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REGISTERED NUMBER: 05192221 (England and Wales)















Allcott-Wells Electrical Limited

Unaudited Financial Statements for the Year Ended 31 August 2024






Allcott-Wells Electrical Limited (Registered number: 05192221)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Allcott-Wells Electrical Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: Mr P Wells





SECRETARY: Mrs S J Wells





REGISTERED OFFICE: Wilson House
48 Brooklyn Road
Seaford
East Sussex
BN25 2DX





REGISTERED NUMBER: 05192221 (England and Wales)





ACCOUNTANTS: Swindells LLP
Chartered Accountants
Wilson House
48 Brooklyn Road
Seaford
East Sussex
BN25 2DX

Allcott-Wells Electrical Limited (Registered number: 05192221)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,000
Tangible assets 5 9,865 13,496
9,865 14,496

CURRENT ASSETS
Stocks 2,250 2,225
Debtors 6 26,260 17,955
Cash at bank 4,707 47,150
33,217 67,330
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

7

31,545

43,843
NET CURRENT ASSETS 1,672 23,487
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,537

37,983

PROVISIONS FOR LIABILITIES 1,874 3,374
NET ASSETS 9,663 34,609

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 9,661 34,607
SHAREHOLDERS' FUNDS 9,663 34,609

Allcott-Wells Electrical Limited (Registered number: 05192221)

Balance Sheet - continued
31 August 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 April 2025 and were signed by:





Mr P Wells - Director


Allcott-Wells Electrical Limited (Registered number: 05192221)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Allcott-Wells Electrical Limited 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents revenue, net of VAT, from electrical engineering and contracting work. Revenue is recognised when the company obtains, through performance under contract, the right to consideration for those goods and services.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition intangible assets are measured at cost less any accumulated amortization and any accumulated impairment losses.

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 - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.


Allcott-Wells Electrical Limited (Registered number: 05192221)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Pension costs and other post-retirement benefits
The company contributes to a defined contribution pension scheme. Contributions payable to the 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 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 20,000
AMORTISATION
At 1 September 2023 19,000
Charge for year 1,000
At 31 August 2024 20,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 1,000

Allcott-Wells Electrical Limited (Registered number: 05192221)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2023 1,839 36,080 6,807 44,726
Additions - - 1,582 1,582
Disposals (809 ) - (3,980 ) (4,789 )
At 31 August 2024 1,030 36,080 4,409 41,519
DEPRECIATION
At 1 September 2023 1,352 26,812 3,066 31,230
Charge for year 59 2,317 670 3,046
Eliminated on disposal (614 ) - (2,008 ) (2,622 )
At 31 August 2024 797 29,129 1,728 31,654
NET BOOK VALUE
At 31 August 2024 233 6,951 2,681 9,865
At 31 August 2023 487 9,268 3,741 13,496


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 23,236 15,377
Other debtors 3,024 2,578
26,260 17,955

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,490 6,186
Taxation and social security 10,269 15,692
Other creditors 17,786 21,965
31,545 43,843

Allcott-Wells Electrical Limited (Registered number: 05192221)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
2 2

The ordinary A and ordinary B shares rank pari passu.

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £24,000 (2023 - £20,000) were paid to the director .

At the balance sheet date the company owed the director the sum of £13,166 (2023 - £18,652). This loan is unsecured and repayable on demand. During the year, interest charged on this loan amounted to £409 (2023 - £409).