NME Electrical Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04152383 (England and Wales)

NME ELECTRICAL SERVICES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

A C Pell

N J McAllister

SECRETARY:

Mrs S M McAllister

REGISTERED OFFICE:

30 Chartergate

Quarry Park Close

Moulton Park Ind Estate

Northampton

Northamptonshire

NN3 6QB

REGISTERED NUMBER:

04152383 (England and Wales)

ACCOUNTANTS:

Phipps Henson McAllister

Chartered Accountants

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

FIXED ASSETS

Tangible assets

4

4,815

2,871

CURRENT ASSETS

Stocks

15,037

15,029

Debtors

5

1,683,677

1,109,243

Cash at bank

96,239

210,002

1,794,953

1,334,274

CREDITORS

Amounts falling due within one year

6

1,418,292

1,029,805

NET CURRENT ASSETS

376,661

304,469

TOTAL ASSETS LESS CURRENT LIABILITIES

381,476

307,340

PROVISIONS FOR LIABILITIES

622

242

NET ASSETS

380,854

307,098

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

380,754

306,998

SHAREHOLDERS' FUNDS

380,854

307,098

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 11 November 2019 and were signed on its behalf by:

N J McAllister - Director

1.	STATUTORY INFORMATION

NME 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.

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.

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.

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2018 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 April 2018

4,431

Additions

3,550

At 31 March 2019

7,981

DEPRECIATION

At 1 April 2018

1,560

Charge for year

1,606

At 31 March 2019

3,166

NET BOOK VALUE

At 31 March 2019

4,815

At 31 March 2018

2,871

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

1,606,773

1,022,508

Other debtors

76,904

86,735

1,683,677

1,109,243

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

1,193,854

909,824

Taxation and social security

128,189

107,054

Other creditors

96,249

12,927

1,418,292

1,029,805

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

38,673

12,963

Between one and five years

101,324

73,316

139,997

86,279

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100