REGISTERED NUMBER: 01301324 (England and Wales)

Willert Electrical Limited

Unaudited Financial Statements for the Year Ended 30 September 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Directors:

D A Willert

A F Willert

Secretary:

D A Willert

Registered office:

Christ Church Square

Whapload Road

Lowestoft

Suffolk

NR32 1XD

Registered number:

01301324 (England and Wales)

Accountants:

Fairhead Bradford

5 Queen Street

Great Yarmouth

Norfolk

NR30 2QP

Fixed assets

Tangible assets

4

119,071

95,483

Current assets

Stocks

61,390

61,390

Debtors

5

154,975

144,804

Cash at bank and in hand

5,532

2,691

221,897

208,885

Creditors

Amounts falling due within one year

6

141,361

79,636

Net current assets

80,536

129,249

Total assets less current liabilities

199,607

224,732

Creditors

Amounts falling due after more than one year

7

(19,362

)

(6,007

)

Provisions for liabilities

(12,471

)

(8,354

)

Accruals and deferred income

(178,088

)

(182,018

)

Net (liabilities)/assets

(10,314

)

28,353

Capital and reserves

Called up share capital

102

100

Retained earnings

(10,416

)

28,253

(10,314

)

28,353

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 June 2025 and were signed on its behalf by:

D A Willert - Director

1.	Statutory information

Willert Electrical Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of VAT.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 15 (2023 - 15 ) .

4.	Tangible fixed assets

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

Cost

At 1 October 2023

50,869

33,170

49,535

Additions

-

6,140

2,278

Disposals

-

-

-

At 30 September 2024

50,869

39,310

51,813

Depreciation

At 1 October 2023

-

28,875

42,427

Charge for year

-

798

1,398

Eliminated on disposal

-

-

-

At 30 September 2024

-

29,673

43,825

Net book value

At 30 September 2024

50,869

9,637

7,988

At 30 September 2023

50,869

4,295

7,108

Motor

Computer

vehicles

equipment

Totals

£

£

£

Cost

At 1 October 2023

156,809

6,337

296,720

Additions

32,745

-

41,163

Disposals

(54,173

)

-

(54,173

)

At 30 September 2024

135,381

6,337

283,710

Depreciation

At 1 October 2023

125,500

4,435

201,237

Charge for year

13,211

1,267

16,674

Eliminated on disposal

(53,272

)

-

(53,272

)

At 30 September 2024

85,439

5,702

164,639

Net book value

At 30 September 2024

49,942

635

119,071

At 30 September 2023

31,309

1,902

95,483

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:

Motor

vehicles

£

Cost

At 1 October 2023

45,250

Additions

23,995

At 30 September 2024

69,245

Depreciation

At 1 October 2023

28,021

Charge for year

6,318

At 30 September 2024

34,339

Net book value

At 30 September 2024

34,906

At 30 September 2023

17,229

5.

Debtors: amounts falling due within one year

30/9/24

30/9/23

as

restated

£

£

Trade debtors

141,129

128,591

Other debtors

13,846

16,213

154,975

144,804

6.

Creditors: amounts falling due within one year

30/9/24

30/9/23

as

restated

£

£

Bank loans and overdrafts

-

197

Hire purchase contracts and finance leases

10,009

8,901

Trade creditors

42,122

24,400

Taxation and social security

33,435

44,536

Other creditors

55,795

1,602

141,361

79,636

7.

Creditors: amounts falling due after more than one year

30/9/24

30/9/23

as

restated

£

£

Hire purchase contracts and finance leases

19,362

6,007

8.	Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

30/9/24

30/9/23

as

restated

£

£

D A Willert

Balance outstanding at start of year

4,204

120

Amounts advanced

18,595

4,396

Amounts repaid

(25,660

)

(312

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(2,861

)

4,204

A F Willert

Balance outstanding at start of year

3,958

(1,147

)

Amounts advanced

23,239

5,417

Amounts repaid

(54,662

)

(312

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(27,465

)

3,958