Switched On Electrical (Midlands) Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 11619338 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

SWITCHED ON ELECTRICAL (MIDLANDS) LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P Southwell

Mrs P Southwell

REGISTERED OFFICE:

123 Unicorn Avenue

Eastern Green

Coventry

West Midlands

CV5 7FB

REGISTERED NUMBER:

11619338 (England and Wales)

FIXED ASSETS

Tangible assets

4

95,858

77,265

CURRENT ASSETS

Stocks

12,000

10,500

Debtors

39,618

48,782

Cash at bank

48,417

42,021

100,035

101,303

CREDITORS

Amounts falling due within one year

57,529

63,687

NET CURRENT ASSETS

42,506

37,616

TOTAL ASSETS LESS CURRENT
LIABILITIES

138,364

114,881

CREDITORS

Amounts falling due after more than one
year

(53,688

)

(35,411

)

PROVISIONS FOR LIABILITIES

(12,073

)

(7,235

)

NET ASSETS

72,603

72,235

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

72,503

72,135

SHAREHOLDERS' FUNDS

72,603

72,235

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 1 July 2026 and were signed on its behalf by:

Mr P Southwell - Director

1.	STATUTORY INFORMATION

Switched On Electrical (Midlands) Ltd 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.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below.

Turnover

Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on cost

Fixtures & fittings

-

25% on reducing balance

Motor vehicles

-

25% on cost

Computer equipment

-

Straight line over 3 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2025

159,990

Additions

41,103

At 31 December 2025

201,093

DEPRECIATION

At 1 January 2025

82,726

Charge for year

22,509

At 31 December 2025

105,235

NET BOOK VALUE

At 31 December 2025

95,858

At 31 December 2024

77,264

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:

Totals

£

COST

At 1 January 2025

57,651

Additions

37,968

At 31 December 2025

95,619

DEPRECIATION

At 1 January 2025

18,463

Charge for year

11,618

At 31 December 2025

30,081

NET BOOK VALUE

At 31 December 2025

65,538

At 31 December 2024

39,188

5.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

Finance leases

2025

2024

2025

2024

£

Net obligations repayable:

Within one year

6,158

-

6,872

Between one and five years

28,244

-

25,444

32,316

34,402

-

32,316

39,188

6.	PENSION COMMITMENTS

As at the year end the company had outstanding pension contributions of £361 (2024: £355)