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Registration number: 13429958

The Original Electrical Company Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

The Original Electrical Company Limited

Contents

Company Information

1

Director's Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

The Original Electrical Company Limited

Company Information





 

Director




 

G Lynch

Registered office





 

9 Hangingstone Road
Huddersfield
HD4 7QS

Accountants

D & A Hill
No.18 T8/9 Brooke's Mill
Armitage Bridge
Huddersfield
West Yorkshire
HD4 7NR

 

The Original Electrical Company Limited

Director's Report
for the Year Ended 31 May 2024

The director presents his report and the financial statements for the year ended 31 May 2024.

Director of the company

The director who held office during the year was as follows:

G Lynch

Principal activity

The principal activity of the company is that of electrical installation.

Small companies provision statement

This report has 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.

Approved and authorised by the director on 25 March 2025
 

.........................................
G Lynch
Director

 

The Original Electrical Company Limited

(Registration number: 13429958 )
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

18,924

16,758

Current assets

 

Debtors

5

29,687

3,927

Cash at bank and in hand

 

955

20,258

 

30,642

24,185

Creditors: Amounts falling due within one year

6

(15,547)

(9,619)

Net current assets

 

15,095

14,566

Net assets

 

34,019

31,324

Capital and reserves

 

Called up share capital

7

10

10

Retained earnings

34,009

31,314

Shareholders' funds

 

34,019

31,324

For the financial 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.

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 25 March 2025
 

.........................................
G Lynch
Director

 

The Original Electrical Company Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 May 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:
9 Hangingstone Road
Huddersfield
HD4 7QS

These financial statements were authorised for issue by the director on 25 March 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

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 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 Original Electrical Company Limited

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

The current income 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.

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

Tools and equipment

20% on reducing balance

Motor vehicles

25% on reducing balance

Office equipment

33% on reducing balance

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

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

 

The Original Electrical Company Limited

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

4

Tangible assets

Tools and equipment
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

13,794

249

13,800

27,843

Additions

4,043

4,019

-

8,062

At 31 May 2024

17,837

4,268

13,800

35,905

Depreciation

At 1 June 2023

4,966

82

6,037

11,085

Charge for the year

2,574

1,381

1,941

5,896

At 31 May 2024

7,540

1,463

7,978

16,981

Carrying amount

At 31 May 2024

10,297

2,805

5,822

18,924

At 31 May 2023

8,828

167

7,763

16,758

5

Debtors

Current

2024
£

2023
£

Other debtors

29,687

3,927

 

29,687

3,927

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

279

-

Taxation and social security

 

7,922

8,052

Accruals and deferred income

 

1,220

1,200

Other creditors

 

6,126

367

 

15,547

9,619

 

The Original Electrical Company Limited

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

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

10

10

10

10

         

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank overdrafts

279

-