Company registration number 09688129 (England and Wales)
CMA ELECTRICAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022
PAGES FOR FILING WITH REGISTRAR
CMA ELECTRICAL LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CMA ELECTRICAL LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2022
31 October 2022
- 1 -
2022
2021
Notes
£
£
£
£
Current assets
Debtors
3
15,157
22,776
Cash at bank and in hand
701
2,991
15,858
25,767
Creditors: amounts falling due within one year
4
(969)
(5,169)
Net current assets
14,889
20,598
Creditors: amounts falling due after more than one year
5
(14,384)
(14,000)
Net assets
505
6,598
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
405
6,498
Total equity
505
6,598
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 October 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.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 22 October 2023
Mr P Noone
Director
Company Registration No. 09688129
CMA ELECTRICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022
- 2 -
1
Accounting policies
Company information
CMA Electrical Limited is a private company limited by shares incorporated in England and Wales. The registered office is 64 High Street, Carrville, Durham, County Durham, England, DH1 1AT.
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. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT.
Revenue from the sale of goods is recognised upon delivery.
Revenue from contracts for the provision of professional services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract.
1.3
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
1.5
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the balance sheet date.
CMA ELECTRICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
1
Accounting policies
(Continued)
- 3 -
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 0 (2021 - 1).
2022
2021
Number
Number
Total
1
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
1
Other debtors
15,157
22,775
15,157
22,776
4
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
150
150
Corporation tax
76
4,276
Other taxation and social security
743
743
969
5,169
5
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
14,384
14,000
CMA ELECTRICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
- 4 -
6
Directors' transactions
Loans have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Loan
2.50
21,442
1,750
519
(10,213)
13,498
21,442
1,750
519
(10,213)
13,498