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COMPANY REGISTRATION NUMBER: 07429651

True Electrical Services Limited

Filleted Unaudited Financial Statements

30 November 2024

True Electrical Services Limited

Balance Sheet

30 November 2024

| 2024 | 2023
Note | £ | £ | £

Current assets

Debtors | 6 | 117,783 |  | 181,677
Cash at bank and in hand | 60,038 |  | 44,645
| --------- |  | ---------
| 177,821 |  | 226,322

Creditors: amounts falling due within one year | 7 | 149,733 |  | 136,587
| --------- |  | ---------
Net current assets |  | 28,088 | 89,735
|  | -------- | --------
Total assets less current liabilities |  | 28,088 | 89,735

Creditors: amounts falling due after more than one year | 8 |  | 26,357 | 75,255
|  | -------- | --------
Net assets |  | 1,731 | 14,480
|  | -------- | --------

Capital and reserves

Called up share capital |  | 101 | 101
Profit and loss account |  | 1,630 | 14,379
|  | ------- | --------
Shareholders funds |  | 1,731 | 14,480
|  | ------- | --------

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 profit and loss account has not been delivered.
For the year ending 30 November 2024 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 .
These financial statements were approved by the board of directors and authorised for issue on 3 September 2025 , and are signed on behalf of the board by:

Mr S Frosdick |
Director |

Company registration number: 07429651

True Electrical Services Limited

Notes to the Financial Statements

Year ended 30 November 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit A3 Broomsleigh Business Park, Worsley Bridge Road, London, SE26 5BN.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
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:

| Motor vehicles | - | 20% straight line
| Office equipment | - | 25% straight line

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 6 ).
5. Tangible assets

| Equipment | Total
| £ | £
Cost |  |
At 1 December 2023 and 30 November 2024 | 417 | 417
| ---- | ----
Depreciation |  |
At 1 December 2023 and 30 November 2024 | 417 | 417
| ---- | ----
Carrying amount |  |
At 30 November 2024 | – | –
| ---- | ----
At 30 November 2023 | – | –
| ---- | ----

6. Debtors

| 2024 | 2023
| £ | £
Trade debtors | 58,940 | 85,953
Other debtors | 58,843 | 95,724
| --------- | ---------
| 117,783 | 181,677
| --------- | ---------

7. Creditors: amounts falling due within one year

| 2024 | 2023
| £ | £
Bank loans and overdrafts | 48,899 | 44,220
Trade creditors | 61,233 | 80,194
Corporation tax | 22,540 | –
Social security and other taxes | 8,608 | 5
Other creditors | 8,453 | 12,168
| --------- | ---------
| 149,733 | 136,587
| --------- | ---------

8. Creditors: amounts falling due after more than one year

| 2024 | 2023
| £ | £
Bank loans and overdrafts | 26,357 | 75,255
| -------- | --------

9. Financial instruments
The carrying amount for each category of financial instrument is as follows:

| 2024 | 2023
| £ | £

Financial assets measured at fair value through profit or loss

Financial assets measured at fair value through profit or loss | 172,334 | 203,585
| --------- | ---------

Financial liabilities measured at fair value through profit or loss

Financial liabilities measured at fair value through profit or loss | 145,041 | 211,938
| --------- | ---------

10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:

| 2024 | 2023
| £ | £
Not later than 1 year | 14,885 | 16,233
Later than 1 year and not later than 5 years | 26,821 | 12,851
| -------- | --------
| 41,706 | 29,084
| -------- | --------

11. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:

| 2024
|  | Balance brought forward | Advances/ (credits) to the director | Balance outstanding
|  | £ | £ | £
| Mr S Frosdick | 24,498 | 4,117 | 28,615
|  | -------- | ------- | --------

| 2023
|  | Balance brought forward | Advances/ (credits) to the director | Balance outstanding
|  | £ | £ | £
| Mr S Frosdick | ( 528) | 25,026 | 24,498
|  | ---- | -------- | --------