ELECTRAWORKS LIMITED


Director	CROWDY, Mark


Registered Address	51 Denman Drive
	Ashford
	TW15 2AN


Registered Number	12786809 (England and Wales)

Statement of Financial Position
31 August 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		25,263		27,914
			25,263		27,914
Current assets
Stocks		1,500		1,501
Debtors	4	1,252		1,313
Cash at bank and on hand		23,475		12,832
		26,227		15,646
Creditors amounts falling due within one year	5	(23,007)		(12,434)
Net current assets (liabilities)			3,220		3,212
Total assets less current liabilities			28,483		31,126
Creditors amounts falling due after one year	6		(15,857)		(20,093)
Provisions for liabilities			(6,316)		(5,304)
Net assets			6,310		5,729
Capital and reserves
Called up share capital			100		100
Other reserves			(39,100)		(39,450)
Profit and loss account			45,310		45,079
Shareholders' funds			6,310		5,729

The company was entitled to exemption from audit for this reporting period 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 Director acknowledges 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Director on 4 March 2025, and are signed on its behalf by:

CROWDY, Mark
Director
Registered Company No. 12786809

ELECTRAWORKS LIMITED

Notes to the Financial Statements
for the year ended 31 August 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Turnover policy
	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.

	Revenue from rendering of services
	Revenue 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.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	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
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Plant and machinery	25	-
Vehicles	-	5
Office Equipment	25	-

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2024		2023
	Average number of employees during the year	1		1

3.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 September 23	35,442
	Additions	225
	At 31 August 24	35,667
	Depreciation and impairment
	At 01 September 23	7,529
	Charge for year	2,875
	At 31 August 24	10,404
	Net book value
	At 31 August 24	25,263
	At 31 August 23	27,914

4.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	-	342
Other debtors	53	1
Prepayments and accrued income	1,199	970
Total	1,252	1,313

5.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	159	-
Taxation and social security	13,766	6,675
Finance lease and HP contracts	4,236	4,236
Other creditors	4,379	1,056
Accrued liabilities and deferred income	467	467
Total	23,007	12,434


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

6.	Creditors: amounts due after one year

	2024	2023
	£	£
Other creditors	15,857	20,093
Total	15,857	20,093


	Other creditors relate to Finance Lease and/or HP Contracts.

7.	Obligations under finance leases

		2024		2023
		£		£
	Finance lease and HP contracts	15,857		20,093