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BRS Electrical Limited
Unaudited financial statements
30 November 2024
Company Registration Number 08794671
BRS Electrical Limited
Financial statements
year ended 30 November 2024
Contents
Pages
Balance sheet
1 to 2
Notes to the financial statements
3 to 5
BRS Electrical Limited
Balance sheet
30 November 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
123,055
118,986
Current assets
Stocks
48,478
64,396
Debtors
6
267,757
469,699
Cash at bank and in hand
251,387
29,518
---------
---------
567,622
563,613
Creditors: amounts falling due within one year
7
246,212
204,097
---------
---------
Net current assets
321,410
359,516
---------
---------
Total assets less current liabilities
444,465
478,502
Provisions
23,311
21,081
---------
---------
Net assets
421,154
457,421
---------
---------
BRS Electrical Limited
Balance sheet (continued)
30 November 2024
2024
2023
Note
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
421,054
457,321
---------
---------
Shareholder funds
421,154
457,421
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 22 August 2025 , and are signed on behalf of the board by:
B R Smith
Director
Company registration number: 08794671
BRS Electrical Limited
Notes to the financial statements
year ended 30 November 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Amelia Court, Retford, Nottinghamshire.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
3.1 Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
3.2 Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
3.3 Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
3.4 Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
3.5 Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Motor vehicles
-
20% straight line
Office equipment
-
20% straight line
3.6 Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
3.7 Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
3.8 Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 19 (2023: 20 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 December 2023
27,234
263,244
49,470
339,948
Additions
51,489
51,489
Disposals
( 15,995)
( 15,995)
--------
---------
--------
---------
At 30 November 2024
27,234
298,738
49,470
375,442
--------
---------
--------
---------
Depreciation
At 1 December 2023
24,200
152,301
44,460
220,961
Charge for the year
1,233
39,250
1,870
42,353
Disposals
( 10,927)
( 10,927)
--------
---------
--------
---------
At 30 November 2024
25,433
180,624
46,330
252,387
--------
---------
--------
---------
Carrying amount
At 30 November 2024
1,801
118,114
3,140
123,055
--------
---------
--------
---------
At 30 November 2023
3,034
110,943
5,010
118,987
--------
---------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
244,781
466,162
Other debtors
22,976
3,537
---------
---------
267,757
469,699
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
67,955
77,777
Corporation tax
76,598
13,739
Social security and other taxes
47,662
50,937
Other creditors
53,997
61,644
---------
---------
246,212
204,097
---------
---------