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Registered number: 04579183










SURELINE ELECTRICAL MODULES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
SURELINE ELECTRICAL MODULES LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SURELINE ELECTRICAL MODULES LIMITED
FOR THE YEAR ENDED 31 AUGUST 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sureline Electrical Modules Limited for the year ended 31 August 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Sureline Electrical Modules Limited, as a body, in accordance with the terms of our engagement letter dated 22 May 2012Our work has been undertaken solely to prepare for your approval the financial statements of Sureline Electrical Modules Limited and state those matters that we have agreed to state to the Board of directors of Sureline Electrical Modules Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sureline Electrical Modules Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Sureline Electrical Modules Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sureline Electrical Modules Limited. You consider that Sureline Electrical Modules Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Sureline Electrical Modules Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



J & S Accountants Limited
 
Chartered Accountants
  
6 Northlands Road
Southampton
SO15 2LF
9 May 2025
Page 1

 
SURELINE ELECTRICAL MODULES LIMITED
REGISTERED NUMBER: 04579183

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
34,857
41,684

  
34,857
41,684

Current assets
  

Stocks
  
25,000
17,565

Debtors: amounts falling due within one year
 5 
711,214
657,222

Cash at bank and in hand
 6 
695,549
367,431

  
1,431,763
1,042,218

Creditors: amounts falling due within one year
 7 
(260,263)
(90,324)

Net current assets
  
 
 
1,171,500
 
 
951,894

Total assets less current liabilities
  
1,206,357
993,578

  

Net assets
  
1,206,357
993,578


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,206,257
993,478

  
1,206,357
993,578


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 May 2025.


Page 2

 
SURELINE ELECTRICAL MODULES LIMITED
REGISTERED NUMBER: 04579183
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

Mr S Caprai
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
SURELINE ELECTRICAL MODULES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Sureline Electrical Modules Limited is a private company, limited by shares and registered in England.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

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

Page 4

 
SURELINE ELECTRICAL MODULES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Plant & machinery
-
15%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures & fittings
-
15%
reducing balance
Office equipment
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
SURELINE ELECTRICAL MODULES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 7).

Page 6

 
SURELINE ELECTRICAL MODULES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Fixtures & fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 September 2023
43,616
81,866
7,346
19,957
152,785


Additions
-
-
-
1,470
1,470



At 31 August 2024

43,616
81,866
7,346
21,427
154,255



Depreciation


At 1 September 2023
30,243
63,596
3,353
13,909
111,101


Charge for the year on owned assets
2,005
4,568
599
1,125
8,297



At 31 August 2024

32,248
68,164
3,952
15,034
119,398



Net book value



At 31 August 2024
11,368
13,702
3,394
6,393
34,857



At 31 August 2023
13,373
18,270
3,993
6,048
41,684

Page 7

 
SURELINE ELECTRICAL MODULES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Debtors

2024
2023
£
£


Trade debtors
168,604
109,991

Other debtors
536,113
532,118

Prepayments and accrued income
6,497
15,113

711,214
657,222



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
695,549
367,431

695,549
367,431



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
138,095
24,665

Corporation tax
97,637
46,458

Other taxation and social security
10,959
7,129

Other creditors
1,125
861

Accruals and deferred income
12,447
11,211

260,263
90,324



8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £4,311 (2023 - £3,123). Contributions totalling £1,124 (2023 - £862) were payable to the fund at the balance sheet date and are included in creditors.

Page 8

 
SURELINE ELECTRICAL MODULES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

9.


Related party transactions

Mr S Caprai is a director and 100% shareholder of the company. Mr Caprai, together with members of his close family, is interested in 100% of the issued share capital of JSK Financial Investments Ltd. At the balance sheet date, JSK Financial Investments Ltd owed Sureline Electrical Modules Limited £530,000 (2023 - £530,000). No interest has been charged on the outstanding balance.

 
Page 9