REGISTERED NUMBER: |
E- Home Electrical Service Ltd. |
Unaudited Financial Statements |
for the Year Ended 31st March 2023 |
REGISTERED NUMBER: |
E- Home Electrical Service Ltd. |
Unaudited Financial Statements |
for the Year Ended 31st March 2023 |
E- Home Electrical Service Ltd. (Registered number: 10076320) |
Contents of the Financial Statements |
for the year ended 31st March 2023 |
Page |
Company information | 1 |
Balance sheet | 2 | to | 3 |
Notes to the financial statements | 4 | to | 7 |
E- Home Electrical Service Ltd. |
Company Information |
for the year ended 31st March 2023 |
Director: |
Registered office: |
Registered number: |
Accountants: |
Academy House |
Shedden Park Road |
Kelso |
Roxburghshire |
TD5 7AL |
E- Home Electrical Service Ltd. (Registered number: 10076320) |
Balance Sheet |
31st March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
Provisions for liabilities | ( |
) | ( |
) |
Net (liabilities)/assets | ( |
) |
Capital and reserves |
Called up share capital |
Retained earnings | ( |
) |
Shareholders' funds | ( |
) |
E- Home Electrical Service Ltd. (Registered number: 10076320) |
Balance Sheet - continued |
31st March 2023 |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
E- Home Electrical Service Ltd. (Registered number: 10076320) |
Notes to the Financial Statements |
for the year ended 31st March 2023 |
1. | Statutory information |
E- Home Electrical Service Ltd. is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. |
Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Office equipment | - |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Stocks |
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion. |
Financial instruments |
The following assets and liabilities are classified as financial instruments - trade creditors, bank loans, hire purchase contracts and directors' loans. |
Bank loans and hire purchase contracts are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
Directors' loans (being repayable on demand) and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings. |
E- Home Electrical Service Ltd. (Registered number: 10076320) |
Notes to the Financial Statements - continued |
for the year ended 31st March 2023 |
2. | Accounting policies - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income and retained earnings, 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. |
Provisions |
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis. |
Employee benefits |
Short term employee benefits, including holiday pay, are recognised as an expense in the statement of income and retained earnings in the period in which they are incurred. |
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 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. |
Going concern |
The company has a deficit on the balance sheet and relies on the support of its shareholders and creditors, which has been confirmed for a period of at least twelve months from the approval of the financial statements. Accordingly the director has prepared the financial statements on the going concern basis. |
3. | Employees and directors |
The average number of employees during the year was |
E- Home Electrical Service Ltd. (Registered number: 10076320) |
Notes to the Financial Statements - continued |
for the year ended 31st March 2023 |
4. | Tangible fixed assets |
Plant and | Motor | Office |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
Cost |
At 1st April 2022 |
and 31st March 2023 |
Depreciation |
At 1st April 2022 |
Charge for year |
At 31st March 2023 |
Net book value |
At 31st March 2023 |
At 31st March 2022 |
5. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Other debtors |
6. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
7. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bank loans |
Hire purchase contracts |
8. | Secured debts |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Hire purchase contracts | 3,917 | 5,518 |
Hire purchase contracts are secured against the assets to which they relate. |
E- Home Electrical Service Ltd. (Registered number: 10076320) |
Notes to the Financial Statements - continued |
for the year ended 31st March 2023 |
9. | Director's advances, credits and guarantees |
The following advances and credits to a director subsisted during the years ended 31st March 2023 and 31st March 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
This loan is unsecured, repayable on demand and interest has been charged at the official rates published by HMRC. |