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REGISTERED NUMBER: 04275130 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Steffens Electrical Services Ltd

Steffens Electrical Services Ltd (Registered number: 04275130)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Steffens Electrical Services Ltd

Company Information
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: D M Steffens
L Steffens





SECRETARY: L Steffens





REGISTERED OFFICE: The Stable Yard
25-33 Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN





REGISTERED NUMBER: 04275130 (England and Wales)





ACCOUNTANTS: Connolly Accountants & Business Advisors Ltd
Chartered Certified Accountants
The Stable Yard
25-33 Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN

Steffens Electrical Services Ltd (Registered number: 04275130)

Balance Sheet
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 56,146 43,607

CURRENT ASSETS
Debtors 5 147,826 146,265
Cash at bank 36,290 5,394
184,116 151,659
CREDITORS
Amounts falling due within one year 6 151,690 149,000
NET CURRENT ASSETS 32,426 2,659
TOTAL ASSETS LESS CURRENT
LIABILITIES

88,572

46,266

CREDITORS
Amounts falling due after more than one year 7 (29,484 ) (30,495 )

PROVISIONS FOR LIABILITIES (12,906 ) (8,746 )
NET ASSETS 46,182 7,025

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 46,082 6,925
SHAREHOLDERS' FUNDS 46,182 7,025

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Steffens Electrical Services Ltd (Registered number: 04275130)

Balance Sheet - continued
31 AUGUST 2024


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2025 and were signed on its behalf by:





D M Steffens - Director


Steffens Electrical Services Ltd (Registered number: 04275130)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Steffens Electrical Services Ltd 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant & machinery - at varying rates on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost and 20% on cost

Steffens Electrical Services Ltd (Registered number: 04275130)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from related companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.


Steffens Electrical Services Ltd (Registered number: 04275130)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 AUGUST 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 balance sheet 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 or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

Steffens Electrical Services Ltd (Registered number: 04275130)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 AUGUST 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant & and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 September 2023 8,539 15,838 126,628 151,005
Additions - 1,720 30,696 32,416
Disposals - - (16,860 ) (16,860 )
At 31 August 2024 8,539 17,558 140,464 166,561
DEPRECIATION
At 1 September 2023 6,724 10,302 90,372 107,398
Charge for year 940 1,613 16,990 19,543
Eliminated on disposal - - (16,526 ) (16,526 )
At 31 August 2024 7,664 11,915 90,836 110,415
NET BOOK VALUE
At 31 August 2024 875 5,643 49,628 56,146
At 31 August 2023 1,815 5,536 36,256 43,607

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2023 114,434
Additions 30,696
Disposals (16,860 )
Transfer to ownership (40,634 )
At 31 August 2024 87,636
DEPRECIATION
At 1 September 2023 78,178
Charge for year 16,990
Eliminated on disposal (16,526 )
Transfer to ownership (40,634 )
At 31 August 2024 38,008
NET BOOK VALUE
At 31 August 2024 49,628
At 31 August 2023 36,256

Steffens Electrical Services Ltd (Registered number: 04275130)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 121,183 113,009
Other debtors 26,643 33,256
147,826 146,265

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 10,208 24,103
Hire purchase contracts (see note 9) 8,517 8,526
Trade creditors 65,242 49,878
Taxation and social security 49,394 49,872
Other creditors 18,329 16,621
151,690 149,000

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 9,565 19,773
Hire purchase contracts (see note 9) 19,919 10,722
29,484 30,495

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 14,117
Bank loans 10,208 9,986
10,208 24,103

Amounts falling due between one and two years:
Bank loans - 1-2 years 9,565 19,773

Loan balances outstanding as at the balance sheet date are unsecured and are guaranteed by the UK government.

Steffens Electrical Services Ltd (Registered number: 04275130)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 AUGUST 2024

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 8,517 8,526
Between one and five years 19,919 10,722
28,436 19,248

Non-cancellable operating leases
2024 2023
£    £   
Within one year 1,036 12,437
Between one and five years - 1,036
1,036 13,473

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
D M Steffens
Balance outstanding at start of year 21,547 36,028
Amounts repaid (1,906 ) (14,481 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 19,641 21,547