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Registered number: NI058551
KWM Electrical Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
Alan Hall Accountancy
7 Dunseark Road
Dungannon
Co Tyrone
BT71 7PH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: NI058551
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 27,930 36,879
27,930 36,879
CURRENT ASSETS
Stocks 5 1,000 1,000
Debtors 6 15,046 28,968
Cash at bank and in hand 76,709 65,294
92,755 95,262
Creditors: Amounts Falling Due Within One Year 7 (24,419 ) (23,988 )
NET CURRENT ASSETS (LIABILITIES) 68,336 71,274
TOTAL ASSETS LESS CURRENT LIABILITIES 96,266 108,153
Creditors: Amounts Falling Due After More Than One Year 8 (581 ) (2,906 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (5,100 ) (6,700 )
NET ASSETS 90,585 98,547
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 90,485 98,447
SHAREHOLDERS' FUNDS 90,585 98,547
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Page 2
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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr KENNETH MOFFETT
Director
22/08/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
KWM Electrical Ltd Registered number NI058551 is a limited by shares company incorporated in Northern Ireland. The Registered Office is 27 Kilmachugh Road, Markethill, Co Armagh, BT60 2ET.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 10% straight line
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
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 stocks.
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2024: 3)
3 3
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4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 April 2024 6,036 65,322 71,358
As at 31 March 2025 6,036 65,322 71,358
Depreciation
As at 1 April 2024 4,228 30,251 34,479
Provided during the period 604 8,345 8,949
As at 31 March 2025 4,832 38,596 43,428
Net Book Value
As at 31 March 2025 1,204 26,726 27,930
As at 1 April 2024 1,808 35,071 36,879
5. Stocks
2025 2024
£ £
Materials 1,000 1,000
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 15,046 28,968
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 2,325 2,325
Trade creditors 4,203 5,094
Bank loans and overdrafts 3,295 5,311
Other creditors 4,286 4,370
Taxation and social security 10,310 6,888
24,419 23,988
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 581 2,906
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9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 2,325 2,325
Later than one year and not later than five years 581 2,906
2,906 5,231
2,906 5,231
10. Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances
2025 2024
£ £
Other timing differences 5,100 6,700
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
12. Directors Advances, Credits and Guarantees
Dividends paid to directors
13. Ultimate Controlling Party
The company's ultimate controlling party is Mr K Moffett by virtue of his ownership of 100% of the issued share capital in the company.
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