REGISTERED NUMBER: 07563790 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

IWE SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I P Woodhouse

U L Woodhouse

REGISTERED OFFICE:

34 Falsgrave Road

Scarborough

North Yorkshire

YO12 5AT

REGISTERED NUMBER:

07563790 (England and Wales)

ACCOUNTANTS:

Lloyd Dowson Limited

Medina House

2 Station Avenue

Bridlington

East Yorkshire

YO16 4LZ

FIXED ASSETS

Tangible assets

4

256,830

279,043

CURRENT ASSETS

Stocks

5

196,977

239,030

Debtors

6

143,755

175,108

Cash at bank and in hand

197,884

83,942

538,616

498,080

CREDITORS

Amounts falling due within one year

7

332,657

278,803

NET CURRENT ASSETS

205,959

219,277

TOTAL ASSETS LESS CURRENT LIABILITIES

462,789

498,320

CREDITORS

Amounts falling due after more than one year

8

(140,980

)

(183,080

)

PROVISIONS FOR LIABILITIES

(64,207

)

(53,018

)

NET ASSETS

257,602

262,222

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

257,502

262,122

SHAREHOLDERS' FUNDS

257,602

262,222

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 12 September 2025 and were signed on its behalf by:

I P Woodhouse - Director

1.	STATUTORY INFORMATION

IWE Services Limited 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.

Turnover

Turnover is derived from electrical work, and is recognised on supply of services.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

20% on cost

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.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the statement of income and retained earnings over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the statement of income and retained earnings over the period to which they relate.

Pension costs and other post-retirement benefits

The company has implemented auto-enrolment pension in respect of all employees. Contributions are charged to the statement of income and retained earnings in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2024 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

563,144

Additions

48,964

At 31 March 2025

612,108

DEPRECIATION

At 1 April 2024

284,101

Charge for year

71,177

At 31 March 2025

355,278

NET BOOK VALUE

At 31 March 2025

256,830

At 31 March 2024

279,043

The net book value of tangible fixed assets includes £ 155,877 (2024 - £ 198,635 ) in respect of assets held under hire purchase contracts.

5.

STOCKS

31.3.25

31.3.24

£

£

Stocks

94,993

208,136

Work-in-progress

101,984

30,894

196,977

239,030

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

121,969

68,577

Other debtors

21,786

106,531

143,755

175,108

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

5,555

5,555

Hire purchase contracts

60,333

53,205

Trade creditors

47,348

97,564

Taxation and social security

42,249

9,327

Other creditors

177,172

113,152

332,657

278,803

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

23,149

28,704

Hire purchase contracts

117,831

154,376

140,980

183,080

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

929

6,484

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

28,704

34,259

Hire purchase contracts

178,164

207,581

206,868

241,840

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

62

Ordinary A

£1

62

62

38

Ordinary B

£1

38

38

100

100

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

I P Woodhouse and U L Woodhouse

Balance outstanding at start of year

-

68,618

Amounts repaid

-

(68,618

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-