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Registered number: 05918862
Hanson Electrical Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 October 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 05918862
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 112,500 150,000
Tangible Assets 5 865,366 803,602
977,866 953,602
CURRENT ASSETS
Stocks 1,075,869 958,586
Debtors 568,528 679,967
Cash at bank and in hand 230,071 332,271
1,874,468 1,970,824
Creditors: Amounts Falling Due Within One Year (443,530 ) (526,548 )
NET CURRENT ASSETS (LIABILITIES) 1,430,938 1,444,276
TOTAL ASSETS LESS CURRENT LIABILITIES 2,408,804 2,397,878
Creditors: Amounts Falling Due After More Than One Year (64,066 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (22,644 ) (18,449 )
NET ASSETS 2,322,094 2,379,429
CAPITAL AND RESERVES
Called up share capital 7 100,000 100,000
Revaluation reserve 8 680,000 680,000
Profit and Loss Account 1,542,094 1,599,429
SHAREHOLDERS' FUNDS 2,322,094 2,379,429
Page 1
Page 2
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 October 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr David Baron
Director
16/06/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Hanson Electrical Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05918862 . The registered office is 228-232 Willerby Road, Hull, East Yorkshire, HU5 5JR.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. 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:
Freehold 1% per annum on cost
Plant & Machinery 15% per annum on written down value
Motor Vehicles 25% per annum on written down value
Fixtures & Fittings 15% per annum on written down value
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 3
Page 4
2.7. Taxation
Income tax expense represents the sum of the tax currently payable.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 25 (2023: 22)
25 22
4. Intangible Assets
Total
£
Cost
As at 1 November 2023 750,000
As at 31 October 2024 750,000
Amortisation
As at 1 November 2023 600,000
Provided during the period 37,500
As at 31 October 2024 637,500
Net Book Value
As at 31 October 2024 112,500
As at 1 November 2023 150,000
5. Tangible Assets
Total
£
Cost
As at 1 November 2023 1,153,019
Additions 121,161
As at 31 October 2024 1,274,180
Depreciation
As at 1 November 2023 349,417
Provided during the period 59,397
As at 31 October 2024 408,814
Net Book Value
As at 31 October 2024 865,366
As at 1 November 2023 803,602
Page 4
Page 5
6. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,737 -
Later than one year and not later than five years 64,066 -
69,803 -
69,803 -
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100,000 100,000
8. Reserves
Revaluation Reserve
£
As at 1 November 2023 680,000
As at 31 October 2024 680,000
Page 5