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

REGISTERED NUMBER: 05818616 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

OHM ELECTRICAL SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Mr N Haughton

Mrs H Haughton

Registered office:

19-21 Bridgeman Terrace

Wigan

Lancashire

WN1 1TD

Registered number:

05818616 (England and Wales)

Accountants:

NR Barton

19-21 Bridgeman Terrace

Wigan

Lancashire

WN1 1TD

FIXED ASSETS

Tangible assets

4

33,906

45,209

CURRENT ASSETS

Stocks

28,000

27,500

Debtors

5

234,395

195,593

262,395

223,093

CREDITORS

Amounts falling due within one year

6

328,350

293,185

NET CURRENT LIABILITIES

(65,955

)

(70,092

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(32,049

)

(24,883

)

CREDITORS

Amounts falling due after more than one year

7

16,868

26,508

NET LIABILITIES

(48,917

)

(51,391

)

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

(48,919

)

(51,393

)

SHAREHOLDERS' FUNDS

(48,917

)

(51,391

)

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 12 March 2020 and were signed on its behalf by:

Mrs H Haughton - Director

1.	STATUTORY INFORMATION

OHM 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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 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.

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 the 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.

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

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2018

and 31 March 2019

6,145

46,968

53,113

DEPRECIATION

At 1 April 2018

3,990

3,914

7,904

Charge for year

539

10,764

11,303

At 31 March 2019

4,529

14,678

19,207

NET BOOK VALUE

At 31 March 2019

1,616

32,290

33,906

At 31 March 2018

2,155

43,054

45,209

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2018

and 31 March 2019

46,968

DEPRECIATION

At 1 April 2018

3,914

Charge for year

10,764

At 31 March 2019

14,678

NET BOOK VALUE

At 31 March 2019

32,290

At 31 March 2018

43,054

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

173,418

124,092

Other debtors

60,977

71,501

234,395

195,593

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans and overdrafts

15,523

16,821

Hire purchase contracts

9,639

9,639

Trade creditors

280,707

227,967

Taxation and social security

2,421

23,321

Other creditors

20,060

15,437

328,350

293,185

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Hire purchase contracts

16,868

26,508

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

2

Ordinary

£1

2

2

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2019 and

31 March 2018:

31.3.19

31.3.18

£

£

Mr N Haughton and Mrs H Haughton

Balance outstanding at start of year

45,151

53,878

Amounts advanced

-

1,273

Amounts repaid

(12,541

)

(10,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

32,610

45,151

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr N and Mrs H Haughton.