G & R Electrical Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04741386 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2019

for

G & R Electrical Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J Garnett

REGISTERED OFFICE:

24 Beresford Road

North End

Portsmouth

Hampshire

PO2 OBY

REGISTERED NUMBER:

04741386 (England and Wales)

ACCOUNTANTS:

Ency Associates

Printware Court

Cumberland Business Centre

Northumberland Road

Portsmouth

Hampshire

PO5 1DS

FIXED ASSETS

Tangible assets

4

5,541

7,359

CURRENT ASSETS

Stocks

1,000

1,000

Debtors

5

15,599

14,111

Cash at bank

44,991

31,835

61,590

46,946

CREDITORS

Amounts falling due within one year

6

44,895

43,978

NET CURRENT ASSETS

16,695

2,968

TOTAL ASSETS LESS CURRENT LIABILITIES

22,236

10,327

PROVISIONS FOR LIABILITIES

1,053

1,398

NET ASSETS

21,183

8,929

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

21,181

8,927

SHAREHOLDERS' FUNDS

21,183

8,929

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 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 applicable to companies subject to the small companies regime.

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 7 November 2019 and were signed by:

Mr J Garnett - Director

1.	STATUTORY INFORMATION

G & R Electrical Services 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.

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.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

Revenue recognition

Fee income represents revenue earned under a wide variety of contracts to provide professional

services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to

consideration in exchange for its performance under these contracts. It is measured at the fair value

of the right to consideration, which represents amounts chargeable to clients, including expenses

and disbursements but excluding value added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it

reflects the partial performance of the contractual obligations. For such contracts the amount of

revenue reflects the accrual of the right to consideration by reference to the value of the work

performed. Revenue not billed to clients is included in debtors and payments on account in excess

of the relevant amount of revenue are included in creditors.

Fee income that is contingent on events outside the control of the firm is recognised when the

contingent event occurs.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Motor

Computer

& fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 May 2018

and 30 April 2019

1,385

12,695

987

15,067

DEPRECIATION

At 1 May 2018

1,167

5,554

987

7,708

Charge for year

33

1,785

-

1,818

At 30 April 2019

1,200

7,339

987

9,526

NET BOOK VALUE

At 30 April 2019

185

5,356

-

5,541

At 30 April 2018

218

7,141

-

7,359

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Trade debtors

6,756

5,214

Other debtors

8,843

8,897

15,599

14,111

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Trade creditors

1,284

1,833

Taxation and social security

9,423

6,840

Other creditors

34,188

35,305

44,895

43,978

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J Garnett.