OHM Electrical Services Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05818616 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

OHM ELECTRICAL SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

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:

NRB

1st Floor Waterside House

Waterside Drive

Wigan

Lancashire

WN3 5AZ

FIXED ASSETS

Tangible assets

4

32,813

11,800

CURRENT ASSETS

Stocks

58,559

24,500

Debtors

5

90,644

119,290

149,203

143,790

CREDITORS

Amounts falling due within one year

6

247,427

271,046

NET CURRENT LIABILITIES

(98,224

)

(127,256

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(65,411

)

(115,456

)

CREDITORS

Amounts falling due after more than one year

7

69,521

52,954

NET LIABILITIES

(134,932

)

(168,410

)

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

(134,934

)

(168,412

)

SHAREHOLDERS' FUNDS

(134,932

)

(168,410

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 17 January 2024 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2022

7,024

36,946

43,970

Additions

1,172

36,593

37,765

Disposals

-

(20,046

)

(20,046

)

At 31 March 2023

8,196

53,493

61,689

DEPRECIATION

At 1 April 2022

5,940

26,230

32,170

Charge for year

564

10,374

10,938

Eliminated on disposal

-

(14,232

)

(14,232

)

At 31 March 2023

6,504

22,372

28,876

NET BOOK VALUE

At 31 March 2023

1,692

31,121

32,813

At 31 March 2022

1,084

10,716

11,800

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

Motor

vehicles

£

COST

At 1 April 2022

36,946

Additions

36,593

Disposals

(20,046

)

At 31 March 2023

53,493

DEPRECIATION

At 1 April 2022

26,230

Charge for year

10,374

Eliminated on disposal

(14,232

)

At 31 March 2023

22,372

NET BOOK VALUE

At 31 March 2023

31,121

At 31 March 2022

10,716

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

42,923

77,946

Other debtors

47,721

41,344

90,644

119,290

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

26,596

28,424

Hire purchase contracts

7,659

-

Trade creditors

165,148

178,225

Taxation and social security

33,227

39,824

Other creditors

14,797

24,573

247,427

271,046

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

26,667

36,667

Hire purchase contracts

16,874

-

Other creditors

25,980

16,287

69,521

52,954

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

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 2023 and 31 March 2022:

31.3.23

31.3.22

£

£

Mr N Haughton and Mrs H Haughton

Balance outstanding at start of year

19,256

36,786

Amounts advanced

3,505

470

Amounts repaid

-

(18,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

22,761

19,256