Registered number
09370379
Grants Electrical Services Ltd
Filleted Accounts
31 December 2024
Grants Electrical Services Ltd
Registered number: 09370379
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 2,143 2,762
Tangible assets 4 468 10,826
2,611 13,588
Current assets
Stocks 500 7,105
Debtors 5 26,040 -
Cash at bank and in hand 4,253 733
30,793 7,838
Creditors: amounts falling due within one year 6 (12,670) (7,663)
Net current assets 18,123 175
Total assets less current liabilities 20,734 13,763
Creditors: amounts falling due after more than one year 7 (20,553) (13,582)
Net assets 181 181
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (819) (819)
Shareholders' funds 181 181
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Martin Grant
Director
Approved by the board on 7 August 2025
Grants Electrical Services Ltd
Notes to the Accounts
for the year ended 31 December 2024
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 25% Straight line basis
Fixtures, fittings, tools and equipment 25% Straight line basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Website
Cost
At 1 January 2024 7,701
Additions 90
At 31 December 2024 7,791
Amortisation
At 1 January 2024 4,939
Provided during the year 709
At 31 December 2024 5,648
Net book value
At 31 December 2024 2,143
At 31 December 2023 2,762
4 Tangible fixed assets
Website Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 1,301 1,655 19,990 22,946
Disposals - - (19,990) (19,990)
At 31 December 2024 1,301 1,655 - 2,956
Depreciation
At 1 January 2024 839 1,285 9,996 12,120
Charge for the year 240 124 - 364
On disposals - - (9,996) (9,996)
At 31 December 2024 1,079 1,409 - 2,488
Net book value
At 31 December 2024 222 246 - 468
At 31 December 2023 462 370 9,994 10,826
5 Debtors 2024 2023
£ £
Trade debtors 96 -
Other debtors 25,944 -
26,040 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,471 2,471
Trade creditors 13 6,061
Director current account - (3,214)
Taxation and social security costs 8,186 2,345
Other creditors 2,000 -
12,670 7,663
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 20,553 13,582
8 Other information
Grants Electrical Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
10 Tredwin Close
Wellington
Somerset
United Kingdom
TA21 8FJ
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