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COMPANY REGISTRATION NUMBER: 03995313
An-Elec Services Limited
Filleted Unaudited Financial Statements
30 June 2024
An-Elec Services Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
98,409
120,574
Current assets
Stocks
16,904
23,972
Debtors
6
67,041
474,833
Cash at bank and in hand
524,012
1,479,688
-----------
--------------
607,957
1,978,493
Creditors: amounts falling due within one year
7
231,512
1,551,897
-----------
--------------
Net current assets
376,445
426,596
-----------
-----------
Total assets less current liabilities
474,854
547,170
Provisions
Taxation including deferred tax
24,587
30,125
-----------
-----------
Net assets
450,267
517,045
-----------
-----------
Capital and reserves
Called up share capital
101
101
Profit and loss account
450,166
516,944
-----------
-----------
Shareholders funds
450,267
517,045
-----------
-----------
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.
An-Elec Services Limited
Statement of Financial Position (continued)
30 June 2024
For the year ending 30 June 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 21 March 2025 , and are signed on behalf of the board by:
Ross Edwards
Director
Company registration number: 03995313
An-Elec Services Limited
Notes to the Financial Statements
Year ended 30 June 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 Gas Road, Sittingbourne, Kent, ME10 2QB.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Fixtures and fittings
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2023: 15 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 July 2023
34,261
146,993
33,607
214,861
Additions
18,750
1,641
20,391
Disposals
( 47,107)
( 47,107)
----------
-----------
----------
-----------
At 30 June 2024
34,261
118,636
35,248
188,145
----------
-----------
----------
-----------
Depreciation
At 1 July 2023
29,908
41,250
23,128
94,286
Charge for the year
871
31,124
5,740
37,735
Disposals
( 42,285)
( 42,285)
----------
-----------
----------
-----------
At 30 June 2024
30,779
30,089
28,868
89,736
----------
-----------
----------
-----------
Carrying amount
At 30 June 2024
3,482
88,547
6,380
98,409
----------
-----------
----------
-----------
At 30 June 2023
4,353
105,743
10,479
120,575
----------
-----------
----------
-----------
6. Debtors
2024
2023
£
£
Trade debtors
334,133
359,667
Other debtors
( 267,092)
115,166
-----------
-----------
67,041
474,833
-----------
-----------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
16,641
10,365
Trade creditors
59,391
110,607
Corporation tax
75,864
83,602
Social security and other taxes
5,924
23,663
Other creditors
73,692
1,323,660
-----------
--------------
231,512
1,551,897
-----------
--------------
8. Directors' advances, credits and guarantees
No Directors' transactions were undertaken such as are required to be disclosed under Financial Reporting Standard 102.
9. Related party transactions
On 30 June 2023 the company's freehold property and Leasehold Improvements at its office were transferred to the director at market value.
10. Controlling party
The company was under the control of Mr Stuart Andersen, managing director, throughout the period up to 30th June 2023. On that date Mr Andersen sold his entire shareholding. Mr Andersen is now personally interested in 0% of the company's share capital. Since 30th June 2023 100% of the company's share capital has been owned by BR-Elec Services Ltd (UK Co. 14997145) of The Red Lion, The Square, Lenham, Kent, ME17 2PG.