Company Registration No. 03646350 (England and Wales)
B S Entwistle Electrical Contractors Limited
Unaudited accounts
for the year ended 31 August 2024
B S Entwistle Electrical Contractors Limited
Unaudited accounts
Contents
B S Entwistle Electrical Contractors Limited
Company Information
for the year ended 31 August 2024
Company Number
03646350 (England and Wales)
Registered Office
Electric House
5 Howarth Court
Gateway Crescent
Oldham
OL9 9XB
United Kingdom
Accountants
Townley & Co Limited
Warrington Business Centre
67 Bewsey Street
Warrington
WA2 7JQ
B S Entwistle Electrical Contractors Limited
Statement of financial position
as at 31 August 2024
Tangible assets
56,578
247
Debtors
1,145,618
1,319,332
Cash at bank and in hand
393,302
260,676
Creditors: amounts falling due within one year
(729,367)
(782,829)
Net current assets
842,203
802,629
Total assets less current liabilities
898,781
802,876
Creditors: amounts falling due after more than one year
(43,076)
(111,234)
Provisions for liabilities
Net assets
855,705
691,577
Called up share capital
10
10
Profit and loss account
855,695
691,567
Shareholders' funds
855,705
691,577
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 November 2024 and were signed on its behalf by
B J McLoughlin
Director
Company Registration No. 03646350
B S Entwistle Electrical Contractors Limited
Notes to the Accounts
for the year ended 31 August 2024
B S Entwistle Electrical Contractors Limited is a private company, limited by shares, registered in England and Wales, registration number 03646350. The registered office is Electric House, 5 Howarth Court, Gateway Crescent, Oldham, OL9 9XB, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% straight line basis
Fixtures & fittings
20% straight line basis
Computer equipment
33% straight line basis
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
B S Entwistle Electrical Contractors Limited
Notes to the Accounts
for the year ended 31 August 2024
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
At 1 September 2023
279,600
At 1 September 2023
279,600
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2023
700
10,088
13,637
24,425
Additions
54,818
-
2,494
57,312
At 31 August 2024
55,518
10,088
16,131
81,737
At 1 September 2023
572
9,969
13,637
24,178
Charge for the year
128
30
823
981
At 31 August 2024
700
9,999
14,460
25,159
At 31 August 2024
54,818
89
1,671
56,578
At 31 August 2023
128
119
-
247
B S Entwistle Electrical Contractors Limited
Notes to the Accounts
for the year ended 31 August 2024
Amounts falling due within one year
Trade debtors
291,050
294,937
Amounts due from group undertakings etc.
734,241
734,241
Accrued income and prepayments
-
27,942
Other debtors
73,368
201,939
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
68,158
61,576
Trade creditors
448,610
526,483
Taxes and social security
141,079
95,534
Other creditors
30,502
31,554
8
Creditors: amounts falling due after more than one year
2024
2023
9
Average number of employees
During the year the average number of employees was 32 (2023: 30).