General Information
WTF Electrical Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 13396193, registration address Mountbatten House, Grosvenor Square, Southampton, SO15 2JU.
| 1. |
Accounting policies
Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 taxation
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.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Plant and Machinery |
25% Reducing Balance
|
| Motor Vehicles |
25% Reducing Balance
|
Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
Financial instruments
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.
|
| 2. |
Average number of employees
Average number of employees during the year was 2 (2024 : 2).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Motor Vehicles |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 June 2024 |
1,902 |
|
6,750 |
|
8,652 |
| Additions |
1,829 |
|
- |
|
1,829 |
| Disposals |
- |
|
- |
|
- |
| At 31 May 2025 |
3,731 |
|
6,750 |
|
10,481 |
| Depreciation |
| At 01 June 2024 |
195 |
|
703 |
|
898 |
| Charge for year |
645 |
|
1,512 |
|
2,157 |
| On disposals |
- |
|
- |
|
- |
| At 31 May 2025 |
840 |
|
2,215 |
|
3,055 |
| Net book values |
| Closing balance as at 31 May 2025 |
2,891 |
|
4,535 |
|
7,426 |
| Opening balance as at 01 June 2024 |
1,707 |
|
6,047 |
|
7,754 |
|
| 4. |
Stocks
|
2025
£ |
|
2024
£ |
| Stocks |
1,308 |
|
1,919 |
|
1,308 |
|
1,919 |
|
| 5. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
30 |
|
0 |
| Prepayments & Accrued Income |
1,837 |
|
1,145 |
|
1,867 |
|
1,145 |
|
| 6. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
4,233 |
|
3,824 |
| Bank Loans & Overdrafts (Secured) |
2,600 |
|
2,600 |
| Corporation Tax |
3,844 |
|
3,163 |
| Credit Card |
1,786 |
|
0 |
| Directors' Current Accounts |
2,817 |
|
2,190 |
| VAT Control Account |
2,268 |
|
1,864 |
|
17,548 |
|
13,641 |
|
| 7. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Bank Loans & Overdrafts (secured) |
600 |
|
3,200 |
|
600 |
|
3,200 |
|
| 8. |
Provisions for liabilities
|
2025
£ |
|
2024
£ |
| Deferred Tax |
1,411 |
|
1,473 |
|
1,411 |
|
1,473 |
|
| 9. |
Share Capital
Allotted, called up and fully paid
|
2025
£ |
|
2024
£ |
|
100
Ordinary A shares of £1.00 each |
100 |
|
100 |
|
100 |
|
100 |
|
| 10. |
Related parties
During the year the company entered into the following transactions with related parties: | Transaction value - income/(expenses) | | Balance owed by/(owed to) |
|---|
| 2025
£ | | 2024
£ | | 2025
£ | | 2024
£ |
|---|
| Mr Daniel Paul Schurer | 0 | | 0 | | (60) | | (1,545) | | Mrs Jennifer Ann Schurer | 0 | | 0 | | (2,757) | | (645) |
The loan is interest free with no fixed date of repayment. |
| 11. |
Dividend
During the year, total dividends of £6,780 (2024 - £6,050) paid to the directors.
|
| 12. |
Related Party - Mother of director
Within loans and borrowings is a loan repayable in instalments over 64 weeks with no interest being charged. Amounts repayable are as follows:
| Particulars |
|
2025
£ |
|
2024
£ |
| Less then 1 year |
|
2,600 |
|
2,600 |
| More then 1 year |
|
600 |
|
3,200 |
|
|
3,200 |
|
5,800 |
|
3
|