G & R Electrical Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04741386 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2021

for

G & R Electrical Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr J Garnett

REGISTERED OFFICE:

24 Beresford Road

North End

Portsmouth

Hampshire

PO2 OBY

REGISTERED NUMBER:

04741386 (England and Wales)

ACCOUNTANTS:

Ency Associates

Printware Court

Cumberland Business Centre

Northumberland Road

Portsmouth

Hampshire

PO5 1DS

FIXED ASSETS

Tangible assets

4

3,217

4,312

CURRENT ASSETS

Stocks

1,000

1,000

Debtors

5

15,459

7,521

Cash at bank

80,885

59,584

97,344

68,105

CREDITORS

Amounts falling due within one year

6

36,618

41,238

NET CURRENT ASSETS

60,726

26,867

TOTAL ASSETS LESS CURRENT LIABILITIES

63,943

31,179

CREDITORS

Amounts falling due after more than one year

7

(8,500

)

-

PROVISIONS FOR LIABILITIES

(611

)

(819

)

NET ASSETS

54,832

30,360

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

54,830

30,358

SHAREHOLDERS' FUNDS

54,832

30,360

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 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 13 August 2021 and were signed by:

Mr J Garnett - Director

1.	STATUTORY INFORMATION

G & R 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.

Fixtures & fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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 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.

Revenue recognition

Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of the work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Motor

Computer

& fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 May 2020

and 30 April 2021

1,385

12,695

1,191

15,271

DEPRECIATION

At 1 May 2020

1,227

8,678

1,054

10,959

Charge for year

24

1,004

67

1,095

At 30 April 2021

1,251

9,682

1,121

12,054

NET BOOK VALUE

At 30 April 2021

134

3,013

70

3,217

At 30 April 2020

158

4,017

137

4,312

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Trade debtors

3,096

-

Other debtors

12,363

7,521

15,459

7,521

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans and overdrafts

1,500

-

Trade creditors

-

204

Taxation and social security

12,623

8,620

Other creditors

22,495

32,414

36,618

41,238

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans

8,500

-

30.4.21

30.4.20

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

500

-

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr J Garnett.