Company registration number 4817719 (England and Wales)
CS ELECTRICAL (ELECTRICAL CONTRACTORS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022
PAGES FOR FILING WITH REGISTRAR
CS ELECTRICAL (ELECTRICAL CONTRACTORS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
CS ELECTRICAL (ELECTRICAL CONTRACTORS) LIMITED
BALANCE SHEET
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
264,683
278,853
Current assets
Stocks
1,200
500
Debtors
4
167,227
199,913
Cash at bank and in hand
49,787
64,262
218,214
264,675
Creditors: amounts falling due within one year
5
(324,863)
(355,065)
Net current liabilities
(106,649)
(90,390)
Total assets less current liabilities
158,034
188,463
Creditors: amounts falling due after more than one year
6
(30,916)
(41,435)
Provisions for liabilities
(10,520)
Net assets
116,598
147,028
Capital and reserves
Called up share capital
101
101
Capital redemption reserve
55
55
Profit and loss reserves
116,442
146,872
Total equity
116,598
147,028
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
CS ELECTRICAL (ELECTRICAL CONTRACTORS) LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 22 December 2022
Mr N D Fribbence
Director
Company Registration No. 4817719
CS ELECTRICAL (ELECTRICAL CONTRACTORS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022
- 3 -
1
Accounting policies
Company information
CS Electrical (Electrical Contractors) Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
3-4 Bower Terrace, Tonbridge Road, Maidstone, Kent, ME16 8RY. The principal place of business is Lewis Mews, Malling Road, Snodland, Kent, ME6 5LN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents revenue earned under a wide variety of contracts to provide services. Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost, net of depreciation
.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold buildings
10% straight line
Plant and equipment
25% reducing balance
Computers
25% reducing balance
Motor vehicles
25% reducing balance
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price
.
1.5
Financial instruments
The company has elected to apply the
recognition and measurement
provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include
debtors
and cash and bank balances, are measured at transaction price including transaction costs
.
Basic financial liabilities
Basic financial liabilities, including
creditors and
bank loans
,
are recognised at transaction price
.
CS ELECTRICAL (ELECTRICAL CONTRACTORS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2022
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation
The tax expense represents the sum of the tax currently payable
or receivable
and deferred tax.
Current tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Government grants
Government grants are recognised as income at the amount received or receivable when there is reasonable assurance that the grant conditions will be met and the grant will be received. Grants under the Coronavirus Job Retention Scheme are recognised over the periods in which the related costs are incurred.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
5
3
CS ELECTRICAL (ELECTRICAL CONTRACTORS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2022
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 June 2021
225,153
70,780
295,933
Additions
2,467
2,467
At 31 May 2022
225,153
73,247
298,400
Depreciation and impairment
At 1 June 2021
17,080
17,080
Depreciation charged in the year
3,000
13,637
16,637
At 31 May 2022
3,000
30,717
33,717
Carrying amount
At 31 May 2022
222,153
42,530
264,683
At 31 May 2021
225,153
53,700
278,853
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
130,075
127,645
Other debtors
37,152
72,268
167,227
199,913
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
10,254
59,384
Trade creditors
171,084
135,090
Taxation and social security
20,417
37,306
Other creditors
123,108
123,285
324,863
355,065
Other creditors includes £
42,258
(202
1
- £
42,294
) owed to the director and
his wife
.
CS ELECTRICAL (ELECTRICAL CONTRACTORS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2022
- 6 -
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans
30,916
41,435
Bank borrowings are secured by way of a fixed and floating charge over the assets of the company
.