Hetherington Electrical Limited Filleted accounts for Companies House (small and micro)

HETHERINGTON ELECTRICAL LIMITED - Company Information

1 false false false false false false false false false true false false false false false false No description of principal activity 2021-05-01 Sage Accounts Production Advanced 2021 - FRS102_2021 10,000 10,000 xbrli:pure xbrli:shares iso4217:GBP 07595562 2021-05-01 2022-04-30 07595562 2022-04-30 07595562 2021-04-30 07595562 2020-05-01 2021-04-30 07595562 2021-04-30 07595562 core:NetGoodwill 2021-05-01 2022-04-30 07595562 core:PlantMachinery 2021-05-01 2022-04-30 07595562 core:FurnitureFittings 2021-05-01 2022-04-30 07595562 core:MotorVehicles 2021-05-01 2022-04-30 07595562 bus:Director1 2021-05-01 2022-04-30 07595562 core:NetGoodwill 2022-04-30 07595562 core:PlantMachinery 2021-04-30 07595562 core:FurnitureFittings 2021-04-30 07595562 core:MotorVehicles 2021-04-30 07595562 core:PlantMachinery 2022-04-30 07595562 core:FurnitureFittings 2022-04-30 07595562 core:MotorVehicles 2022-04-30 07595562 core:WithinOneYear 2022-04-30 07595562 core:WithinOneYear 2021-04-30 07595562 core:ShareCapital 2022-04-30 07595562 core:ShareCapital 2021-04-30 07595562 core:RetainedEarningsAccumulatedLosses 2022-04-30 07595562 core:RetainedEarningsAccumulatedLosses 2021-04-30 07595562 core:PlantMachinery 2021-04-30 07595562 core:FurnitureFittings 2021-04-30 07595562 core:MotorVehicles 2021-04-30 07595562 bus:SmallEntities 2021-05-01 2022-04-30 07595562 bus:AuditExemptWithAccountantsReport 2021-05-01 2022-04-30 07595562 bus:FullAccounts 2021-05-01 2022-04-30 07595562 bus:SmallCompaniesRegimeForAccounts 2021-05-01 2022-04-30 07595562 bus:PrivateLimitedCompanyLtd 2021-05-01 2022-04-30

COMPANY REGISTRATION NUMBER: 07595562

Hetherington Electrical Limited

Filleted Unaudited Financial Statements

30 April 2022

Hetherington Electrical Limited

Statement of Financial Position

30 April 2022

	2022	2021
Note	£	£

Fixed assets

Tangible assets	6	2,072	2,820

Current assets

Stocks		8,496	525
Debtors	7	3,264	13,439
Cash at bank and in hand		30,760	42,161
		--------	--------
		42,520	56,125

Creditors: amounts falling due within one year	8	( 8,482)	( 17,155)
		--------	--------
Net current assets		34,038	38,970
		--------	--------
Total assets less current liabilities		36,110	41,790
		--------	--------
Net assets		36,110	41,790
		--------	--------

Capital and reserves

Called up share capital	99	99
Profit and loss account	36,011	41,691
	--------	--------
Shareholders funds	36,110	41,790
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Hetherington Electrical Limited

Statement of Financial Position (continued)

30 April 2022

These financial statements were approved by the board of directors and authorised for issue on 11 January 2023 , and are signed on behalf of the board by:

Mr D J Hetherington

Director

Company registration number: 07595562

Hetherington Electrical Limited

Notes to the Financial Statements

Year ended 30 April 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Greenwood, Irthington, Carlisle, Cumbria, CA6 4NJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Office equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2021: 2 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 May 2021 and 30 April 2022	10,000
	--------
Amortisation
At 1 May 2021 and 30 April 2022	10,000
	--------
Carrying amount
At 30 April 2022	–
	--------
At 30 April 2021	–
	--------

6. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 May 2021	1,450	2,497	17,174	5,022	26,143
Disposals	–	–	–	( 705)	( 705)
	-------	-------	--------	-------	--------
At 30 April 2022	1,450	2,497	17,174	4,317	25,438
	-------	-------	--------	-------	--------
Depreciation
At 1 May 2021	1,098	2,282	15,433	4,510	23,323
Charge for the year	88	54	435	171	748
Disposals	–	–	–	( 705)	( 705)
	-------	-------	--------	-------	--------
At 30 April 2022	1,186	2,336	15,868	3,976	23,366
	-------	-------	--------	-------	--------
Carrying amount
At 30 April 2022	264	161	1,306	341	2,072
	-------	-------	--------	-------	--------
At 30 April 2021	352	215	1,741	512	2,820
	-------	-------	--------	-------	--------

7. Debtors

	2022	2021
	£	£
Trade debtors	3,264	9,949
Other debtors	–	3,490
	-------	--------
	3,264	13,439
	-------	--------

8. Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	25	23
Corporation tax	6,584	6,811
Social security and other taxes	601	3,921
Other creditors	1,272	6,400
	-------	--------
	8,482	17,155
	-------	--------

9. Directors' advances, credits and guarantees

Included in other debtors last year was £2,556 being the amount owed by the Directors to the Company. The amounts above are aggregate amounts and the loan is interest free.