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Lotus Electrical Limited

(formerly LOTUS ELECTRICAL AND SHEEP RESCUE LIMITED)

Registered Number
08274274
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2025

Lotus Electrical Limited
Company Information
for the year from 1 April 2024 to 31 March 2025

Director

HUBBARD, Lance

Registered Address

Flat 4 Old Mill Square
Storrington
Pulborough
RH20 4NQ

Registered Number

08274274 (England and Wales)
Lotus Electrical Limited
Statement of Financial Position
31 March 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Intangible assets34,0005,000
Tangible assets491023,035
4,91028,035
Current assets
Debtors5,6240,151216,163
240,151216,163
Creditors amounts falling due within one year7(47,016)(26,492)
Net current assets (liabilities)193,135189,671
Total assets less current liabilities198,045217,706
Creditors amounts falling due after one year8(35,873)(40,052)
Net assets162,172177,654
Capital and reserves
Called up share capital11
Profit and loss account162,171177,653
Shareholders' funds162,172177,654
The financial statements were approved and authorised for issue by the Director on 5 June 2025, and are signed on its behalf by:
HUBBARD, Lance
Director
Registered Company No. 08274274
Lotus Electrical Limited
Notes to the Financial Statements
for the year ended 31 March 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Vehicles18
Office Equipment25
2.Average number of employees

20252024
Average number of employees during the year12
3.Intangible assets

Total

£
Cost or valuation
At 01 April 2410,000
At 31 March 2510,000
Amortisation and impairment
At 01 April 245,000
Charge for year1,000
At 31 March 256,000
Net book value
At 31 March 254,000
At 31 March 245,000
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 2454,224
Disposals(42,664)
At 31 March 2511,560
Depreciation and impairment
At 01 April 2431,189
Charge for year3,306
On disposals(23,845)
At 31 March 2510,650
Net book value
At 31 March 25910
At 31 March 2423,035
5.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables9,6674,284
Other debtors32,03249,779
Prepayments and accrued income53,46264,154
Total95,161118,217
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Debtors: amounts due after one year

2025

2024

££
Other debtors144,99097,946
Total144,99097,946
7.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables8,114-
Bank borrowings and overdrafts19,81310,903
Taxation and social security19,08915,589
Total47,01626,492
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors: amounts due after one year

2025

2024

££
Bank borrowings and overdrafts35,87340,052
Total35,87340,052