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REGISTERED NUMBER: 07331985 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

KMG ELECTRICAL SERVICES LIMITED

KMG ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 07331985)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


KMG ELECTRICAL SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: K M Gaul





REGISTERED OFFICE: 3rd Floor
21 Perrymount Road
Haywards Heath
West Sussex
RH16 3TP





REGISTERED NUMBER: 07331985 (England and Wales)





ACCOUNTANTS: Galloways Accounting Limited
15 West Street
Brighton
East Sussex
BN1 2RL

KMG ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 07331985)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 74,172 70,948
74,172 70,948

CURRENT ASSETS
Stocks 6 9,250 8,500
Debtors 7 64,952 23,743
Cash at bank - 6,205
74,202 38,448
CREDITORS
Amounts falling due within one year 8 141,343 94,901
NET CURRENT LIABILITIES (67,141 ) (56,453 )
TOTAL ASSETS LESS CURRENT LIABILITIES 7,031 14,495

CREDITORS
Amounts falling due after more than one year 9 (5,333 ) (13,333 )

PROVISIONS FOR LIABILITIES (1,140 ) (725 )
NET ASSETS 558 437

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 458 337
SHAREHOLDERS' FUNDS 558 437

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 director acknowledges his 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 director and authorised for issue on 26 June 2025 and were signed by:





K M Gaul - Director


KMG ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 07331985)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

KMG Electrical Services 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.

Turnover
Turnover represents amounts received for the sale of goods and services, net of VAT.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold - 16.67% on cost
Plant and machinery etc - 25% on reducing balance
Office building - measured on a valuation basis
Computer equipment - 25% on cost
Motor vehicles- 25& on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES

The average number of employees during the year was 3 (2023 - 3 ) .

KMG ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 07331985)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 19,000
AMORTISATION
At 1 October 2023
and 30 September 2024 19,000
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

5. TANGIBLE FIXED ASSETS
Short Office Plant and
leasehold building machinery
£    £    £   
COST
At 1 October 2023 1,556 68,049 22,269
Additions - - 718
At 30 September 2024 1,556 68,049 22,987
DEPRECIATION
At 1 October 2023 1,297 - 20,738
Charge for year 259 - 540
At 30 September 2024 1,556 - 21,278
NET BOOK VALUE
At 30 September 2024 - 68,049 1,709
At 30 September 2023 259 68,049 1,531

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2023 8,923 2,174 102,971
Additions 4,444 - 5,162
At 30 September 2024 13,367 2,174 108,133
DEPRECIATION
At 1 October 2023 8,476 1,512 32,023
Charge for year 970 169 1,938
At 30 September 2024 9,446 1,681 33,961
NET BOOK VALUE
At 30 September 2024 3,921 493 74,172
At 30 September 2023 447 662 70,948

Office buildings were valued at £68,049 by the director as at 30 September 2024.

6. STOCKS
2024 2023
£    £   
Stocks 9,250 8,500

KMG ELECTRICAL SERVICES LIMITED (REGISTERED NUMBER: 07331985)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 64,952 23,743

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 13,761 8,000
Trade creditors 186 1,000
Taxation and social security 121,972 83,288
Other creditors 5,424 2,613
141,343 94,901

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 5,333 13,333

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at the balance sheet date the director owed the company £34,651 (2023 £6,780). The balance is repayable on demand and is accruing interest at the market rate.