WJ Electrical Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09403513 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

WJ Electrical Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

W A Jeeves

REGISTERED OFFICE:

Castle Farm Barn North

Denmead Road

Southwick

Fareham

Hampshire

PO17 6EX

REGISTERED NUMBER:

09403513 (England and Wales)

ACCOUNTANTS:

KT Accountants Limited

Castle Farm Barn North

Denmead Road

Southwick

Hampshire

PO17 6EX

FIXED ASSETS

Tangible assets

4

10,337

13,785

CURRENT ASSETS

Debtors

5

12,683

7,708

Cash at bank

13,391

9,111

26,074

16,819

CREDITORS

Amounts falling due within one year

6

16,704

11,189

NET CURRENT ASSETS

9,370

5,630

TOTAL ASSETS LESS CURRENT LIABILITIES

19,707

19,415

CREDITORS

Amounts falling due after more than one year

7

(9,554

)

(12,943

)

PROVISIONS FOR LIABILITIES

(1,964

)

(2,619

)

NET ASSETS

8,189

3,853

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

8,089

3,753

SHAREHOLDERS' FUNDS

8,189

3,853

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 September 2020 and were signed by:

W A Jeeves - Director

1.	STATUTORY INFORMATION

WJ Electrical 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.

Plant and machinery etc

-

25% on reducing balance

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 2 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

and 31 March 2020

19,063

DEPRECIATION

At 1 April 2019

5,278

Charge for year

3,448

At 31 March 2020

8,726

NET BOOK VALUE

At 31 March 2020

10,337

At 31 March 2019

13,785

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

follows:

Plant and

machinery

etc

£

COST

At 1 April 2019

and 31 March 2020

17,440

DEPRECIATION

At 1 April 2019

4,360

Charge for year

3,270

At 31 March 2020

7,630

NET BOOK VALUE

At 31 March 2020

9,810

At 31 March 2019

13,080

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

5,444

2,806

Other debtors

7,239

4,902

12,683

7,708

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

3,389

3,224

Taxation and social security

12,226

5,547

Other creditors

1,089

2,418

16,704

11,189

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

9,554

12,943

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.20

31.3.19

value:

£

£

100

Ordinary

£1

100

100

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended

31 March 2020 and 31 March 2019:

31.3.20

31.3.19

£

£

W A Jeeves

Balance outstanding at start of year

(20

)

(717

)

Amounts advanced

(820

)

697

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(840

)

(20

)

The directors loan account balance is undated, unsecured, interest free and repayable on

demand.