REGISTERED NUMBER: 05617495 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SUMMIT ELECTRICAL INSTALLATIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Chand

S Clift

SECRETARY:

S Clift

REGISTERED OFFICE:

14a Croxstalls Close

Bloxwich

Walsall

WS3 2XT

REGISTERED NUMBER:

05617495 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

Black Country House

Rounds Green Road

Oldbury

West Midlands

B69 2DG

FIXED ASSETS

Tangible assets

4

29,579

37,765

CURRENT ASSETS

Debtors

5

621,625

1,398,226

Cash at bank and in hand

388,094

294,425

1,009,719

1,692,651

CREDITORS

Amounts falling due within one year

6

793,339

1,219,713

NET CURRENT ASSETS

216,380

472,938

TOTAL ASSETS LESS CURRENT LIABILITIES

245,959

510,703

PROVISIONS FOR LIABILITIES

6,489

9,691

NET ASSETS

239,470

501,012

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

2,009

13,563

Retained earnings

237,459

487,447

239,470

501,012

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 directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 December 2025 and were signed on its behalf by:

S Chand - Director

1.	STATUTORY INFORMATION

Summit Electrical Installations Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

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

The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is determined on a project-by-project basis by calculating the percentage of realised revenue against projected total revenue. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Short term debtors are measured at transaction price, less any impairment.

Short term creditors are measured at the transaction price.

Going concern

The financial statements have been prepared on a going concern basis. The directors have assessed the company’s ability to continue as a going concern and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

In making this assessment, the directors have considered all available information about the future, covering a period of at least twelve months from the date of approval of the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2024 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

Cost

At 1 April 2024

27,546

25,371

26,501

79,418

Additions

-

2,841

9,898

12,739

Disposals

-

-

(17,500

)

(17,500

)

At 31 March 2025

27,546

28,212

18,899

74,657

Depreciation

At 1 April 2024

20,998

10,133

10,522

41,653

Charge for year

1,636

4,102

5,923

11,661

Eliminated on disposal

-

-

(8,236

)

(8,236

)

At 31 March 2025

22,634

14,235

8,209

45,078

Net book value

At 31 March 2025

4,912

13,977

10,690

29,579

At 31 March 2024

6,548

15,238

15,979

37,765

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

528,543

1,293,810

Amounts owed by connected company

1,052

-

Other debtors

92,030

104,416

621,625

1,398,226

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

92,971

Trade creditors

675,938

807,106

Amounts owed to connected company

-

11,798

Taxation and social security

100,007

194,651

Other creditors

17,394

113,187

793,339

1,219,713

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

36,966

27,870

Between one and five years

55,233

23,412

In more than five years

-

32,139

92,199

83,421

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

-

92,971

The company previously provided security in the form of a fixed and floating charge to HSBC Bank PLC in relation to a bank loan liability. This liability was fully settled during the year, and no amount was outstanding at the year end (2024: £92,971).