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 2022

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

A C Pell

N J McAllister

G M Malin

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

3,078

757

CURRENT ASSETS

Stocks

25,000

19,000

Debtors

5

2,944,967

2,147,133

Cash at bank

177,450

498,564

3,147,417

2,664,697

CREDITORS

Amounts falling due within one year

6

2,017,490

1,536,055

NET CURRENT ASSETS

1,129,927

1,128,642

TOTAL ASSETS LESS CURRENT LIABILITIES

1,133,005

1,129,399

CREDITORS

Amounts falling due after more than one year

7

152,000

202,704

NET ASSETS

981,005

926,695

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

980,905

926,595

SHAREHOLDERS' FUNDS

981,005

926,695

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 and authorised for issue on 7 December 2022 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 38 (2021 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 April 2021

2,811

Additions

3,949

Disposals

(2,498

)

At 31 March 2022

4,262

DEPRECIATION

At 1 April 2021

2,054

Charge for year

1,179

Eliminated on disposal

(2,049

)

At 31 March 2022

1,184

NET BOOK VALUE

At 31 March 2022

3,078

At 31 March 2021

757

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

2,816,246

2,040,473

Other debtors

128,721

106,660

2,944,967

2,147,133

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

48,000

37,296

Trade creditors

1,602,667

1,190,478

Taxation and social security

182,739

159,441

Other creditors

184,084

148,840

2,017,490

1,536,055

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

152,000

202,704

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

8,560

8.	LEASING AGREEMENTS

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

2022

2021

£

£

Within one year

70,100

51,592

Between one and five years

135,431

67,881

205,531

119,473

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

£1

100

100