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Registration number: 12310788

Wilson & Ward Electrical Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Wilson & Ward Electrical Services Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Wilson & Ward Electrical Services Ltd

Company Information

Directors

Mr R Ward

Mr S Wilson

Registered office

Unit 1,
Freemantle Business Centre
152 Millbrook Road East
Southampton
Hampshire
S015 1JR

Accountants

Mandair & Co.
Chartered AccountantsPartnership House
84 Lodge Road
Southampton
Hampshire
SO14 6RG

 

Wilson & Ward Electrical Services Ltd

(Registration number: 12310788)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

30,658.00

38,322.00

Current assets

 

Debtors

5

27,106.00

30,851.00

Cash at bank and in hand

 

11,197.00

12,156.00

 

38,303.00

43,007.00

Creditors: Amounts falling due within one year

6

-40,105.00

-35,411.00

Net current (liabilities)/assets

 

-1,802.00

7,596.00

Total assets less current liabilities

 

28,856.00

45,918.00

Creditors: Amounts falling due after more than one year

6

-13,442.00

-24,845.00

Provisions for liabilities

-5,824.00

-7,281.00

Net assets

 

9,590.00

13,792.00

Capital and reserves

 

Called up share capital

100.00

100.00

Retained earnings

9,490.00

13,692.00

Shareholders' funds

 

9,590.00

13,792.00

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 June 2025 and signed on its behalf by:
 

 

Wilson & Ward Electrical Services Ltd

(Registration number: 12310788)
Balance Sheet as at 31 December 2024

.........................................
Mr R Ward
Director

.........................................
Mr S Wilson
Director

 

Wilson & Ward Electrical Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 1,
Freemantle Business Centre
152 Millbrook Road East
Southampton
Hampshire
S015 1JR
United Kingdom

These financial statements were authorised for issue by the Board on 4 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Wilson & Ward Electrical Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible 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

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Wilson & Ward Electrical Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Wilson & Ward Electrical Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

59,877.00

59,877.00

At 31 December 2024

59,877.00

59,877.00

Depreciation

At 1 January 2024

21,555.00

21,555.00

Charge for the year

7,664.00

7,664.00

At 31 December 2024

29,219.00

29,219.00

Carrying amount

At 31 December 2024

30,658.00

30,658.00

At 31 December 2023

38,322.00

38,322.00

5

Debtors

Current

2024
£

2023
£

Trade debtors

1,698.00

5,000.00

Other debtors

25,408.00

25,851.00

 

27,106.00

30,851.00

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

12,813.00

12,813.00

Trade creditors

 

1,158.00

780.00

Taxation and social security

 

18,774.00

15,108.00

Accruals and deferred income

 

6,460.00

5,810.00

Other creditors

 

900.00

900.00

 

40,105.00

35,411.00

Creditors: amounts falling due after more than one year

 

Wilson & Ward Electrical Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

13,442.00

24,845.00