IRIS Accounts Production v25.1.0.734 10967201 Board of Directors Board of Directors 1.10.23 30.9.24 30.9.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh109672012023-09-30109672012024-09-30109672012023-10-012024-09-30109672012022-09-30109672012022-10-012023-09-30109672012023-09-3010967201ns15:EnglandWales2023-10-012024-09-3010967201ns14:PoundSterling2023-10-012024-09-3010967201ns10:Director12023-10-012024-09-3010967201ns10:Director22023-10-012024-09-3010967201ns10:PrivateLimitedCompanyLtd2023-10-012024-09-3010967201ns10:SmallEntities2023-10-012024-09-3010967201ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-3010967201ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-3010967201ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-3010967201ns10:AbridgedAccounts2023-10-012024-09-3010967201ns10:RegisteredOffice2023-10-012024-09-3010967201ns5:CurrentFinancialInstruments2024-09-3010967201ns5:CurrentFinancialInstruments2023-09-3010967201ns5:Non-currentFinancialInstruments2024-09-3010967201ns5:Non-currentFinancialInstruments2023-09-3010967201ns5:ShareCapital2024-09-3010967201ns5:ShareCapital2023-09-3010967201ns5:RetainedEarningsAccumulatedLosses2024-09-3010967201ns5:RetainedEarningsAccumulatedLosses2023-09-3010967201ns5:PlantMachinery2023-10-012024-09-3010967201ns5:MotorVehicles2023-10-012024-09-3010967201ns5:ComputerEquipment2023-10-012024-09-3010967201ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2024-09-3010967201ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-09-3010967201ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-3010967201ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-3010967201ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-09-3010967201ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-09-3010967201ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-09-3010967201ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-09-30109672011ns10:Director12023-09-30109672011ns10:Director12022-09-30109672011ns10:Director12023-10-012024-09-30109672011ns10:Director12022-10-012023-09-30109672011ns10:Director12024-09-30109672011ns10:Director12023-09-3010967201ns10:Director222023-09-3010967201ns10:Director222022-09-3010967201ns10:Director222023-10-012024-09-3010967201ns10:Director222022-10-012023-09-3010967201ns10:Director222024-09-3010967201ns10:Director222023-09-30
REGISTERED NUMBER: 10967201 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Volts Electrical Services UK Limited

Volts Electrical Services UK Limited (Registered number: 10967201)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Volts Electrical Services UK Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr N J Baker
Mr R J Powell





REGISTERED OFFICE: 71 - 75 Shelton Street
Covent Garden
London
WC2H 9JQ





REGISTERED NUMBER: 10967201 (England and Wales)





ACCOUNTANTS: Ward Goodman
4 Cedar Park
Cobham Road
Ferndown Industrial Estate
Wimborne
Dorset
BH21 7SF

Volts Electrical Services UK Limited (Registered number: 10967201)

Abridged Statement of Financial Position
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 141,673 69,477

CURRENT ASSETS
Stocks 1,500 1,500
Debtors 5 50,284 91,306
Prepayments and accrued income 1,425 345
Cash at bank and in hand 80,782 150
133,991 93,301
CREDITORS
Amounts falling due within one year 86,788 67,110
NET CURRENT ASSETS 47,203 26,191
TOTAL ASSETS LESS CURRENT
LIABILITIES

188,876

95,668

CREDITORS
Amounts falling due after more than one year 6 (107,063 ) (73,117 )

PROVISIONS FOR LIABILITIES (35,418 ) (17,369 )
NET ASSETS 46,395 5,182

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 46,393 5,180
SHAREHOLDERS' FUNDS 46,395 5,182

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Volts Electrical Services UK Limited (Registered number: 10967201)

Abridged Statement of Financial Position - continued
30 September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 April 2025 and were signed on its behalf by:




Mr N J Baker - Director



Mr R J Powell - Director


Volts Electrical Services UK Limited (Registered number: 10967201)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Volts Electrical Services UK 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Government grants
Grant income is recognized in the profit and loss account for the initial twelve month interest free period of the Bounce Back Loan with an equal and corresponding finance charge recognised in expenses in the profit and loss account.

A similar treatment will apply for any further interest free periods taken up by the company during the
term of the loan. The annual rate of interest on the Bounce Back Loan is calculated according to the chancellor's pledge to fix this at 2.5%. The loan will be subsequently recorded at amortised cost using the annual rate of interest of 2.5%.

This has been adopted on the basis the loan is considered a commercial business loan and therefore 2.5% annual interest is effectively the market rate of interest.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


Volts Electrical Services UK Limited (Registered number: 10967201)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and 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 creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account 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 the profit and loss account on a straight line basis.

Pension costs and other post-retirement benefits
The company operates a money purchase pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial in such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

Volts Electrical Services UK Limited (Registered number: 10967201)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023 98,392
Additions 105,410
At 30 September 2024 203,802
DEPRECIATION
At 1 October 2023 28,915
Charge for year 33,214
At 30 September 2024 62,129
NET BOOK VALUE
At 30 September 2024 141,673
At 30 September 2023 69,477

Motor vehicles under hire purchase contracts at the financial year end had net carrying values totalling £110,546 (2023 - £67,230).

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other debtors 1,210 1,210

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 2,859 7,057

7. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 3,800 3,707

Amounts falling due between one and two years:
Bank loans - 1-2 years 3,896 3,800

Volts Electrical Services UK Limited (Registered number: 10967201)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. LOANS - continued
2024 2023
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 12,291 11,988

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,859 7,057

8. PENSION COMMITMENTS

The company operates a money purchase pension scheme for benefit of 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 of £456 (2023- £211) were due to the fund. These are included within creditors.

9. CAPITAL COMMITMENTS

At 30 September 2024, there were no capital commitments contracted for but not provided for in these financial statements or charges made against company assets.

10. OTHER FINANCIAL COMMITMENTS

At 30 September 2024, the company had an outstanding loan of £22,847 (2023 - £26,552) taken out under the government bounce back loan scheme.

At the financial year end, the company had net obligations under hire purchase contracts totalling £111,176 (2023 - £66,869).

11. OFF-BALANCE SHEET ARRANGEMENTS

There were no off-balance sheet arrangements at the financial year end.

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
Mr N J Baker
Balance outstanding at start of year 9,107 7,043
Amounts advanced 47,863 43,658
Amounts repaid (56,970 ) (41,594 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 9,107

Volts Electrical Services UK Limited (Registered number: 10967201)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr R J Powell
Balance outstanding at start of year 6,419 4,324
Amounts advanced 42,123 43,539
Amounts repaid (48,542 ) (41,444 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 6,419

Loans to directors are unsecured and repayable on demand. Interest was charged on the loans to the directors at a rate of 2.25% per annum and this totalled £164 (2023 - £496) during the financial year. The loan were repaid in full during the financial year.

The loan interest applied in the financial year was divided as £109 (2023 - £308) to Mr N Baker and £55 (2023 - ££188) to Mr R Powell.

Interest is included within 'Other interest received' in the profit and loss account.