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REGISTERED NUMBER: 04881580 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Oldland Electrical Services Limited

Oldland Electrical Services Limited (Registered number: 04881580)






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


Oldland Electrical Services Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mr J M Darby
Mr K Telling





REGISTERED OFFICE: Unit 15 King Charles House
Cavalier Court, Bumpers Farm
Wiltshire
SN14 6LH





REGISTERED NUMBER: 04881580 (England and Wales)





ACCOUNTANTS: Verinder Powell Associates Ltd
Suite 5 Corum 2
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ

Oldland Electrical Services Limited (Registered number: 04881580)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 269,849 280,139
Investments 5 310 310
Investment property 6 275,000 250,000
545,159 530,449

CURRENT ASSETS
Debtors 7 76,489 474,659
Cash at bank and in hand 425,609 309,750
502,098 784,409
CREDITORS
Amounts falling due within one year 8 319,003 614,030
NET CURRENT ASSETS 183,095 170,379
TOTAL ASSETS LESS CURRENT LIABILITIES 728,254 700,828

CREDITORS
Amounts falling due after more than one
year

9

(147,283

)

(185,574

)

PROVISIONS FOR LIABILITIES (157,686 ) (147,540 )
NET ASSETS 423,285 367,714

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 51,467 32,717
Retained earnings 371,718 334,897
423,285 367,714

Oldland Electrical Services Limited (Registered number: 04881580)

Balance Sheet - continued
31 August 2024


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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2025 and were signed on its behalf by:




Mr J M Darby - Director



Mr K Telling - Director


Oldland Electrical Services Limited (Registered number: 04881580)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Oldland Electrical Services Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

There have been no material departures from the Financial Reporting Standard 102 1A.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Tangible fixed assets
Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold- 20% on cost
Fixtures and fittings- 20% on cost
Motor vehicles- 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Oldland Electrical Services Limited (Registered number: 04881580)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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
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 18 (2023 - 16 ) .

Oldland Electrical Services Limited (Registered number: 04881580)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 September 2023 7,272 41,870 582,952 632,094
Additions - 1,460 89,288 90,748
Disposals - - (135,797 ) (135,797 )
At 31 August 2024 7,272 43,330 536,443 587,045
DEPRECIATION
At 1 September 2023 7,272 34,612 310,071 351,955
Charge for year - 2,338 71,541 73,879
Eliminated on disposal - - (108,638 ) (108,638 )
At 31 August 2024 7,272 36,950 272,974 317,196
NET BOOK VALUE
At 31 August 2024 - 6,380 263,469 269,849
At 31 August 2023 - 7,258 272,881 280,139

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 September 2023
and 31 August 2024 310
NET BOOK VALUE
At 31 August 2024 310
At 31 August 2023 310

Oldland Electrical Services Limited (Registered number: 04881580)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 250,000
Revaluations 25,000
At 31 August 2024 275,000
NET BOOK VALUE
At 31 August 2024 275,000
At 31 August 2023 250,000

The fair value of the investment property has been arrived at by a valuation by the directors at the open market value at 31 August 2024 based on similar properties.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 58,456 392,929
Other debtors 18,033 81,730
76,489 474,659

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 13,889 13,823
Hire purchase contracts 33,489 94,922
Trade creditors 91,267 276,744
Taxation and social security 97,170 105,530
Other creditors 83,188 123,011
319,003 614,030

Oldland Electrical Services Limited (Registered number: 04881580)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans 59,199 72,871
Hire purchase contracts 88,084 112,703
147,283 185,574

Included in bank loans in notes 8 and 9 is a combined balance of £18,095 (2023 - £28,097) which is guaranteed by the government and unsecured.

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Hire purchase contracts 121,573 207,625
Bank loans 54,993 58,597
176,566 266,222

Within the bank loans there consists a secured debt of £54,993 (2023 - £58,597) by a fixed and floating charge over the assets of the company.

Hire purchase contracts are secured against the assets which they relate to.

11. PENSION COMMITMENTS

At the year end contributions of £Nil (2023 - £1,558) to defined contribution pension schemes were outstanding.

12. OFF BALANCE SHEET COMMITMENTS

At 31 August 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £143,998 (2023 - £17,861).

Oldland Electrical Services Limited (Registered number: 04881580)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

13. RELATED PARTY DISCLOSURES

Loans from related parties



Key
management


Total
2024 £ £
At start of period 309 309
Advanced 170,727 170,727
Repaid (171,015 ) (171,015 )
At end of period 21 21


Key
management


Total
2023 £ £
At start of period 949 949
Advanced 243,117 243,117
Repaid (243,757 ) (243,757 )
At end of period 309 309

Loans from key management are interest free and repayable on demand.