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Registered number: 07691153
Storm Electrics Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
ANA & Sons Ltd t/a Accounts Navigator
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07691153
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 258,153 245,586
258,153 245,586
CURRENT ASSETS
Debtors 5 193,125 113,495
Cash at bank and in hand 78,461 9,264
271,586 122,759
Creditors: Amounts Falling Due Within One Year 6 (16,352 ) (32,114 )
NET CURRENT ASSETS (LIABILITIES) 255,234 90,645
TOTAL ASSETS LESS CURRENT LIABILITIES 513,387 336,231
Creditors: Amounts Falling Due After More Than One Year 7 (225,349 ) (259,802 )
NET ASSETS 288,038 76,429
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 287,938 76,329
SHAREHOLDERS' FUNDS 288,038 76,429
Page 1
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 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.
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 Paul Goodhew
Director
16/12/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Storm Electrics Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07691153 . The registered office is 10 Powells road, Shefford, SG17 5PD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Leasehold to be depreciated over 23 years
Plant & Machinery to be depreciated over 3 years
Motor Vehicles to be depreciated over 3 years
Fixtures & Fittings to be depreciated over 5 years
Computer Equipment to be depreciated over 2 years
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 3)
4 3
4. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2024 242,733 97,351 1,031 6,829 347,944
Additions - 15,994 - 3,497 19,491
As at 31 March 2025 242,733 113,345 1,031 10,326 367,435
Depreciation
As at 1 April 2024 - 97,351 473 4,534 102,358
Provided during the period - 3,998 257 2,669 6,924
As at 31 March 2025 - 101,349 730 7,203 109,282
Net Book Value
As at 31 March 2025 242,733 11,996 301 3,123 258,153
As at 1 April 2024 242,733 - 558 2,295 245,586
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 76,978 34,277
Prepayments and accrued income - (6,198 )
Other debtors 40,675 43,013
RDEC receivable 39,353 -
VAT 36,119 25,360
Directors' loan accounts - 17,043
193,125 113,495
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors (2,157 ) 6,778
Bank loans and overdrafts - 7,947
Other creditors 12,254 17,389
Accruals and deferred income 6,255 -
16,352 32,114
Page 4
Page 5
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 22,669 29,203
Funding circle loan - 27,919
Property 1 102,215 102,215
Property 2 100,465 100,465
225,349 259,802
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
Page 5