Greater London Electrical Ltd
|
Registered Number
:
07957790
|
For the year ended 28 February 2019
England and Wales
Unaudited Financial Statements
For the year ended 28 February 2019
Greater London Electrical Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
Greater London Electrical Ltd
Statement of Financial Position
2018
2019
Property
,
plant and equipment
|
14,439
18,948
2
14,439
18,948
Trade and other receivables
|
74,780
80,705
3
21
Cash and cash equivalents
|
526
81,231
74,801
Trade and other payables
:
amounts falling due within one
|
year
|
(71,455)
(74,632)
4
3,346
6,599
Net current assets
Total assets less current liabilities
|
21,038
22,294
21,038
Net assets
22,294
1
1
21,037
22,293
21,038
22,294
Shareholders' funds
For the year ended 28 February 2019 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 of its financial statements for the year ended 28 February 2019 in accordance with Section 476 of the Companies Act 2006
|
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
|
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
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
|
These financial statements were approved and authorised for issue by the Board on 25 November 2019 and were signed by:
|
The notes form part of these financial statements
|
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For the year ended 28 February 2019
Greater London Electrical Ltd
Notes to the Financial Statements
Statutory Information
Greater London Electrical Ltd is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
|
registration number
07957790
.
|
266-268 Wickham Road
Shirley
Surrey
CR0 8BJ
The presentation currency is £ sterling
.
|
The cost of intangible asset was for the design and creation of brand name
&
logo for the company
.
This has now
|
been fully amortised
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A of Financial
|
Reporting Standard
102
'
The Financial Reporting Standard applicable in the UK and Republic of Ireland
'
and the
|
Companies Act
2006
.
The financial statements have been prepared under the historical costs convention as
|
modified by the revaluation of certain assets
.
|
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Computer equipment
Motor vehicles
Fixtures and fittings
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
|
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
|
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For the year ended 28 February 2019
Greater London Electrical Ltd
Notes to the Financial Statements Continued
2
.
Property
,
plant and equipment
|
Motor vehicles
62,556
4,697
18,203
38,746
910
38,746
18,203
4,697
62,556
910
Provision for depreciation and impairment
|
43,608
2,519
13,344
27,745
-
Charge for year
4,509
544
1,215
2,750
-
48,117
3,063
14,559
30,495
-
910
8,251
3,644
1,634
14,439
910
11,001
4,859
2,178
18,948
3
.
Trade and other receivables
|
2018
2019
58,205
39,780
22,500
35,000
74,780
80,705
4
.
Trade and other payables
:
amounts falling due within one year
|
2018
2019
13,138
544
Taxation and social security
|
36,760
61,170
24,734
9,741
74,632
71,455
5
.
Related party transactions
|
During the year
,
the Company purchased goods from an associated company
-
Ralco Electrical Supplies Ltd
.
The
|
value of these purchases in the year ended
28
February
2019
was £
86
,
923
.
The Company
'
s director is also a
|
director of the associated company
.
|
Greater London Electrical Ltd also shared premises with Ralco Electrical Supplies Ltd and an income of £
6
,
338
was
|
receivable in respect of the shared costs
.
|
The above transactions were all conducted on an arms
-
length basis
.
|
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