Company Registration No. 14558918 (England and Wales)
Able Electrical Solutions Ltd
Unaudited accounts
for the year ended 31 December 2024
Able Electrical Solutions Ltd
Unaudited accounts
Contents
Able Electrical Solutions Ltd
Company Information
for the year ended 31 December 2024
Directors
Jasmine Spear
Perry Speer
Company Number
14558918 (England and Wales)
Registered Office
2 Ribbon Pond Drive
Newark-On-Trent
NG24 3WW
United Kingdom
Accountants
Peter Harvey T/A Saviour Accounting
5 Spring Drive
Fernwood, Newark
Nottinghamshire
NG24 3JS
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Able Electrical Solutions Ltd
for the year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Able Electrical Solutions Ltd for the year ended 31 December 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
This report is made solely to the Board of Directors of Able Electrical Solutions Ltd, as a body, in accordance with the terms of our engagement letter dated 17 June 2024. Our work has been undertaken solely to prepare for your approval the accounts of Able Electrical Solutions Ltd and state those matters that we have agreed to state to the Board of Directors of Able Electrical Solutions Ltd, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Able Electrical Solutions Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Able Electrical Solutions Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Able Electrical Solutions Ltd. You consider that Able Electrical Solutions Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Able Electrical Solutions Ltd. 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 accounts.
Peter Harvey T/A Saviour Accounting
Member in Practice
5 Spring Drive
Fernwood, Newark
Nottinghamshire
NG24 3JS
29 May 2025
Able Electrical Solutions Ltd
Statement of financial position
as at 31 December 2024
Tangible assets
5,205
7,704
Investment property
77,069
-
Cash at bank and in hand
30,789
13,546
Creditors: amounts falling due within one year
(14,855)
(10,660)
Net current assets
19,592
5,245
Total assets less current liabilities
101,866
12,949
Creditors: amounts falling due after more than one year
(100,874)
(6,488)
Provisions for liabilities
Called up share capital
2
2
Profit and loss account
-
4,995
Shareholders' funds
2
4,997
For the year ending 31 December 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 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 of Directors and authorised for issue on 29 May 2025 and were signed on its behalf by
Jasmine Spear
Director
Company Registration No. 14558918
Able Electrical Solutions Ltd
Notes to the Accounts
for the year ended 31 December 2024
Able Electrical Solutions Ltd is a private company, limited by shares, registered in England and Wales, registration number 14558918. The registered office is 2 Ribbon Pond Drive, Newark-On-Trent, NG24 3WW, 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.
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.
The accounts are presented in £ sterling.
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
25% per annum on a straight line basis
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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.
Able Electrical Solutions Ltd
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Motor vehicles
At 31 December 2024
77,069
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
5,717
4,999
8
Creditors: amounts falling due after more than one year
2024
2023
Loans from directors
874
6,488
Able Electrical Solutions Ltd
Notes to the Accounts
for the year ended 31 December 2024
9
Deferred taxation
2024
2023
Accelerated capital allowances
990
1,464
Provision at start of year
1,464
-
(Credited)/charged to the profit and loss account
(474)
1,464
Provision at end of year
990
1,464
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).