Registered number
06874668
Gas Electrical Ltd
Filleted Accounts
28 February 2025
Gas Electrical Ltd
Registered number: 06874668
Balance Sheet
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 4,021 5,361
Current assets
Debtors 4 121,119 86,391
Cash at bank and in hand 3,029 14,572
124,148 100,963
Creditors: amounts falling due within one year 5 (25,280) (27,382)
Net current assets 98,868 73,581
Net assets 102,889 78,942
Capital and reserves
Called up share capital 1 1
Profit and loss account 102,888 78,941
Shareholder's funds 102,889 78,942
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S Barrett
Director
Approved by the board on 5 August 2025
Gas Electrical Ltd
Notes to the Accounts
for the year ended 28 February 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery etc 25% Reducing Balance
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 March 2024 30,120
At 28 February 2025 30,120
Depreciation
At 1 March 2024 24,759
Charge for the year 1,340
At 28 February 2025 26,099
Net book value
At 28 February 2025 4,021
At 29 February 2024 5,361
4 Debtors 2025 2024
£ £
Trade debtors 13,859 26,730
Amounts owed by related parties 105,073 58,173
Other debtors 2,187 1,488
121,119 86,391
5 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 1,701 4,852
Taxation and social security costs 12,078 11,029
Other creditors 11,501 11,501
25,280 27,382
6 Related party transactions
The company has a balance outstanding at the year end with the following related party:

Home Corporation Ltd – an entity under common control of the same shareholder.
2025: £105,073 receivable
2024: £58,173 receivable

This balance is unsecured, interest-free and repayable on demand.
No guarantees have been given or received in respect of this balance.

Other than the above, there were no material transactions with related parties during the year.
7 Other information
Gas Electrical Ltd is a private company limited by shares and incorporated in England. Its registered office is:
SHMS House
20 Little Park Farm Road
Fareham
Hampshire
PO15 5TD
Gas Electrical Ltd 06874668 false 2024-03-01 2025-02-28 2025-02-28 VT Final Accounts April 2025 Mr S Barrett No description of principal activity 06874668 2023-03-01 2024-02-29 06874668 core:WithinOneYear 2024-02-29 06874668 core:ShareCapital 2024-02-29 06874668 core:RetainedEarningsAccumulatedLosses 2024-02-29 06874668 2024-03-01 2025-02-28 06874668 bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 06874668 bus:AuditExemptWithAccountantsReport 2024-03-01 2025-02-28 06874668 bus:Director40 2024-03-01 2025-02-28 06874668 1 2024-03-01 2025-02-28 06874668 2 2024-03-01 2025-02-28 06874668 core:Vehicles 2024-03-01 2025-02-28 06874668 countries:England 2024-03-01 2025-02-28 06874668 bus:FRS102 2024-03-01 2025-02-28 06874668 bus:FilletedAccounts 2024-03-01 2025-02-28 06874668 2025-02-28 06874668 core:WithinOneYear 2025-02-28 06874668 core:ShareCapital 2025-02-28 06874668 core:RetainedEarningsAccumulatedLosses 2025-02-28 06874668 core:Vehicles 2025-02-28 06874668 2024-02-29 06874668 core:Vehicles 2024-02-29 iso4217:GBP xbrli:pure