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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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YORVIK ELECTRICAL CONTRACTORS LTD |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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FOR |
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YORVIK ELECTRICAL CONTRACTORS LTD |
YORVIK ELECTRICAL CONTRACTORS LTD (REGISTERED NUMBER: 05230698) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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YORVIK ELECTRICAL CONTRACTORS LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Lawrence House |
James Nicolson Link |
Clifton Moor |
York |
North Yorkshire |
YO30 4WG |
YORVIK ELECTRICAL CONTRACTORS LTD (REGISTERED NUMBER: 05230698) |
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BALANCE SHEET |
30 SEPTEMBER 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
8 |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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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. |
YORVIK ELECTRICAL CONTRACTORS LTD (REGISTERED NUMBER: 05230698) |
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BALANCE SHEET - continued |
30 SEPTEMBER 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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YORVIK ELECTRICAL CONTRACTORS LTD (REGISTERED NUMBER: 05230698) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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1. | STATUTORY INFORMATION |
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Yorvik Electrical Contractors Ltd is a
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2. | ACCOUNTING POLICIES |
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BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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TANGIBLE FIXED ASSETS |
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Plant and machinery | - |
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Motor vehicles | - |
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Office equipment | - |
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GOVERNMENT GRANTS |
Government grants in relation to tangible assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to the profit and loss. |
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STOCKS |
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 items. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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YORVIK ELECTRICAL CONTRACTORS LTD (REGISTERED NUMBER: 05230698) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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2. | ACCOUNTING POLICIES - continued |
DEFERRED TAX |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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INCOME RECOGNITION |
Income is recognised when goods and services have been delivered to customers such that the risks and rewards of ownership have transferred to them. |
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HIRE PURCHASE AND LEASING COMMITMENTS |
Rentals paid under operating leases are charged to the profit and loss account as incurred. |
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FINANCE COSTS OF DEBT |
The finance costs of debt. including interest and issue costs, are allocated to each period over the term of the debt and charged to the profit and loss account at a constant rate on the outstanding amount. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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YORVIK ELECTRICAL CONTRACTORS LTD (REGISTERED NUMBER: 05230698) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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4. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Office |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 October 2020 |
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Additions |
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Disposals |
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At 30 September 2021 |
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DEPRECIATION |
At 1 October 2020 |
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Charge for year |
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Eliminated on disposal |
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At 30 September 2021 |
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NET BOOK VALUE |
At 30 September 2021 |
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At 30 September 2020 |
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5. | STOCKS |
2021 | 2020 |
£ | £ |
Stocks |
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Work-in-progress |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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VAT |
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YORVIK ELECTRICAL CONTRACTORS LTD (REGISTERED NUMBER: 05230698) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts (see note 9) |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | - | 38,122 |
Directors' current accounts |
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Accruals and deferred income |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans (see note 9) |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | - | 7,500 |
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9. | LOANS |
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An analysis of the maturity of loans is given below: |
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2021 | 2020 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
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Amounts falling due between one and two years: |
Bank loans - 1-2 years |
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Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | - | 7,500 |
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The bounce back bank loan was repaid in full during the year. |
YORVIK ELECTRICAL CONTRACTORS LTD (REGISTERED NUMBER: 05230698) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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10. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2021 | 2020 |
£ | £ |
Within one year |
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Between one and five years |
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11. | RELATED PARTY DISCLOSURES |
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The directors current account showed that as at 30 September 2021 the company owed the directors £8,266 (2020- £498). |
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12. | PENSION CONTRIBUTIONS |
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The company operates a defined contribution pension scheme. The assets of the pension scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable by the company to the fund during the period and amounted to £91,997 (2020 - £30,206 ). |