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REGISTERED NUMBER: 11074779 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

OEC (ELECTRICAL) LTD

OEC (ELECTRICAL) LTD (REGISTERED NUMBER: 11074779)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


OEC (ELECTRICAL) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: Mrs L J Ellis
Mr M S Ellis





REGISTERED OFFICE: Unit 1 Long Barn
Frogmill Track, Wangfield Lane
Curdridge
Southampton
Hampshire
SO32 2DA





REGISTERED NUMBER: 11074779 (England and Wales)






OEC (ELECTRICAL) LTD (REGISTERED NUMBER: 11074779)

BALANCE SHEET
30 NOVEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 130,407 108,478

CURRENT ASSETS
Stocks 40,000 40,000
Debtors 5 716,304 553,496
Cash at bank 116,602 65,133
872,906 658,629
CREDITORS
Amounts falling due within one year 6 921,508 699,414
NET CURRENT LIABILITIES (48,602 ) (40,785 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

81,805

67,693

CREDITORS
Amounts falling due after more than one
year

7

(90,794

)

(90,300

)

PROVISIONS FOR LIABILITIES (24,777 ) (20,611 )
NET LIABILITIES (33,766 ) (43,218 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (33,768 ) (43,220 )
(33,766 ) (43,218 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2025 and were signed on its behalf by:



Mr M S Ellis - Director


OEC (ELECTRICAL) LTD (REGISTERED NUMBER: 11074779)

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


1. STATUTORY INFORMATION

Oec (Electrical) Ltd 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.

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.

Going Concern

Following a review of their customer base and updates to rates and pricing terms two years ago, the company has seen further improvement in trading levels and profitability. It remains a challenging market and high fuel costs and wage pressures continue to drive a high cost base. The directors are closely monitoring cashflow and are of the view the company has adequate resources to continue in operational existence for the foreseeable future. On this basis the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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.
Plant and machinery - 25% straight line
Fixtures and fittings - 25% straight line
Motor vehicles - 25% straight line
Computer equipment - 33% straight line

All fixed assets are initially recorded at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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

OEC (ELECTRICAL) LTD (REGISTERED NUMBER: 11074779)

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


2. ACCOUNTING POLICIES - continued

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
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2023 83,769 3,848 91,224 6,915 185,756
Additions 8,299 927 46,805 2,042 58,073
Disposals (13,208 ) - - (987 ) (14,195 )
At 30 November 2024 78,860 4,775 138,029 7,970 229,634
DEPRECIATION
At 1 December 2023 62,636 2,299 6,963 5,380 77,278
Charge for year 10,165 1,152 19,974 1,695 32,986
Eliminated on disposal (10,050 ) - - (987 ) (11,037 )
At 30 November 2024 62,751 3,451 26,937 6,088 99,227
NET BOOK VALUE
At 30 November 2024 16,109 1,324 111,092 1,882 130,407
At 30 November 2023 21,133 1,549 84,261 1,535 108,478

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 248,837 160,312
Other debtors 467,467 393,184
716,304 553,496

OEC (ELECTRICAL) LTD (REGISTERED NUMBER: 11074779)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,866 6,953
Hire purchase contracts 20,365 13,976
Trade creditors 7,625 68,562
Taxation and social security 835,837 555,011
Other creditors 50,815 54,912
921,508 699,414

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 30,901 36,920
Hire purchase contracts 59,893 53,380
90,794 90,300

8. OTHER FINANCIAL COMMITMENTS

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £32,715 (2023 - £25,955)

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
Mrs L J Ellis
Balance outstanding at start of year 134,480 105,019
Amounts advanced 27,602 29,461
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 162,082 134,480

Mr M S Ellis
Balance outstanding at start of year 134,480 105,019
Amounts advanced 27,602 29,461
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 162,082 134,480