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Registration number: 03803901

DS Electrical Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

DS Electrical Services Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

DS Electrical Services Limited

(Registration number: 03803901)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

64,307

34,191

Current assets

 

Stocks

6

6,265

8,700

Debtors

7

27,755

35,162

Cash at bank and in hand

 

-

7

 

34,020

43,869

Creditors: Amounts falling due within one year

8

(205,067)

(142,751)

Net current liabilities

 

(171,047)

(98,882)

Total assets less current liabilities

 

(106,740)

(64,691)

Creditors: Amounts falling due after more than one year

8

(64,890)

(56,711)

Net liabilities

 

(171,630)

(121,402)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(171,632)

(121,404)

Shareholders' deficit

 

(171,630)

(121,402)

 

DS Electrical Services Limited

(Registration number: 03803901)
Balance Sheet as at 31 August 2024

For the financial year ending 31 August 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 August 2025
 

.........................................
D R Sweatman
Director

 

DS Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
496 Blandford Road
Hamworthy
Poole
Dorset
BH16 5BN

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

DS Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Going concern

The financial statements have been prepared on a going concern basis. The Directors are confident that they have sufficient funds to provide support to the company to enable it to continue to trade for the forseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of electrical contracting services. Turnover is shown net of value added tax.

Tax

The tax expense for the period comprises.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance basis

Fixtures & fittings

33% straight line basis

Motor vehicles

25% reducing balance basis

Website

33% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

DS Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

 

DS Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2023

20,000

20,000

At 31 August 2024

20,000

20,000

Amortisation

At 1 September 2023

20,000

20,000

At 31 August 2024

20,000

20,000

Carrying amount

At 31 August 2024

-

-

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

9,598

930

56,175

66,703

Additions

-

11,550

36,411

47,961

Disposals

-

-

(21,980)

(21,980)

At 31 August 2024

9,598

12,480

70,606

92,684

Depreciation

At 1 September 2023

9,598

765

22,149

32,512

Charge for the year

-

1,088

10,961

12,049

Eliminated on disposal

-

-

(16,184)

(16,184)

At 31 August 2024

9,598

1,853

16,926

28,377

Carrying amount

At 31 August 2024

-

10,627

53,680

64,307

At 31 August 2023

-

165

34,026

34,191

 

DS Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Stocks

2024
£

2023
£

Work in progress

3,065

5,500

Other inventories

3,200

3,200

6,265

8,700

7

Debtors

Current

2024
£

2023
£

Trade debtors

25,050

33,261

Prepayments

2,705

1,901

 

27,755

35,162

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

22,145

13,435

Trade creditors

 

16,224

13,033

Taxation and social security

 

84,112

94,546

Other creditors

 

82,586

21,737

 

205,067

142,751

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

64,890

56,711

 

DS Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,310

5,190

Bank overdrafts

2,413

4,995

Hire purchase contracts

14,422

3,250

22,145

13,435

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

28,366

33,779

Hire purchase contracts

36,524

22,932

64,890

56,711

10

Related party transactions

Other transactions with the director

D Sweatman had a loan with the company.

At the balance sheet date the amount owed to D Sweatman was £ 22,092 (2023 - £ 9,360).