N Smith Electrical Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05220835 (England and Wales)

N Smith Electrical Limited

Unaudited Financial Statements for the Year Ended 30 November 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr N Smith

Mr C Smith

Mr R M Jones

REGISTERED OFFICE:

Unit 23 Ghyll Industrial Estate

Ghyll Road

Heathfield

East Sussex

TN21 8AW

REGISTERED NUMBER:

05220835 (England and Wales)

ACCOUNTANTS:

Swindells LLP

Chartered Accountants

Atlantic House

8 Bell Lane

Bellbrook Industrial Estate

Uckfield

East Sussex

TN22 1QL

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

323,541

315,551

Investment property

6

280,000

603,541

595,551

CURRENT ASSETS

Stocks

554,991

561,200

Debtors

7

326,641

563,439

Cash at bank and in hand

882,041

1,100,620

1,763,673

2,225,259

CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

8

1,123,529

1,254,216

NET CURRENT ASSETS

640,144

971,043

TOTAL ASSETS LESS CURRENT LIABILITIES

1,243,685

1,566,594

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

9

(214,976

)

(245,848

)

PROVISIONS FOR LIABILITIES

(24,258

)

(20,769

)

NET ASSETS

1,004,451

1,299,977

CAPITAL AND RESERVES

Called up share capital

11

211

Fair value reserve

12

32,500

Retained earnings

971,740

1,267,266

SHAREHOLDERS' FUNDS

1,004,451

1,299,977

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 August 2026 and were signed on its behalf by:

Mr C Smith - Director

1.	STATUTORY INFORMATION

N Smith Electrical 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of electrical services supplied to customers. Revenue is recognised when the company obtains, through performance under contract, the right to consideration for those services.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Investment property

Investment property is shown at a fair value at each reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company contributes to an employees' defined contribution pension scheme. Contributions payable to the pension scheme are charged to profit or loss in the period to which they relate.

Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in the profit or loss in the period in which it arises.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2024 - 34 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2024

and 30 November 2025

17,000

AMORTISATION

At 1 December 2024

and 30 November 2025

17,000

NET BOOK VALUE

At 30 November 2025

-

At 30 November 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

COST

At 1 December 2024

313,930

10,229

14,174

Additions

-

Disposals

-

At 30 November 2025

313,930

10,229

14,174

DEPRECIATION

At 1 December 2024

37,674

9,344

12,780

Charge for year

6,279

229

352

Eliminated on disposal

-

At 30 November 2025

43,953

9,573

13,132

NET BOOK VALUE

At 30 November 2025

269,977

656

1,042

At 30 November 2024

276,256

885

1,394

Motor

Computer

vehicles

equipment

Totals

£

COST

At 1 December 2024

105,307

61,902

505,542

Additions

39,000

1,651

40,651

Disposals

(38,511

)

(92

)

(38,603

)

At 30 November 2025

105,796

63,461

507,590

DEPRECIATION

At 1 December 2024

86,185

44,008

189,991

Charge for year

12,419

4,869

24,148

Eliminated on disposal

(30,067

)

(23

)

(30,090

)

At 30 November 2025

68,537

48,854

184,049

NET BOOK VALUE

At 30 November 2025

37,259

14,607

323,541

At 30 November 2024

19,122

17,894

315,551

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2024

and 30 November 2025

280,000

NET BOOK VALUE

At 30 November 2025

280,000

At 30 November 2024

280,000

The investment property was valued on a fair value basis on 30 November 2025 by the directors.

If the investment property has not been revalued it would have been included at a historical cost of £250,000.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

210,209

470,902

Other debtors

116,432

92,537

326,641

563,439

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

29,706

29,163

Trade creditors

662,725

590,786

Taxation and social security

66,795

285,534

Other creditors

364,303

348,733

1,123,529

1,254,216

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Bank loans

214,976

245,848

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than five years by
instalments

114,631

144,748

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank loans

235,516

255,843

The bank loan is secured by way of fixed and floating charges over the property of the company.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

Value:

£

100

Ordinary

1

100

Ordinary A

1

100

10

Ordinary B

1

10

1

Ordinary C

1

211

12.

RESERVES

Fair

value

reserve

£

At 1 December 2024

and 30 November 2025

32,500

13.	OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £115,650 (2024 - £83,843).

14.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, the company made advances to the directors totalling £1,750 (2024 - £nil). At the balance sheet date the directors owed the company £2,654 (2024 - £904).

Loans to the directors are interest free, unsecured and repayable on demand.

15.	RELATED PARTY DISCLOSURES

Dividends paid to the directors in the year amounted to £192,780 (2024 - £155,000).