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 2020

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:

1st Floor Waterside House

Waterside Drive

Wigan

Lancashire

WN3 5AZ

Registered number:

05818616 (England and Wales)

Accountants:

NR Barton

1st Floor Waterside House

Waterside Drive

Wigan

Lancashire

WN3 5AZ

FIXED ASSETS

Tangible assets

4

20,977

33,906

CURRENT ASSETS

Stocks

27,750

28,000

Debtors

5

172,789

234,395

200,539

262,395

CREDITORS

Amounts falling due within one year

6

253,322

328,350

NET CURRENT LIABILITIES

(52,783

)

(65,955

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(31,806

)

(32,049

)

CREDITORS

Amounts falling due after more than one year

7

4,429

16,868

NET LIABILITIES

(36,235

)

(48,917

)

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

(36,237

)

(48,919

)

SHAREHOLDERS' FUNDS

(36,235

)

(48,917

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 and authorised for issue on 30 June 2021 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 (2019 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2019

6,145

46,968

53,113

Additions

879

-

879

Disposals

-

(10,022

)

(10,022

)

At 31 March 2020

7,024

36,946

43,970

DEPRECIATION

At 1 April 2019

4,529

14,678

19,207

Charge for year

569

6,349

6,918

Eliminated on disposal

-

(3,132

)

(3,132

)

At 31 March 2020

5,098

17,895

22,993

NET BOOK VALUE

At 31 March 2020

1,926

19,051

20,977

At 31 March 2019

1,616

32,290

33,906

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

Motor

vehicles

£

COST

At 1 April 2019

46,968

Disposals

(10,022

)

At 31 March 2020

36,946

DEPRECIATION

At 1 April 2019

14,678

Charge for year

6,349

Eliminated on disposal

(3,132

)

At 31 March 2020

17,895

NET BOOK VALUE

At 31 March 2020

19,051

At 31 March 2019

32,290

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

122,092

173,418

Other debtors

50,697

60,977

172,789

234,395

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans and overdrafts

7,259

15,523

Hire purchase contracts

7,088

9,639

Trade creditors

216,094

280,707

Taxation and social security

4,556

2,421

Other creditors

18,325

20,060

253,322

328,350

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

4,429

16,868

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.20

31.3.19

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 2020 and 31 March 2019:

31.3.20

31.3.19

£

£

Mr N Haughton and Mrs H Haughton

Balance outstanding at start of year

32,610

45,151

Amounts advanced

978

-

Amounts repaid

-

(12,541

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

33,588

32,610

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr N and Mrs H Haughton.