Delta Electrical Repairs Limited - Period Ending 2014-12-31

Registration number: 01770708

Delta Electrical Repairs Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

MacMahon Leggate Chartered Accountants Charter House 18-20 Finsley Gate Burnley BB11 2HA

Delta Electrical Repairs Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Delta Electrical Repairs Limited
for the Year Ended 31 December 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Delta Electrical Repairs Limited for the year ended 31 December 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Delta Electrical Repairs Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Delta Electrical Repairs Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Delta Electrical Repairs Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Delta Electrical Repairs Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Delta Electrical Repairs Limited. You consider that Delta Electrical Repairs Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Delta Electrical Repairs Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MacMahon Leggate
Chartered Accountants
Charter House
18-20 Finsley Gate
Burnley
Lancashire
BB11 2HA

26 January 2015

Page 1

Delta Electrical Repairs Limited
(Registration number: 01770708)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					205,376			205,886
Current assets
Stocks					58,200			48,950
Debtors					529,576			512,987
Cash at bank and in hand					334,316			397,226
					922,092			959,163
Creditors: Amounts falling due within one year					(218,529)			(253,970)
Net current assets					703,563			705,193
Total assets less current liabilities					908,939			911,079
Provisions for liabilities					(21,601)			(20,616)
Net assets					887,338			890,463
Capital and reserves
Called up share capital		3			1,500			1,500
Profit and loss account					885,838			888,963
Shareholders' funds					887,338			890,463

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

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 accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 26 January 2015 and signed on its behalf by:

.........................................
Mr M Burian
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Delta Electrical Repairs Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% reducing balance
Fixtures and fittings	15% reducing balance
Motor vehicles	25% reducing balance

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Delta Electrical Repairs Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2014		455,408			455,408
Additions		37,804			37,804
Disposals		(14,035)			(14,035)
At 31 December 2014		479,177			479,177
Depreciation
At 1 January 2014		249,522			249,522
Charge for the year		34,814			34,814
Eliminated on disposals		(10,535)			(10,535)
At 31 December 2014		273,801			273,801
Net book value
At 31 December 2014		205,376			205,376
At 31 December 2013		205,886			205,886

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		1,500			1,500			1,500			1,500

4	Related party transactions

Directors' advances and credits

	2014 Advance/ Credit £	2014 Repaid £	2013 Advance/ Credit £	2013 Repaid £
Mr M Burian
Interest free loan subject to Section 445 charge	48,083	8,648	56,730	-
	-	-	-	-
	48,083	8,648	56,730	-
Mrs J L Burian

Page 4

Delta Electrical Repairs Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

Interest free loan subject to Section 445 charge	48,083	8,648	56,730	-

Page 5