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Registration number: 07198687

Datel Electrical Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Datel Electrical Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Datel Electrical Limited

(Registration number: 07198687)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

14,943

13,853

Current assets

 

Stocks

5

8,000

12,500

Debtors

6

81,160

162,616

Cash at bank and in hand

 

134,577

105,998

 

223,737

281,114

Creditors: Amounts falling due within one year

7

(64,299)

(67,133)

Net current assets

 

159,438

213,981

Total assets less current liabilities

 

174,381

227,834

Creditors: Amounts falling due after more than one year

7

(28,489)

(34,003)

Provisions for liabilities

(2,839)

(2,833)

Net assets

 

143,053

190,998

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

143,052

190,997

Shareholders' funds

 

143,053

190,998

 

Datel Electrical Limited

(Registration number: 07198687)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 April 2025
 

.........................................
D Wright
Director

 

Datel Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company, registered number 07198687, is a private company limited by share capital, incorporated in England and Wales. The address of the company's registered office is Datel Electrical Ltd, Newton Road, Aller Kingskerswell, Newton Abbot, Devon, TQ12 5AT.

These financial statements were authorised for issue by the director on 21 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis. The director has assessed the company's ability to continue trading for the foreseeable future and has a reasonable expectation that the company has adequate resources to meet its obligations as they fall due. Accordingly, the director considers it appropriate to prepare the financial statements on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

 

Datel Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense represents the sum of the tax currently payable and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

25% Reducing Balance

Plant and Machinery

25% Reducing Balance

Motor Vehicles

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

 

Datel Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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 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.

Trade creditors

Trade creditors with no stated interest rate and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 11 (2023 - 13).

 

Datel Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

1,338

32,596

22,904

56,838

Additions

-

3,573

2,500

6,073

At 31 March 2024

1,338

36,169

25,404

62,911

Depreciation

At 1 April 2023

796

22,550

19,639

42,985

Charge for the year

135

3,407

1,441

4,983

At 31 March 2024

931

25,957

21,080

47,968

Carrying amount

At 31 March 2024

407

10,212

4,324

14,943

At 31 March 2023

542

10,046

3,265

13,853

5

Stocks

2024
£

2023
£

Stocks

8,000

12,500

 

Datel Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

43,835

117,171

Prepayments

7,225

8,115

Other debtors

30,100

37,330

 

81,160

162,616

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

5,514

5,514

Trade creditors

 

12,499

24,891

Taxation and social security

 

26,001

29,026

Accruals and deferred income

 

2,544

4,697

Other creditors

 

17,741

3,005

 

64,299

67,133

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

28,489

34,003


Creditors include bank loans repayable by instalments of £6,433 (2023 - £11,947) due after more than five years.

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       
 

Datel Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

28,489

34,003

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,514

5,514

10

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

14,529

19,420

Later than one year and not later than five years

5,775

11,229

20,304

30,649

The amount of non-cancellable operating lease payments recognised as an expense during the year was £19,945 (2023 - £19,586).

 

Datel Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

11

Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are pensions of £1,075 (2023 - £467). The company operates a defined contribution pension scheme for the employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions are included in other creditors.

12

Related party transactions

Loans to directors

Included within other debtors are the following loans to directors:

2024

Directors
£

Total
£

At start of period

27,714

27,714

Advanced

29,946

29,946

Repaid

(57,660)

(57,660)

At end of period

-

-

2023

Directors
£

Total
£

Advanced

27,892

27,892

Repaid

(178)

(178)

At end of period

27,714

27,714

The above loans are unsecured, repayable on demand and interest is charged at 2.25% (2023: 2%) per annum.