London Electrical (UK) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02984078 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2018

FOR

LONDON ELECTRICAL (UK) LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTOR:

P.S Bhagat

REGISTERED OFFICE:

75 Park Lane

Croydon

Surrey

CR9 1XS

REGISTERED NUMBER:

02984078 (England and Wales)

ACCOUNTANTS:

Kings Mill Partnership

75 Park Lane

Croydon

Surrey

CR9 1XS

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of London Electrical (UK) Limited for the year ended 31 October 2018 which comprise the Income

Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of London Electrical (UK) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of London Electrical (UK) Limited and state those matters that we have agreed to state to the director of London Electrical (UK) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than London Electrical (UK) Limited and its director for our work or for this report.

It is your duty to ensure that London Electrical (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of London Electrical (UK) Limited. You consider that London Electrical (UK) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of London Electrical (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Kings Mill Partnership

75 Park Lane

Croydon

Surrey

CR9 1XS

17 July 2019

FIXED ASSETS

Tangible assets

4

40,452

55,744

Investments

5

30,000

30,000

Investment property

6

824,132

802,132

894,584

887,876

CURRENT ASSETS

Stocks

61,000

67,500

Debtors

7

86,977

88,270

Cash at bank

16,769

1,288

164,746

157,058

CREDITORS

Amounts falling due within one year

8

334,353

398,729

NET CURRENT LIABILITIES

(169,607

)

(241,671

)

TOTAL ASSETS LESS CURRENT LIABILITIES

724,977

646,205

CREDITORS

Amounts falling due after more than one year

9

(669,984

)

(562,942

)

PROVISIONS FOR LIABILITIES

(19,076

)

(19,076

)

NET ASSETS

35,917

64,187

CAPITAL AND RESERVES

Called up share capital

226,000

226,000

Non distribution Reserve

10

81,323

81,323

Retained earnings

(271,406

)

(243,136

)

SHAREHOLDERS' FUNDS

35,917

64,187

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 17 July 2019 and were signed by:

P.S Bhagat - Director

1.	STATUTORY INFORMATION

London Electrical (UK) 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and

accumulated impairment losses.

Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual

value, over their expected useful lives at the following rates

Short Leaseholds - Straight Line over the life of the lease

Improvements to Leaseholds - Straight Line over the life of the lease.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine

whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the

recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where

it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount

of the cash-generating unit to which the asset belongs.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation being on 31st October 2017. The valuation was carried

out by the ultimate controlling party Mr Salman.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable

value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of

inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net

realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the

related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of

stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any

reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an

expense in the period in which the reversal occurs.

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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 November 2017

and 31 October 2018

147,496

DEPRECIATION

At 1 November 2017

91,752

Charge for year

15,292

At 31 October 2018

107,044

NET BOOK VALUE

At 31 October 2018

40,452

At 31 October 2017

55,744

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 November 2017

and 31 October 2018

30,000

NET BOOK VALUE

At 31 October 2018

30,000

At 31 October 2017

30,000

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2017

802,132

Additions

22,000

At 31 October 2018

824,132

NET BOOK VALUE

At 31 October 2018

824,132

At 31 October 2017

802,132

The other properties were valued in 2017 and the ultimate controlling party still considers the values to be valid.

7.

DEBTORS

2018

2017

£

£

Amounts falling due within one year:

Trade debtors

1,513

1,966

Amounts owed by group undertakings

11,356

12,196

12,869

14,162

Amounts falling due after more than one year:

Other debtors

74,108

74,108

Aggregate amounts

86,977

88,270

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

29,137

Trade creditors

37,127

4,809

Taxation and social security

2,547

1,756

Other creditors

294,679

363,027

334,353

398,729

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

669,984

562,942

The company continues to trade with the continued support of its major shareholder Mr Rahman Salman.

10.

RESERVES

Non

distribution

Reserve

£

At 1 November 2017

and 31 October 2018

81,323