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Registered number: 07853146
Kays Electrical Services Ltd
Financial Statements
For The Year Ended 30 November 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—7
Page 1
Statement of Financial Position
Registered number: 07853146
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 44,074 44,852
44,074 44,852
CURRENT ASSETS
Stocks 5 6,518 6,841
Debtors 6 68,969 51,578
Cash at bank and in hand 34,089 2
109,576 58,421
Creditors: Amounts Falling Due Within One Year 7 (81,230 ) (53,684 )
NET CURRENT ASSETS (LIABILITIES) 28,346 4,737
TOTAL ASSETS LESS CURRENT LIABILITIES 72,420 49,589
Creditors: Amounts Falling Due After More Than One Year 8 (11,342 ) (21,099 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,763 ) (1,957 )
NET ASSETS 59,315 26,533
CAPITAL AND RESERVES
Called up share capital 10 101 101
Income Statement 59,214 26,432
SHAREHOLDERS' FUNDS 59,315 26,533
Page 1
Page 2
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 R Kay
Director
26th 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
Kays Electrical Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07853146 . The registered office is 11 Jubilee Terrace Shaw Lane, Stoke Prior, Bromsgrove, B60 4EN.
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:
Leasehold not provided
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
Page 3
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2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.5. 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.
2.6. 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: 3 (2023: 3)
3 3
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Page 5
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 December 2023 37,023 257 21,000 1,581
Additions - - - -
As at 30 November 2024 37,023 257 21,000 1,581
Depreciation
As at 1 December 2023 - 196 14,356 1,348
Provided during the period - 15 1,661 58
As at 30 November 2024 - 211 16,017 1,406
Net Book Value
As at 30 November 2024 37,023 46 4,983 175
As at 1 December 2023 37,023 61 6,644 233
Computer Equipment Total
£ £
Cost
As at 1 December 2023 2,523 62,384
Additions 1,572 1,572
As at 30 November 2024 4,095 63,956
Depreciation
As at 1 December 2023 1,632 17,532
Provided during the period 616 2,350
As at 30 November 2024 2,248 19,882
Net Book Value
As at 30 November 2024 1,847 44,074
As at 1 December 2023 891 44,852
5. Stocks
2024 2023
£ £
Stock 6,518 6,841
Page 5
Page 6
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 58,867 39,508
Other debtors 10,102 12,070
68,969 51,578
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,500 4,200
Trade creditors 25,761 6,290
Bank loans and overdrafts 8,000 9,375
Other creditors 20,700 18,721
Taxation and social security 23,269 15,098
81,230 53,684
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 3,500
Bank loans 11,342 17,599
11,342 21,099
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,500 4,200
Later than one year and not later than five years - 3,500
3,500 7,700
3,500 7,700
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 101 101
11. Directors Advances, Credits and Guarantees
Page 6
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Dividends paid to directors
2024 2023
£ £
Mr R Kay 8,500 11,000
Mr P Kay 31,500 30,000
Page 7