Switched On Electricians Ltd

SWITCHED ON ELECTRICIANS LTD - Company Information

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Registered number: 5667515

Abbreviated accounts

For The Year Ended 31 January 2015

Jays Accountants & Tax Advisors LLP

Chartered Certified Accountants

The Old Coach House

83A Victoria Road

Farnborough

Hampshire

GU14 7PP

Switched On Electricians Ltd

Company No. 5667515

Abbreviated Balance Sheet 31 January 2015

Abbreviated Balance Sheet

		2015		2014
	Notes	£	£	£	£
FIXED ASSETS
Tangible assets	2		3,760		4,700

			3,760		4,700
CURRENT ASSETS
Stocks		139,236		-
Debtors		53,780		45,951
Cash at bank and in hand		88,104		205,416

		281,120		251,367
Creditors: Amounts Falling Due Within One Year		(72,437)		(50,756)

NET CURRENT ASSETS (LIABILITIES)			208,683		200,611

TOTAL ASSETS LESS CURRENT LIABILITIES			212,443		205,311

NET ASSETS			212,443		205,311

CAPITAL AND RESERVES
Called up share capital	3		100		100
Profit and Loss account			212,343		205,211

SHAREHOLDERS' FUNDS			212,443		205,311

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Switched On Electricians Ltd

Company No. 5667515

Abbreviated Balance Sheet (continued) 31 January 2015

For the year ending 31 January 2015 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

On behalf of the board

Mr Darren Vinall

28 October 2015

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Switched On Electricians Ltd

Notes to the Abbreviated Accounts

For The Year Ended 31 January 2015

Notes to the Abbreviated Accounts

Accounting Policies

Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% reducing balance
Motor Vehicles	20% reducing balance

Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

Tangible Assets


	Total
Cost	£
As at 1 February 2014	17,448

As at 31 January 2015	17,448

Depreciation
As at 1 February 2014	12,748
Provided during the period	940

As at 31 January 2015	13,688

Net Book Value
As at 31 January 2015	3,760

As at 1 February 2014	4,700

Share Capital

	Value	Number	2015	2014
Allotted, called up and fully paid:	£		£	£
Ordinary shares	1.000	100	100	100

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Switched On Electricians Ltd

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 January 2015

Transactions With and Loans to Directors

Included within Debtors / (Creditors) are the following loans from the directors:

	As at 1 February 2014	Amounts advanced	Amounts repaid	As at 31 January 2015
	£	£	£	£
Mr Darren Vinall	14,374	52,290	(67,500)	(836)
Mrs Julie Vinall	14,374	52,291	(67,500)	(835)

The above loans are unsecured, interest free and repayable on demand.

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