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REGISTERED NUMBER: 07189221 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

VICTOR HOUSE ELECTRICAL LTD

VICTOR HOUSE ELECTRICAL LTD (REGISTERED NUMBER: 07189221)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VICTOR HOUSE ELECTRICAL LTD

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTOR: Mr M J Simm





REGISTERED OFFICE: Unit 4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE





REGISTERED NUMBER: 07189221 (England and Wales)





ACCOUNTANTS: Kings Chartered Accountants
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

VICTOR HOUSE ELECTRICAL LTD (REGISTERED NUMBER: 07189221)

BALANCE SHEET
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 86,768 52,361

CURRENT ASSETS
Stocks 5 - 260,000
Debtors 6 333,842 442,136
333,842 702,136
CREDITORS
Amounts falling due within one year 7 442,664 572,021
NET CURRENT (LIABILITIES)/ASSETS (108,822 ) 130,115
TOTAL ASSETS LESS CURRENT
LIABILITIES

(22,054

)

182,476

CREDITORS
Amounts falling due after more than one
year

8

(127,967

)

(121,704

)

PROVISIONS FOR LIABILITIES 9 (13,648 ) (6,929 )
NET (LIABILITIES)/ASSETS (163,669 ) 53,843

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings (163,670 ) 53,842
SHAREHOLDERS' FUNDS (163,669 ) 53,843

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

VICTOR HOUSE ELECTRICAL LTD (REGISTERED NUMBER: 07189221)

BALANCE SHEET - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 March 2025 and were signed by:





Mr M J Simm - Director


VICTOR HOUSE ELECTRICAL LTD (REGISTERED NUMBER: 07189221)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Victor House Electrical Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The accounts have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent on sufficient and continuing financial support being made available by the company's director, the shareholders and the creditors. If the company were unable to continue to trade adjustments would have to be made to reduce the value of assets to their realisable amount, to reclassify fixed assets as current assets, long-term liabilities as current liabilities, and to provide for any further liabilities that may arise.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes derived from ordinary activities. Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the service.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

VICTOR HOUSE ELECTRICAL LTD (REGISTERED NUMBER: 07189221)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets,are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

VICTOR HOUSE ELECTRICAL LTD (REGISTERED NUMBER: 07189221)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 51,980 1,708 50,219 18,522 122,429
Additions 58,499 - - - 58,499
At 31 March 2024 110,479 1,708 50,219 18,522 180,928
DEPRECIATION
At 1 April 2023 9,746 1,239 41,602 17,481 70,068
Charge for year 15,434 197 7,567 894 24,092
At 31 March 2024 25,180 1,436 49,169 18,375 94,160
NET BOOK VALUE
At 31 March 2024 85,299 272 1,050 147 86,768
At 31 March 2023 42,234 469 8,617 1,041 52,361

5. STOCKS
31.3.24 31.3.23
£    £   
Work-in-progress - 260,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 185,414 242,283
Other debtors 34,416 52,460
Directors' current accounts 44,548 82,545
Tax 26,763 26,763
Value added tax 42,701 38,085
333,842 442,136

VICTOR HOUSE ELECTRICAL LTD (REGISTERED NUMBER: 07189221)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 72,132 31,462
Other loans 5,500 -
Hire purchase contracts 24,216 16,349
Trade creditors 198,628 304,048
Taxation 58,899 77,766
Other creditors 80,539 140,393
Accruals 2,750 2,003
442,664 572,021

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 30,000 30,000
Bank loans - 2-5 years 32,500 62,500
Hire purchase contracts 65,467 29,204
127,967 121,704

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax
Accelerated capital allowances 13,648 6,929

Deferred
tax
£   
Balance at 1 April 2023 6,929
Provided during year 6,719
Balance at 31 March 2024 13,648

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1 Ordinary £1 1 1

VICTOR HOUSE ELECTRICAL LTD (REGISTERED NUMBER: 07189221)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr M J Simm
Balance outstanding at start of year 82,545 82,349
Amounts advanced 44,548 82,545
Amounts repaid (82,545 ) (82,349 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 44,548 82,545