Registered number
10372002
Sub Electrical Ltd
Unaudited Filleted Accounts
30 September 2024
Sub Electrical Ltd
Registered number: 10372002
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Current assets
Cash at bank and in hand 10,357 5,823
Creditors: amounts falling due within one year 5 (30,817) (27,091)
Net current liabilities (20,460) (21,268)
Total assets less current liabilities (20,460) (21,268)
Creditors: amounts falling due after more than one year 6 (2,317) (3,363)
Net liabilities (22,777) (24,631)
Capital and reserves
Called up share capital 101 101
Profit and loss account (22,878) (24,732)
Shareholders' funds (22,777) (24,631)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
David Richard Morris
Director
Approved by the board on 25 April 2025
Sub Electrical Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
2 Going concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
4 Tangible fixed assets
Motor vehicles
£
Cost
At 1 October 2023 13,489
At 30 September 2024 13,489
Depreciation
At 1 October 2023 13,489
At 30 September 2024 13,489
Net book value
At 30 September 2024 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 1,674 1,460
Other creditors 29,143 25,631
30,817 27,091
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,317 3,363
7 Other information
Sub Electrical Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is:
8 , Bryntywod
Llangyfelach
Swansea
SA5 7LE
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