Home Electrical Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05370628

Home Electrical Limited

Filleted Unaudited Financial Statements

31 March 2025

Home Electrical Limited

Financial Statements

Year ended 31 March 2025

Contents	Pages

Statement of financial position	1 to 2

Notes to the financial statements	3 to 5

Home Electrical Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6		3,022	4,335

Current assets

Stocks		600	1,200
Debtors	7	38,571	16,494
Cash at bank and in hand		133,616	115,911
		---------	---------
		172,787	133,605

Creditors: amounts falling due within one year	8	36,403		17,205
		---------		---------
Net current assets			136,384	116,400
			---------	---------
Total assets less current liabilities			139,406	120,735

Provisions

Taxation including deferred tax	574	824
	---------	---------
Net assets	138,832	119,911
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	138,732	119,811
	---------	---------
Shareholders funds	138,832	119,911
	---------	---------

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 statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 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 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 .

Home Electrical Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 6 October 2025 , and are signed on behalf of the board by:

Mr P J O'Donnell
Director

Company registration number: 05370628

Home Electrical Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 71 Longdale Lane, Ravenshead, Nottingham, NG15 9AG.

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

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.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill - The purchased goodwill was written off in full over ten years.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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.

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 equipment	-	25% reducing balance

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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2024: 4 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2024 and 31 March 2025	32,000
	--------
Amortisation
At 1 April 2024 and 31 March 2025	32,000
	--------
Carrying amount
At 31 March 2025	–
	--------
At 31 March 2024	–
	--------

6. Tangible assets

	Plant and equipment	Total
	£	£
Cost
At 1 April 2024	19,642	19,642
Additions	814	814
Disposals	( 9,869)	( 9,869)
	--------	--------
At 31 March 2025	10,587	10,587
	--------	--------
Depreciation
At 1 April 2024	15,307	15,307
Charge for the year	1,007	1,007
Disposals	( 8,749)	( 8,749)
	--------	--------
At 31 March 2025	7,565	7,565
	--------	--------
Carrying amount
At 31 March 2025	3,022	3,022
	--------	--------
At 31 March 2024	4,335	4,335
	--------	--------

7. Debtors

	2025	2024
	£	£
Trade debtors	34,551	12,031
Other debtors	4,020	4,463
	--------	--------
	38,571	16,494
	--------	--------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	4,399	4,762
Social security and other taxes	24,853	6,797
Credit cards	4,225	3,221
Other creditors	2,926	2,425
	--------	--------
	36,403	17,205
	--------	--------