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

REGISTERED NUMBER: 08870490 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2020

FOR

ELSWORTH ELECTRICAL SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTOR:

Mr D Elsworth

REGISTERED OFFICE:

19 Abbots Business Park

Primrose Hill

Kings Langley

Hertfordshire

WD4 8FR

REGISTERED NUMBER:

08870490 (England and Wales)

ACCOUNTANTS:

Beyond Accounting Limited

19 Abbots Business Park

Primrose Hill

Kings Langley

Hertfordshire

WD4 8FR

FIXED ASSETS

Tangible assets

4

4,238

5,671

CURRENT ASSETS

Debtors

5

17,484

6,943

Cash in hand

1

1

17,485

6,944

CREDITORS

Amounts falling due within one year

6

19,424

17,321

NET CURRENT LIABILITIES

(1,939

)

(10,377

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,299

(4,706

)

CREDITORS

Amounts falling due after more than one year

7

6,178

8,296

NET LIABILITIES

(3,879

)

(13,002

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(3,880

)

(13,003

)

SHAREHOLDERS' FUNDS

(3,879

)

(13,002

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 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 and authorised for issue on 12 June 2020 and were signed by:

Mr D Elsworth - Director

1.	STATUTORY INFORMATION

Elsworth 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

At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the directors that they will continue to give financial support to the company for twelve months from the date of signing these financial statements.

On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which may arise. The accounts do not include any adjustments to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

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.

Tools and equipment

-

25% on reducing balance

Commercial vehicles

-

Straight line over 4 years

Computer equipment

-

Straight line over 3 years

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Tools and

Commercial

Computer

equipment

vehicles

equipment

Totals

£

£

£

£

COST

At 1 February 2019

3,515

4,750

1,763

10,028

Additions

146

-

-

146

At 31 January 2020

3,661

4,750

1,763

10,174

DEPRECIATION

At 1 February 2019

2,099

495

1,763

4,357

Charge for year

391

1,188

-

1,579

At 31 January 2020

2,490

1,683

1,763

5,936

NET BOOK VALUE

At 31 January 2020

1,171

3,067

-

4,238

At 31 January 2019

1,416

4,255

-

5,671

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Trade debtors

1,660

-

Other debtors

10,351

6,015

Directors' current accounts

5,473

-

Value added tax

-

928

17,484

6,943

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Bank loans and overdrafts

10,835

8,003

Other loans

2,118

2,118

Trade creditors

454

552

Taxation

2,502

2,626

Value added tax

2,185

-

Directors' current accounts

-

2,757

Accruals

1,330

1,265

19,424

17,321

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.20

31.1.19

£

£

Other loans - 1-2 years

2,118

2,118

Other loans - 2-5 years

4,060

6,178

6,178

8,296

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2020 and 31 January 2019:

31.1.20

31.1.19

£

£

Mr D Elsworth

Balance outstanding at start of year

-

-

Amounts advanced

5,473

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,473

-

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 Balance Sheet. 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 Elsworth Electrical Services Limited for the year ended 31 January 2020 which comprise the Income Statement, Balance Sheet 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Elsworth Electrical Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Elsworth Electrical Services Limited and state those matters that we have agreed to state to the director of Elsworth Electrical Services Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Elsworth Electrical Services 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 profit of Elsworth Electrical Services Limited. You consider that Elsworth Electrical Services 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 Elsworth Electrical Services 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.

Beyond Accounting Limited

19 Abbots Business Park

Primrose Hill

Kings Langley

Hertfordshire

WD4 8FR

12 June 2020