false false true true No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 01426781 2023-06-01 2024-05-31 01426781 2024-05-31 01426781 2023-05-31 01426781 2022-06-01 2023-05-31 01426781 2023-05-31 01426781 2022-05-31 01426781 core:FurnitureFittings 2023-06-01 2024-05-31 01426781 core:MotorVehicles 2023-06-01 2024-05-31 01426781 bus:OrdinaryShareClass2 2023-06-01 2024-05-31 01426781 bus:OrdinaryShareClass3 2023-06-01 2024-05-31 01426781 bus:OrdinaryShareClass4 2023-06-01 2024-05-31 01426781 bus:OrdinaryShareClass5 2023-06-01 2024-05-31 01426781 bus:Director1 2023-06-01 2024-05-31 01426781 core:WithinOneYear 2024-05-31 01426781 core:WithinOneYear 2023-05-31 01426781 core:LandBuildings 2023-05-31 01426781 core:PlantMachinery 2023-05-31 01426781 core:FurnitureFittings 2023-05-31 01426781 core:MotorVehicles 2023-05-31 01426781 core:LandBuildings 2024-05-31 01426781 core:PlantMachinery 2024-05-31 01426781 core:FurnitureFittings 2024-05-31 01426781 core:MotorVehicles 2024-05-31 01426781 core:PlantMachinery 2023-06-01 2024-05-31 01426781 core:AfterOneYear 2024-05-31 01426781 core:AfterOneYear 2023-05-31 01426781 core:ShareCapital 2024-05-31 01426781 core:ShareCapital 2023-05-31 01426781 core:CapitalRedemptionReserve 2024-05-31 01426781 core:CapitalRedemptionReserve 2023-05-31 01426781 core:RetainedEarningsAccumulatedLosses 2024-05-31 01426781 core:RetainedEarningsAccumulatedLosses 2023-05-31 01426781 core:BetweenOneFiveYears 2023-05-31 01426781 core:LandBuildings 2023-05-31 01426781 core:PlantMachinery 2023-05-31 01426781 core:FurnitureFittings 2023-05-31 01426781 core:MotorVehicles 2023-05-31 01426781 bus:SmallEntities 2023-06-01 2024-05-31 01426781 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 01426781 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 01426781 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 01426781 bus:FullAccounts 2023-06-01 2024-05-31 01426781 bus:OrdinaryShareClass2 2024-05-31 01426781 bus:OrdinaryShareClass2 2023-05-31 01426781 bus:OrdinaryShareClass3 2024-05-31 01426781 bus:OrdinaryShareClass3 2023-05-31 01426781 bus:OrdinaryShareClass4 2024-05-31 01426781 bus:OrdinaryShareClass4 2023-05-31 01426781 bus:OrdinaryShareClass5 2024-05-31 01426781 bus:OrdinaryShareClass5 2023-05-31 01426781 bus:AllOrdinaryShares 2024-05-31 01426781 bus:AllOrdinaryShares 2023-05-31
COMPANY REGISTRATION NUMBER: 01426781
Ron Sims (Heating & Electrical Services) Limited
Filleted Unaudited Financial Statements
31 May 2024
Ron Sims (Heating & Electrical Services) Limited
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
39,072
40,494
Current assets
Stocks
23,977
26,460
Debtors
6
55,781
123,854
Cash at bank and in hand
16,853
9,572
--------
---------
96,611
159,886
Creditors: amounts falling due within one year
7
96,668
143,061
--------
---------
Net current (liabilities)/assets
( 57)
16,825
--------
--------
Total assets less current liabilities
39,015
57,319
Creditors: amounts falling due after more than one year
8
6,000
12,000
Provisions
Taxation including deferred tax
1,111
1,448
--------
--------
Net assets
31,904
43,871
--------
--------
Ron Sims (Heating & Electrical Services) Limited
Statement of Financial Position (continued)
31 May 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
9
100
100
Capital redemption reserve
50
50
Profit and loss account
31,754
43,721
--------
--------
Shareholders funds
31,904
43,871
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 22 February 2025 , and are signed on behalf of the board by:
Mr J Sims
Director
Company registration number: 01426781
Ron Sims (Heating & Electrical Services) Limited
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Gregory's Mill Street, Worcester, WR3 8BA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a small entity as defined in FRS102 and section 382 of the Companies Act 2006 and has taken advantage of the disclosure exemptions available under paragraph 1A.7 of FRS102.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & machinery
-
15% reducing balance to 25% straight line
Fixtures & fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
No depreciation has been provided on freehold buildings because the directors are of the opinion that they are maintained to an excellent standard.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 9 (2023: 10 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 June 2023
32,873
42,133
15,793
41,748
132,547
Additions
737
737
--------
--------
--------
--------
---------
At 31 May 2024
32,873
42,870
15,793
41,748
133,284
--------
--------
--------
--------
---------
Depreciation
At 1 June 2023
39,324
14,897
37,832
92,053
Charge for the year
1,045
134
980
2,159
--------
--------
--------
--------
---------
At 31 May 2024
40,369
15,031
38,812
94,212
--------
--------
--------
--------
---------
Carrying amount
At 31 May 2024
32,873
2,501
762
2,936
39,072
--------
--------
--------
--------
---------
At 31 May 2023
32,873
2,809
896
3,916
40,494
--------
--------
--------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
45,861
115,518
Prepayments and accrued income
9,920
8,336
--------
---------
55,781
123,854
--------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
6,000
6,000
Trade creditors
38,975
86,561
Accruals and deferred income
10,310
10,912
Corporation tax
16,597
13,025
Social security and other taxes
15,081
5,553
Director loan accounts
6,975
15,875
Other creditors
2,730
5,135
--------
---------
96,668
143,061
--------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
6,000
12,000
-------
--------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary A shares of £ 1 each
35
35
35
35
Ordinary B shares of £ 1 each
20
20
20
20
Ordinary C shares of £ 1 each
25
25
25
25
Ordinary D shares of £ 1 each
20
20
20
20
----
----
----
----
100
100
100
100
----
----
----
----
The A, B, C and D ordinary shares rank equally, share for share, for voting rights and on a sale or distribution of proceeds in a winding up. No specific dividend rights attach to any of the classes of share, it being at the directors' discretion to vote dividends as they see fit on any particular class.
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
829
4,971
Later than 1 year and not later than 5 years
5,800
----
--------
829
10,771
----
--------