Company Registration No. 05598615 (England and Wales)
G James Electrical Limited
Unaudited accounts
for the period from 1 November 2023 to 30 October 2024
G James Electrical Limited
Unaudited accounts
Contents
G James Electrical Limited
Company Information
for the period from 1 November 2023 to 30 October 2024
Company Number
05598615 (England and Wales)
Registered Office
22 Park Grove
Aberdare
CF44 8EL
Accountants
Insight Accountancy
Unit 16, Lamby Way Workshops
Lamby Way
Cardiff
CF3 2EQ
G James Electrical Limited
Statement of financial position
as at 30 October 2024
Tangible assets
6,558
7,921
Cash at bank and in hand
(14,786)
1,911
Creditors: amounts falling due within one year
(7,036)
(34,068)
Net current assets
16,014
23,577
Total assets less current liabilities
22,572
31,498
Creditors: amounts falling due after more than one year
(20,346)
(30,343)
Provisions for liabilities
Deferred tax
(1,640)
(1,505)
Net assets/(liabilities)
586
(350)
Called up share capital
2
2
Profit and loss account
584
(352)
Shareholders' funds
586
(350)
For the period ending 30 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2025 and were signed on its behalf by
C James
Director
Company Registration No. 05598615
G James Electrical Limited
Notes to the Accounts
for the period from 1 November 2023 to 30 October 2024
G James Electrical Limited is a private company, limited by shares, registered in England and Wales, registration number 05598615. The registered office is 22 Park Grove, Aberdare, CF44 8EL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The directors have provided the company with an interest-free loan and have confirmed that they will continue to support the company until such time as its position improves. The directors consider that it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result if the financial support were withdrawn.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
20% straight line
Computer equipment
33% straight line
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
G James Electrical Limited
Notes to the Accounts
for the period from 1 November 2023 to 30 October 2024
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 November 2023
7,251
42,578
1,076
-
50,905
At 30 October 2024
7,251
42,578
1,076
674
51,579
At 1 November 2023
6,965
34,943
1,076
-
42,984
Charge for the period
72
1,909
-
56
2,037
At 30 October 2024
7,037
36,852
1,076
56
45,021
At 30 October 2024
214
5,726
-
618
6,558
At 31 October 2023
286
7,635
-
-
7,921
Amounts falling due within one year
Trade debtors
12,086
30,734
G James Electrical Limited
Notes to the Accounts
for the period from 1 November 2023 to 30 October 2024
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
72,345
63,812
Taxes and social security
1,413
7,187
Loans from directors
(46,421)
(31,119)
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
2,789
2,789
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan
31,119
59,363
44,062
46,420
31,119
59,363
44,062
46,420
9
Transactions with related parties
The directors have provided the company with an interest-free loan, which is repayable on demand. At the balance sheet date the amount due to the directors was £2,476 (2023 - £7,119).
10
Average number of employees
During the period the average number of employees was 6 (2023: 6).