ACCOUNTS - Final Accounts

WARRENDER ELECTRICAL SERVICES LIMITED - Company Information

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Registered number: 06166919

WARRENDER ELECTRICAL SERVICES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2019

WARRENDER ELECTRICAL SERVICES LIMITED

REGISTERED NUMBER: 06166919

BALANCE SHEET

AS AT 31 MARCH 2019

		2019		2018
Note		£		£


CURRENT ASSETS
Cash at bank and in hand	4	5,994		8,120
		5,994		8,120
Creditors: amounts falling due within one year	5	(3,872)		(3,213)
NET CURRENT ASSETS			2,122		4,907
TOTAL ASSETS LESS CURRENT LIABILITIES			2,122		4,907

NET ASSETS			2,122		4,907

CAPITAL AND RESERVES
Called up share capital	100	100
Profit and loss account	2,022	4,807
SHAREHOLDERS FUNDS	2,122	4,907

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 November 2019.

P Warrender

Director

The notes on pages 2 to 3 form part of these financial statements.

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WARRENDER ELECTRICAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

1.	GENERAL INFORMATION

Warrender Electrical Services Limited is a private company, limited by shares, domiciled in England and Wales, registration number 06166919. The registered office is 13 Oxford Road, Altrincham, WA14 2DY.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

TAXATION

Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.4

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.5

CREDITORS

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.6

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of

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WARRENDER ELECTRICAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

2.ACCOUNTING POLICIES (CONTINUED)

2.6

FINANCIAL INSTRUMENTS (continued)

financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

2.7

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 1 (2018 -1).

4.	CASH AND CASH EQUIVALENTS
		2019	2018
		£	£

Cash at bank and in hand	5,994	8,120
	5,994	8,120

5.	CREDITORS: Amounts falling due within one year
		2019	2018
		£	£

Corporation tax	2,162	1,900
Other taxation and social security	42	58
Other creditors	696	283
Accruals and deferred income	972	972
	3,872	3,213

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