Filleted

Registration number: 10512356

Ling Electrical Ltd

trading as Ling Electrical

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 9

Ling Electrical Ltd

trading as Ling Electrical

Company Information

Directors

Mr W J Ling Miss J L Phillips

Registered office

Unit 12 Main Road Waterston Milford Haven SA73 1DP

Ling Electrical Ltd

trading as Ling Electrical

(Registration number: 10512356)
Balance Sheet as at 30 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	43,819	39,073
Current assets
Debtors	6	84,096	74,539
Cash at bank and in hand		45,614	31,558
		129,710	106,097
Creditors: Amounts falling due within one year	7	(83,314)	(65,418)
Net current assets		46,396	40,679
Total assets less current liabilities		90,215	79,752
Creditors: Amounts falling due after more than one year	7	(45,169)	(62,295)
Net assets		45,046	17,457
Capital and reserves
Called up share capital		2	1
Profit and loss account		45,044	17,456
Total equity		45,046	17,457

For the financial year ending 30 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Ling Electrical Ltd

trading as Ling Electrical

(Registration number: 10512356)
Balance Sheet as at 30 December 2024

Approved and authorised by the Board on 30 September 2025 and signed on its behalf by:
 

......................................... Mr W J Ling Director

Ling Electrical Ltd

trading as Ling Electrical

Notes to the Financial Statements for the Year Ended 30 December 2024

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 12 Main Road
Waterston
Milford Haven
SA73 1DP

These financial statements were authorised for issue by the Board on 30 September 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

Ling Electrical Ltd

trading as Ling Electrical

Notes to the Financial Statements for the Year Ended 30 December 2024

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
Motor Vehicles	20% Reducing Balance
Plant and Equipment	10% Reducing Balance
Office Equipment	10% Reducing Balance

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.

Debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Ling Electrical Ltd

trading as Ling Electrical

Notes to the Financial Statements for the Year Ended 30 December 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 directors) during the year, was 8 (2023 - 9).

4	Profit before tax

Arrived at after charging/(crediting)

	2024 £	2023 £
Depreciation expense	8,613	7,795

Ling Electrical Ltd

trading as Ling Electrical

Notes to the Financial Statements for the Year Ended 30 December 2024

5	Tangible assets

	Plant and machinery £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 31 December 2023	7,707	3,294	47,368	58,369
Additions	2,545	213	10,600	13,358
At 30 December 2024	10,252	3,507	57,968	71,727
Depreciation
At 31 December 2023	1,202	664	17,430	19,296
Charge for the year	756	279	7,577	8,612
At 30 December 2024	1,958	943	25,007	27,908
Carrying amount
At 30 December 2024	8,294	2,564	32,961	43,819
At 30 December 2023	6,505	2,630	29,938	39,073

6

Debtors

	Note	2024 £	2023 £
Trade debtors		24,054	28,634
Amounts owed by group undertakings and undertakings in which the company has a participating interest	10	58,415	45,905
Prepayments		1,627	-
		84,096	74,539

Ling Electrical Ltd

trading as Ling Electrical

Notes to the Financial Statements for the Year Ended 30 December 2024

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Bank loans and overdrafts	9	11,303	4,809
Trade creditors		32,250	27,095
Taxation and social security		17,862	20,363
Corporation tax liability		16,690	7,986
Other creditors		5,209	5,165
		83,314	65,418