REGISTERED NUMBER: 08202209 (England and Wales)

OLIVER RUSSELL ELECTRICAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

33,920

43,841

CURRENT ASSETS

Stocks

5

1,500

1,500

Debtors

6

69,011

78,577

Cash at bank

28,327

24,703

98,838

104,780

CREDITORS

Amounts falling due within one year

7

65,468

54,657

NET CURRENT ASSETS

33,370

50,123

TOTAL ASSETS LESS CURRENT LIABILITIES

67,290

93,964

CREDITORS

Amounts falling due after more than one year

8

(20,756

)

(23,955

)

PROVISIONS FOR LIABILITIES

(5,503

)

(7,328

)

NET ASSETS

41,031

62,681

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

41,029

62,679

SHAREHOLDERS' FUNDS

41,031

62,681

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 director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 October 2025 and were signed by:

O J Bradly Russell - Director

1.	STATUTORY INFORMATION

Oliver Russell Electrical Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

08202209

Registered office:

7-8

Portmill Lane

Hitchin

Hertfordshire

SG5 1DJ

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

15,431

92,222

1,505

109,158

Additions

2,033

-

-

2,033

Disposals

-

(5,421

)

-

(5,421

)

At 31 March 2025

17,464

86,801

1,505

105,770

DEPRECIATION

At 1 April 2024

12,820

51,738

759

65,317

Charge for year

1,119

10,006

376

11,501

Eliminated on disposal

-

(4,968

)

-

(4,968

)

At 31 March 2025

13,939

56,776

1,135

71,850

NET BOOK VALUE

At 31 March 2025

3,525

30,025

370

33,920

At 31 March 2024

2,611

40,484

746

43,841

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2024

and 31 March 2025

29,398

DEPRECIATION

At 1 April 2024

6,125

Charge for year

5,818

At 31 March 2025

11,943

NET BOOK VALUE

At 31 March 2025

17,455

At 31 March 2024

23,273

5.

STOCKS

2025

2024

£

£

Stocks

1,500

1,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

12,685

21,693

Other debtors

56,326

56,884

69,011

78,577

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

3,199

3,199

Trade creditors

9,453

15,610

Taxation and social security

17,447

17,756

Other creditors

35,369

18,092

65,468

54,657

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

20,756

23,955

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2025

2024

£

£

O J Bradly Russell

Balance outstanding at start of year

8,981

(232

)

Amounts advanced

22,976

33,213

Amounts repaid

(23,000

)

(24,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8,957

8,981

Dividends of £11,500 were paid to the director during the year (2024: £12,000).

Dividends of £11,500 were paid to a close family member of the director during the year (2024: £12,000).

10.	RELATED PARTY DISCLOSURES

Russell Property Management Limited

A company in which Mr O J Bradly Russell is a director and shareholder.

Rent costs totalling £13,000 (2024: £14,000) were charged from Russell Property Management Ltd during the year.

Amounts due from the related party at the balance sheet date is £46,632 (2024: £46,632).

This loan is unsecured, there is no interest payable and there are no agreed repayment terms.