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Registration number: 13997319

Sparco Electrical Services Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Sparco Electrical Services Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

Sparco Electrical Services Limited

(Registration number: 13997319)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4,039

5,386

Current assets

 

Debtors

5

40,520

45,924

Cash at bank and in hand

 

2

1,139

 

40,522

47,063

Creditors: Amounts falling due within one year

6

(40,176)

(37,236)

Net current assets

 

346

9,827

Total assets less current liabilities

 

4,385

15,213

Provisions for liabilities

(767)

(1,023)

Net assets

 

3,618

14,190

Capital and reserves

 

Called up share capital

100

100

Retained earnings

3,518

14,090

Shareholders' funds

 

3,618

14,190

 

Sparco Electrical Services Limited

(Registration number: 13997319)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 March 2025
 

.........................................
B Smart
Director

 

Sparco Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 7-9 Macon Court
Herald Drive
Crewe
CW1 6EA
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Sparco Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

Reducing Balance (25%)

Office Equipment

Reducing Balance (25%)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

 

Sparco Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

1,481

5,700

7,181

At 31 March 2024

1,481

5,700

7,181

Depreciation

At 1 April 2023

370

1,425

1,795

Charge for the year

278

1,069

1,347

At 31 March 2024

648

2,494

3,142

Carrying amount

At 31 March 2024

833

3,206

4,039

At 31 March 2023

1,111

4,275

5,386

5

Debtors

Current

2024
£

2023
£

Trade debtors

6,497

12,564

Prepayments

959

243

Other debtors

33,064

33,117

 

40,520

45,924

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

74

Taxation and social security

11,304

11,325

Accruals and deferred income

450

134

Other creditors

28,422

25,703

40,176

37,236