C S Electrical Essex Limited Filleted accounts for Companies House (small and micro)

C S ELECTRICAL ESSEX LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04348677

C S Electrical Essex Limited

Filleted Unaudited Financial Statements

31 March 2023

C S Electrical Essex Limited

Statement of Financial Position

31 March 2023

	2023		2022
Note	£	£	£	£

Fixed assets

Tangible assets	5		14,217		19,412

Current assets

Stocks		800	800
Debtors	6	24,983	34,791
Cash at bank and in hand		26,450	18,845
		--------	--------
		52,233	54,436

Creditors: amounts falling due within one year	7	34,035		38,538
		--------		--------
Net current assets			18,198		15,898
			--------		--------
Total assets less current liabilities			32,415		35,310

Provisions

Taxation including deferred tax	2,701	3,688
	--------	--------
Net assets	29,714	31,622
	--------	--------

Capital and reserves

Called up share capital	8	100	100
Profit and loss account		29,614	31,522
		--------	--------
Shareholders funds		29,714	31,622
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31st March 2023 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 of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

C S Electrical Essex Limited

Statement of Financial Position (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 10 October 2023 , and are signed on behalf of the board by:

Mr. C S Pearce	Mrs. L Pearce
Director	Director

Company registration number: 04348677

C S Electrical Essex Limited

Notes to the Financial Statements

Year ended 31st March 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 OAW.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Tools	-	25% straight line
Motor Vehicles	-	25% straight line
Computers & Equipment	-	33 % straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1st April 2022	1,235	39,088	4,339	44,662
Additions	–	–	1,409	1,409
	-------	--------	-------	--------
At 31st March 2023	1,235	39,088	5,748	46,071
	-------	--------	-------	--------
Depreciation
At 1st April 2022	1,078	21,348	2,824	25,250
Charge for the year	72	5,852	680	6,604
	-------	--------	-------	--------
At 31st March 2023	1,150	27,200	3,504	31,854
	-------	--------	-------	--------
Carrying amount
At 31st March 2023	85	11,888	2,244	14,217
	-------	--------	-------	--------
At 31st March 2022	157	17,740	1,515	19,412
	-------	--------	-------	--------

6. Debtors

	2023	2022
	£	£
Trade debtors	23,565	34,223
Prepayments and accrued income	1,418	568
	--------	--------
	24,983	34,791
	--------	--------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	8,587	11,648
Corporation tax	9,002	5,023
Director loan accounts	2,429	8,742
Other taxes and social security	14,017	13,125
	--------	--------
	34,035	38,538
	--------	--------

8. Called up share capital

Issued, called up and fully paid

	2023		2022
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

9. Related party transactions

	Loans repaid/ (additional loans)	Balance at 31 March Dr/(Cr)
	£	£
Directors
31 March 2023	(6,313)	(2,429)
31 March 2022	(5,688)	(8,742)