BrightAccountsProduction v1.0.0 v1.0.0 2023-12-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of electrical contractors. 24 April 2025 0 0 06014276 2024-11-30 06014276 2023-11-30 06014276 2022-11-30 06014276 2023-12-01 2024-11-30 06014276 2022-12-01 2023-11-30 06014276 uk-bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 06014276 uk-curr:PoundSterling 2023-12-01 2024-11-30 06014276 uk-bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 06014276 uk-bus:FullAccounts 2023-12-01 2024-11-30 06014276 uk-core:ShareCapital 2024-11-30 06014276 uk-core:ShareCapital 2023-11-30 06014276 uk-core:RetainedEarningsAccumulatedLosses 2024-11-30 06014276 uk-core:RetainedEarningsAccumulatedLosses 2023-11-30 06014276 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-11-30 06014276 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-11-30 06014276 uk-bus:FRS102 2023-12-01 2024-11-30 06014276 uk-core:PlantMachinery 2023-12-01 2024-11-30 06014276 uk-core:FurnitureFittingsToolsEquipment 2023-12-01 2024-11-30 06014276 uk-core:MotorVehicles 2023-12-01 2024-11-30 06014276 uk-core:CurrentFinancialInstruments 2024-11-30 06014276 uk-core:CurrentFinancialInstruments 2023-11-30 06014276 uk-core:WithinOneYear 2024-11-30 06014276 uk-core:WithinOneYear 2023-11-30 06014276 uk-core:OtherMiscellaneousReserve 2023-11-30 06014276 uk-core:OtherMiscellaneousReserve 2023-12-01 2024-11-30 06014276 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-11-30 06014276 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-11-30 06014276 uk-core:OtherDeferredTax 2024-11-30 06014276 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-11-30 06014276 uk-core:OtherMiscellaneousReserve 2024-11-30 06014276 2023-12-01 2024-11-30 06014276 uk-bus:CompanySecretary1 2023-12-01 2024-11-30 06014276 uk-bus:Director1 2023-12-01 2024-11-30 06014276 uk-bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
Company Registration Number: 06014276
 
 
Action It Electrical Limited
 
Unaudited Financial Statements
 
for the financial year ended 30 November 2024



Action It Electrical Limited
Company Registration Number: 06014276
BALANCE SHEET
as at 30 November 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 5 33,924 16,698
───────── ─────────
 
Current Assets
Stocks 6 1,500 1,500
Debtors 7 17,176 12,801
Cash at bank and in hand 49,083 52,606
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67,759 66,907
───────── ─────────
Creditors: amounts falling due within one year 8 (46,758) (46,694)
───────── ─────────
Net Current Assets 21,001 20,213
───────── ─────────
Total Assets less Current Liabilities 54,925 36,911
 
Provisions for liabilities 10 (6,445) (3,172)
───────── ─────────
Net Assets 48,480 33,739
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 48,380 33,639
───────── ─────────
Shareholders' Funds 48,480 33,739
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.
           
For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 24 April 2025
           
           
           
________________________________          
Mr. P A Harrod          
Director          
           



Action It Electrical Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 November 2024

   
1. General Information
 
Action It Electrical Limited is a company limited by shares incorporated in the United Kingdom. 36-38 King Street, King's Lynn, Norfolk, PE30 1ES, England is the registered office and 10 Howard close, Terrington St Clement, King's Lynn, Norfolk, PE34 4JT, England is the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 30 November 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of sales made by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 15% Reducing balance
  Fixtures, fittings and equipment - 20% Reducing balance
  Motor vehicles - 25% Reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
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.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
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.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 3, (2023 - 3).
       
4. Dividends 2024 2023
  £ £
Dividends on equity shares:
 
Ordinary Shares - Interim paid 22,500 22,500
  ═════════ ═════════
 
Dividends totalling £11,250 have been voted since the year end.
           
5. Tangible assets
  Plant and Fixtures, Motor Total
  machinery fittings and vehicles  
    equipment    
  £ £ £ £
Cost or Valuation
At 1 December 2023 4,991 3,268 27,100 35,359
Additions 173 - 36,936 37,109
Disposals (968) - (27,100) (28,068)
  ───────── ───────── ───────── ─────────
At 30 November 2024 4,196 3,268 36,936 44,400
  ───────── ───────── ───────── ─────────
Depreciation
At 1 December 2023 3,161 1,408 14,092 18,661
Charge for the financial year 287 372 6,156 6,815
On disposals (908) - (14,092) (15,000)
  ───────── ───────── ───────── ─────────
At 30 November 2024 2,540 1,780 6,156 10,476
  ───────── ───────── ───────── ─────────
Net book value
At 30 November 2024 1,656 1,488 30,780 33,924
  ═════════ ═════════ ═════════ ═════════
At 30 November 2023 1,830 1,860 13,008 16,698
  ═════════ ═════════ ═════════ ═════════
       
6. Stocks 2024 2023
  £ £
 
Raw materials 1,500 1,500
  ═════════ ═════════
       
7. Debtors 2024 2023
  £ £
 
Trade debtors 16,529 11,041
Other debtors 500 500
Taxation  (Note 9) - 994
Prepayments and accrued income 147 266
  ───────── ─────────
  17,176 12,801
  ═════════ ═════════
       
8. Creditors 2024 2023
Amounts falling due within one year £ £
 
Trade creditors 4,043 5,724
Taxation  (Note 9) 13,865 10,437
Director's current account 25,559 27,428
Other creditors 2,118 1,988
Accruals:
Pension accrual 149 142
Other accruals 1,024 975
  ───────── ─────────
  46,758 46,694
  ═════════ ═════════
       
9. Taxation 2024 2023
  £ £
 
Debtors:
PAYE / NI - 994
  ═════════ ═════════
Creditors:
VAT 7,193 4,937
Corporation tax 5,463 5,500
PAYE / NI 1,209 -
  ───────── ─────────
  13,865 10,437
  ═════════ ═════════
       
10. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total
  allowances  
     
  2024 2023
  £ £
 
At financial year start 3,172 3,658
Charged to profit and loss 3,273 (486)
  ───────── ─────────
At financial year end 6,445 3,172
  ═════════ ═════════
           
11. Related party transactions
 
Dividends amounting to £22,500 were voted to the director, Mr P A Harrod, during the year.
   
12. Controlling interest
 
The company is under the control of Mr P A Harrod, the sole director and shareholder.