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Registered number: 02984078
London Electrical (UK) Limited
Unaudited Financial Statements
For The Year Ended 31 October 2025
Gilmour Bennett Associates Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02984078
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,041,897 1,144,498
Investment Properties 5 1,001,004 1,001,004
Investments 6 30,000 30,000
2,072,901 2,175,502
CURRENT ASSETS
Stocks 7 30,225 32,000
Debtors 8 - 10,944
Cash at bank and in hand 72,899 27,930
103,124 70,874
Creditors: Amounts Falling Due Within One Year 9 (1,795,622 ) (1,846,297 )
NET CURRENT ASSETS (LIABILITIES) (1,692,498 ) (1,775,423 )
TOTAL ASSETS LESS CURRENT LIABILITIES 380,403 400,079
Creditors: Amounts Falling Due After More Than One Year 10 - (150,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (58,952 ) (58,952 )
NET ASSETS 321,451 191,127
CAPITAL AND RESERVES
Called up share capital 11 226,000 226,000
Other reserves 183,135 183,135
Profit and Loss Account (87,684 ) (218,008 )
SHAREHOLDERS' FUNDS 321,451 191,127
Page 1
Page 2
For the year ending 31 October 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 Rahman Salman
Director
15th July 2026
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
London Electrical (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02984078 . The registered office is D S House, 306 High Street, Croydon, Surrey, CR0 1NG.
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:
Freehold 1% straight line method
Leasehold Straight line method over life of asset
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. 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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
3Average number of employees, including directors, during the year was: 3 (2024: 3)
3 3
4. Tangible Assets
Land & Property
Freehold Leasehold Total
£ £ £
Cost
As at 1 November 2024 1,072,465 251,416 1,323,881
Additions 42,000 35,000 77,000
Disposals (35,000 ) (133,457 ) (168,457 )
As at 31 October 2025 1,079,465 152,959 1,232,424
Depreciation
As at 1 November 2024 42,889 136,494 179,383
Provided during the period 11,144 - 11,144
As at 31 October 2025 54,033 136,494 190,527
Net Book Value
As at 31 October 2025 1,025,432 16,465 1,041,897
As at 1 November 2024 1,029,576 114,922 1,144,498
5. Investment Property
2025
£
Fair Value
As at 1 November 2024 and 31 October 2025 1,001,004
6. Investments
Unlisted
£
Cost or Valuation
As at 1 November 2024 30,000
As at 31 October 2025 30,000
Provision
As at 1 November 2024 -
As at 31 October 2025 -
Net Book Value
As at 31 October 2025 30,000
As at 1 November 2024 30,000
7. Stocks
2025 2024
£ £
Finished goods 30,225 32,000
Page 4
Page 5
8. Debtors
2025 2024
£ £
Due within one year
Trade debtors - 6,113
Other debtors - 4,831
- 10,944
9. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 13,309 23,129
Bank loans and overdrafts 32,172 38,489
Other loans 1,675,250 1,645,862
Amounts owed to group undertakings 18,300 26,300
Other creditors 10,576 102,411
Taxation and social security 46,015 10,106
1,795,622 1,846,297
10. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Other creditors - 150,000
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 226,000 226,000
Page 5