Company registration number 01647935 (England and Wales)
SHAW'S ELECTRICAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
SHAW'S ELECTRICAL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
SHAW'S ELECTRICAL LIMITED
BALANCE SHEET
AS AT 28 FEBRUARY 2025
28 February 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
472,182
469,480
Investments
4
455,704
385,710
927,886
855,190
Current assets
Stocks
108,500
126,700
Debtors
5
139,148
73,464
Cash at bank and in hand
1,475,332
1,390,435
1,722,980
1,590,599
Creditors: amounts falling due within one year
6
(166,476)
(136,776)
Net current assets
1,556,504
1,453,823
Total assets less current liabilities
2,484,390
2,309,013
Provisions for liabilities
(41,544)
(24,449)
Net assets
2,442,846
2,284,564
Capital and reserves
Called up share capital
7
43,100
43,100
Revaluation reserve
8
108,426
67,255
Capital redemption reserve
4,500
4,500
Profit and loss reserves
2,286,820
2,169,709
Total equity
2,442,846
2,284,564
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
SHAW'S ELECTRICAL LIMITED
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2025
28 February 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 9 June 2025 and are signed on its behalf by:
Mr K A Shaw
Director
Company Registration No. 01647935
SHAW'S ELECTRICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 3 -
1
Accounting policies
Company information
Shaw's Electrical Limited is a private company limited by shares incorporated in England and Wales. The registered office is 349 Purley Way, Croydon, Surrey, CR0 4NW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
50 years
Plant and machinery
25% straight line
Fixtures, fittings & equipment
25% straight line
Motor vehicles
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Fixed asset investments
Investments held are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
SHAW'S ELECTRICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.7
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.8
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.10
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
SHAW'S ELECTRICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 5 -
1.11
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.12
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.13
Retirement benefits
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
9
9
SHAW'S ELECTRICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 6 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 29 February 2024
539,231
249,973
789,204
Additions
23,522
23,522
Disposals
(13,954)
(13,954)
At 28 February 2025
539,231
259,541
798,772
Depreciation and impairment
At 29 February 2024
77,887
241,837
319,724
Depreciation charged in the year
10,785
10,035
20,820
Eliminated in respect of disposals
(13,954)
(13,954)
At 28 February 2025
88,672
237,918
326,590
Carrying amount
At 28 February 2025
450,559
21,623
472,182
At 28 February 2024
461,344
8,136
469,480
4
Fixed asset investments
2025
2024
£
£
Other investments other than loans
455,704
385,710
The company has not designated any financial assets that are not classified as financial assets at fair value through profit or loss.
SHAW'S ELECTRICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
4
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 29 February 2024
385,710
Valuation changes
54,894
At 28 February 2025
440,604
Impairment
At 29 February 2024
-
Impairment losses
(15,100)
At 28 February 2025
(15,100)
Carrying amount
At 28 February 2025
455,704
At 28 February 2024
385,710
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
123,960
49,936
Amounts owed by associated company
11,141
9,924
Other debtors
4,047
13,604
139,148
73,464
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
56,904
51,254
Corporation tax
45,484
49,273
Other taxation and social security
26,294
22,002
Other creditors
37,794
14,247
166,476
136,776
SHAW'S ELECTRICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 8 -
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary B shares of £1 each
21,550
21,550
21,550
21,550
Ordinary C shares of £1 each
21,550
21,550
21,550
21,550
43,100
43,100
43,100
43,100
8
Revaluation reserve
2025
2024
£
£
At the beginning of the year
67,255
84,337
Deferred tax on revaluation of tangible assets
(13,723)
(2,636)
Other movements
54,894
(14,446)
At the end of the year
108,426
67,255
9
Related party transactions
Included in other creditors is an amount of £21,126 (2024: £1,127) due to the directors.
Included in debtors is an amount of £11,141 (2024: £9,924) due from Shaw's Property Investments Limited, a company in which the directors have an interest.