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Registered number: 09339691
Hudsons Electrical Solutions Limited
Financial Statements
For The Year Ended 31 December 2024
NJR Accountancy Services Limited
14 Victoria Square
Droitwich Spa
Worcestershire
WR9 8DS
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 09339691
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 60,261 33,945
60,261 33,945
CURRENT ASSETS
Stocks 5 16,055 64,830
Debtors 6 31,772 69,519
Cash at bank and in hand 353,372 112,846
401,199 247,195
Creditors: Amounts Falling Due Within One Year 7 (71,345 ) (47,289 )
NET CURRENT ASSETS (LIABILITIES) 329,854 199,906
TOTAL ASSETS LESS CURRENT LIABILITIES 390,115 233,851
Creditors: Amounts Falling Due After More Than One Year 8 (144,537 ) (30,092 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (15,065 ) -
NET ASSETS 230,513 203,759
CAPITAL AND RESERVES
Called up share capital 9 100 100
Income Statement 230,413 203,659
SHAREHOLDERS' FUNDS 230,513 203,759
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr S Hudson
Director
6th March 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Hudsons Electrical Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09339691 . The registered office is 14 Victoria Square, Droitwich Spa, WR9 8DS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 12,826 65,044 708 6,379 84,957
Additions 1,450 57,300 589 2,158 61,497
Disposals - (35,049 ) - - (35,049 )
As at 31 December 2024 14,276 87,295 1,297 8,537 111,405
...CONTINUED
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Depreciation
As at 1 January 2024 8,819 37,082 389 4,722 51,012
Provided during the period 1,367 21,543 227 954 24,091
Disposals - (23,959 ) - - (23,959 )
As at 31 December 2024 10,186 34,666 616 5,676 51,144
Net Book Value
As at 31 December 2024 4,090 52,629 681 2,861 60,261
As at 1 January 2024 4,007 27,962 319 1,657 33,945
5. Stocks
2024 2023
£ £
Stock 16,055 64,830
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 29,332 4,807
Sales invoice reserve - 57,974
Other debtors 2,440 6,738
31,772 69,519
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 8,956 19,321
Bank loans and overdrafts 35,556 5,556
Other creditors 1,918 1,505
Taxation and social security 24,915 20,907
71,345 47,289
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 144,537 30,092
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Page 6
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr S Hudson 37,500 37,700
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