Bright Sparks I & D Electricians Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05090989 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

BRIGHT SPARKS INDUSTRIAL & DOMESTIC

ELECTRICIANS LIMITED

Page

Company Information

1

Chartered Certified Accountants' Report

2

Statement of Financial Position

3

to

4

Notes to the Financial Statements

5

to

7

DIRECTORS:

P J Garland

Mrs J M Garland

SECRETARY:

Mrs J M Garland

REGISTERED OFFICE:

Brent House

382 Gloucester Road

Cheltenham

Gloucestershire

GL51 7AY

REGISTERED NUMBER:

05090989 (England and Wales)

ACCOUNTANTS:

Smith Heath Limited

Brent House

382 Gloucester Road

Cheltenham

Gloucestershire

GL51 7AY

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bright Sparks Industrial & Domestic Electricians Limited for the year ended 31 March 2021 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Bright Sparks Industrial & Domestic Electricians Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bright Sparks Industrial & Domestic Electricians Limited and state those matters that we have agreed to state to the Board of Directors of Bright Sparks Industrial & Domestic Electricians Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Bright Sparks Industrial & Domestic Electricians Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bright Sparks Industrial & Domestic Electricians Limited. You consider that Bright Sparks Industrial & Domestic Electricians 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 financial statements of Bright Sparks Industrial & Domestic Electricians 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 financial statements.

Smith Heath Limited

Brent House

382 Gloucester Road

Cheltenham

Gloucestershire

GL51 7AY

13 December 2021

FIXED ASSETS

Intangible assets

4

14,400

19,200

Tangible assets

5

12,614

19,971

27,014

39,171

CURRENT ASSETS

Stocks

2,000

2,000

Debtors

6

18,788

8,314

Cash at bank and in hand

21,596

16,055

42,384

26,369

CREDITORS

Amounts falling due within one year

7

45,564

49,139

NET CURRENT LIABILITIES

(3,180

)

(22,770

)

TOTAL ASSETS LESS CURRENT LIABILITIES

23,834

16,401

PROVISIONS FOR LIABILITIES

2,397

3,794

NET ASSETS

21,437

12,607

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

21,435

12,605

SHAREHOLDERS' FUNDS

21,437

12,607

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 13 December 2021 and were signed on its behalf by:

P J Garland - Director

1.	STATUTORY INFORMATION

Bright Sparks Industrial & Domestic Electricians 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Acquired goodwill is written off in annual instalments over its estimated useful economic life of 5 years from 1 April 2019.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures, fittings and equipment

-

33% on cost

Motor vehicles

-

25% on cost

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 3 (2020 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

60,000

AMORTISATION

At 1 April 2020

40,800

Amortisation for year

4,800

At 31 March 2021

45,600

NET BOOK VALUE

At 31 March 2021

14,400

At 31 March 2020

19,200

5.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

Plant and

and

Motor

machinery

equipment

vehicles

Totals

£

£

£

£

COST

At 1 April 2020

3,519

2,043

29,992

35,554

Additions

-

500

-

500

At 31 March 2021

3,519

2,543

29,992

36,054

DEPRECIATION

At 1 April 2020

3,249

1,772

10,562

15,583

Charge for year

71

288

7,498

7,857

At 31 March 2021

3,320

2,060

18,060

23,440

NET BOOK VALUE

At 31 March 2021

199

483

11,932

12,614

At 31 March 2020

270

271

19,430

19,971

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

18,150

7,565

Other debtors

638

749

18,788

8,314

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

7,166

4,896

Taxation and social security

7,098

6,597

Other creditors

31,300

37,646

45,564

49,139

8.	RELATED PARTY DISCLOSURES

At 31 March 2021, an amount of £29,648 (2020 - £36,079) was due to P J Garland and Mrs J M Garland, directors of the company. The loan is interest free and repayable on demand.