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Registered number: 06989318
Kent Electrical Installations Ltd
Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06989318
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 12,846 21,021
12,846 21,021
CURRENT ASSETS
Debtors 5 129,235 72,393
Cash at bank and in hand 122,203 201,699
251,438 274,092
Creditors: Amounts Falling Due Within One Year 6 (164,386 ) (125,963 )
NET CURRENT ASSETS (LIABILITIES) 87,052 148,129
TOTAL ASSETS LESS CURRENT LIABILITIES 99,898 169,150
Creditors: Amounts Falling Due After More Than One Year 7 (12,855 ) (29,268 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,212 ) (5,256 )
NET ASSETS 83,831 134,626
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 83,829 134,624
SHAREHOLDERS' FUNDS 83,831 134,626
Page 1
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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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Charlotte Hartley
Director
28/05/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Kent Electrical Installations Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06989318 . The registered office is 1 Montpelier Avenue, Bexley, DA5 3AP.
The presentation currency of the financial statements is the Pound Sterling (£).
The principal place of business is 1 Montpelier Avenue, Bexley DA5 3AP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on cost
Motor Vehicles 25% on cost
Fixtures & Fittings 20% on cost
Computer Equipment 33% on cost
2.4. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 6)
7 6
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2023 590 28,000 4,240 8,835 41,665
Additions - - - 374 374
As at 31 August 2024 590 28,000 4,240 9,209 42,039
Depreciation
As at 1 September 2023 590 9,917 2,255 7,882 20,644
Provided during the period - 7,000 848 701 8,549
As at 31 August 2024 590 16,917 3,103 8,583 29,193
Net Book Value
As at 31 August 2024 - 11,083 1,137 626 12,846
As at 1 September 2023 - 18,083 1,985 953 21,021
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 102,810 48,889
Other debtors 26,425 23,504
129,235 72,393
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,096 5,096
Trade creditors 46,305 19,787
Bank loans and overdrafts 10,289 10,035
Other creditors 73,104 35,013
Taxation and social security 29,592 56,032
164,386 125,963
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,082 10,206
Bank loans 8,773 19,062
12,855 29,268
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8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,096 5,096
Later than one year and not later than five years 4,082 10,206
9,178 15,302
9,178 15,302
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
10. Other Commitments
Future commitments at the balance sheet date totalled £57,980. Where applicable, the commitments are secured by way of a fixed charge over the assets concerned.
2024 2023
£ £
Later than one year and not later than five years 33,998 57,980
33,998 57,980
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