Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31No description of principal activity2022-04-01false6355truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04600297 2022-04-01 2023-03-31 04600297 2021-04-01 2022-03-31 04600297 2023-03-31 04600297 2022-03-31 04600297 2021-04-01 04600297 c:Director1 2022-04-01 2023-03-31 04600297 d:Buildings 2022-04-01 2023-03-31 04600297 d:Buildings 2023-03-31 04600297 d:Buildings 2022-03-31 04600297 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04600297 d:Buildings d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 04600297 d:LandBuildings 2023-03-31 04600297 d:LandBuildings 2022-03-31 04600297 d:PlantMachinery 2022-04-01 2023-03-31 04600297 d:PlantMachinery 2023-03-31 04600297 d:PlantMachinery 2022-03-31 04600297 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04600297 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 04600297 d:MotorVehicles 2022-04-01 2023-03-31 04600297 d:MotorVehicles 2023-03-31 04600297 d:MotorVehicles 2022-03-31 04600297 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04600297 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 04600297 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04600297 d:LeasedAssetsHeldAsLessee 2022-04-01 2023-03-31 04600297 d:CurrentFinancialInstruments 2023-03-31 04600297 d:CurrentFinancialInstruments 2022-03-31 04600297 d:Non-currentFinancialInstruments 2023-03-31 04600297 d:Non-currentFinancialInstruments 2022-03-31 04600297 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04600297 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 04600297 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 04600297 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 04600297 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 04600297 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 04600297 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 04600297 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 04600297 d:ShareCapital 2023-03-31 04600297 d:ShareCapital 2022-03-31 04600297 d:ShareCapital 2021-04-01 04600297 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 04600297 d:RetainedEarningsAccumulatedLosses 2023-03-31 04600297 d:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 04600297 d:RetainedEarningsAccumulatedLosses 2022-03-31 04600297 d:RetainedEarningsAccumulatedLosses 2021-04-01 04600297 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 04600297 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 04600297 c:OrdinaryShareClass1 2022-04-01 2023-03-31 04600297 c:OrdinaryShareClass1 2023-03-31 04600297 c:OrdinaryShareClass1 2022-03-31 04600297 c:FRS102 2022-04-01 2023-03-31 04600297 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 04600297 c:FullAccounts 2022-04-01 2023-03-31 04600297 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04600297 d:Subsidiary1 2022-04-01 2023-03-31 04600297 d:Subsidiary1 1 2022-04-01 2023-03-31 04600297 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:ListedExchangeTraded 2023-03-31 04600297 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:ListedExchangeTraded 2022-03-31 04600297 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 04600297 d:HirePurchaseContracts d:WithinOneYear 2022-03-31 04600297 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 04600297 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-03-31 04600297 6 2022-04-01 2023-03-31 04600297 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 04600297 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-03-31 04600297 d:LeasedAssetsHeldAsLessee 2023-03-31 04600297 d:LeasedAssetsHeldAsLessee 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number:  04600297














AB BUILDING & ELECTRICAL LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


 
AB BUILDING & ELECTRICAL LIMITED
REGISTERED NUMBER: 04600297

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 3 
525,374
427,714

Investments
 4 
100
100

  
525,474
427,814

Current assets
  

Stocks
 5 
24,750
21,150

Debtors: amounts falling due within one year
 6 
1,875,845
1,503,033

Cash at bank and in hand
 7 
1,506,722
820,144

  
3,407,317
2,344,327

Creditors: amounts falling due within one year
 8 
(2,018,163)
(1,263,662)

Net current assets
  
 
 
1,389,154
 
 
1,080,665

Total assets less current liabilities
  
1,914,628
1,508,479

Creditors: amounts falling due after more than one year
 9 
(62,372)
(58,865)

Provisions for liabilities
  

Deferred tax
  
(42,100)
(41,100)

  
 
 
(42,100)
 
 
(41,100)

Net assets
  
1,810,156
1,408,514


Capital and reserves
  

Called up share capital 
 13 
30
30

Profit and loss account
 14 
1,810,126
1,408,484

  
1,810,156
1,408,514


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Page 1

 
AB BUILDING & ELECTRICAL LIMITED
REGISTERED NUMBER: 04600297
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023


The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 November 2023.




D Batterton
Director

The notes on pages 4 to 14 form part of these financial statements.

Page 2

 
AB BUILDING & ELECTRICAL LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 April 2022
30
1,408,484
1,408,514



Profit for the year
-
534,712
534,712

Dividends: Equity capital
-
(133,070)
(133,070)


At 31 March 2023
30
1,810,126
1,810,156


The notes on pages 4 to 14 form part of these financial statements.


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 April 2021
30
1,374,157
1,374,187



Profit for the year
-
166,552
166,552

Dividends: Equity capital
-
(132,225)
(132,225)


At 31 March 2022
30
1,408,484
1,408,514


The notes on pages 4 to 14 form part of these financial statements.

Page 3

 
AB BUILDING & ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

AB Building & Electrical Limited is a private limited company, limited by shares, incorporated in England and Wales.  Its registered office is Commercial Hotel, 3 Page Lane, Widnes, Cheshire WA8 0AE.  The company number is 04600297.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
AB BUILDING & ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
AB BUILDING & ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as below.

Depreciation is provided on the following basis:

S/Term Leasehold Property
-
20% on cost
Plant & machinery
-
33% on cost and 25% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 6

 
AB BUILDING & ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.



 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 
Page 7

 
AB BUILDING & ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)


Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 8

 
AB BUILDING & ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Tangible fixed assets





Freehold property
Plant & machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 April 2022
289,421
72,613
380,906
742,940


Additions
30,347
-
168,500
198,847


Disposals
-
-
(26,250)
(26,250)



At 31 March 2023

319,768
72,613
523,156
915,537



Depreciation


At 1 April 2022
-
62,382
252,844
315,226


Charge for the year on owned assets
-
5,986
52,045
58,031


Charge for the year on financed assets
-
-
43,157
43,157


Disposals
-
-
(26,250)
(26,250)



At 31 March 2023

-
68,368
321,796
390,164



Net book value



At 31 March 2023
319,768
4,245
201,360
525,373



At 31 March 2022
289,421
10,230
128,063
427,714




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold
319,767
289,421

319,767
289,421


Page 9

 
AB BUILDING & ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

           3.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
102,632
77,811

102,632
77,811


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
100



At 31 March 2023
100





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Class of shares

Holding

A to Be Electrical Services Limited
Ordinary
100%

Page 10

 
AB BUILDING & ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Stocks

2023
2022
£
£

Raw materials and consumables
24,750
21,150

24,750
21,150



6.


Debtors

2023
2022
£
£


Trade debtors
1,231,906
925,408

Other debtors
603,193
519,193

Prepayments
40,746
58,432

1,875,845
1,503,033



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,506,722
820,144

1,506,722
820,144


Page 11

 
AB BUILDING & ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
9,935
9,707

Trade creditors
1,116,842
744,717

Corporation tax
130,827
19,716

Other taxation and social security
404,825
358,752

Obligations under finance lease and hire purchase contracts
21,164
20,757

Other creditors
17,834
19,680

Accruals and deferred income
316,736
90,333

2,018,163
1,263,662


Loans and hire purchase liabilities are secured upon the assets to which they relate.


9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
22,420
32,387

Net obligations under finance leases and hire purchase contracts
39,952
26,478

62,372
58,865


Loans and hire purchase liabilities are secured upon the assets to which they relate.


10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
9,935
9,707

Amounts falling due 1-2 years

Bank loans
10,193
9,952

Amounts falling due 2-5 years

Bank loans
12,226
22,435


32,354
42,094


Page 12

 
AB BUILDING & ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
26,891
22,652

Between 1-5 years
44,752
28,124

71,643
50,776


12.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
1,506,722
820,144

Financial assets that are debt instruments measured at amortised cost
1,835,099
1,444,602

3,341,821
2,264,746


Financial liabilities


Financial liabilities measured at amortised cost
(1,230,936)
(813,491)


Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.
Financial assets that are debt instruments measured at amortised cost comprise of trade and other debtors.
Financial liabilities measured at amortised cost comprise of trade creditors, other creditors, bank loans and accruals.


13.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



30 (2022 - 30) Ordinary shares of £1.00 each
30
30


Page 13

 
AB BUILDING & ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

14.


Reserves

Profit & loss account

Includes all current and prior period retained profits and losses.


15.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £174,712 (2022: £138,278). Contributions totalling £9,689 (2022: £6,945) were payable to the fund at the balance sheet date.


16.


Ultimate controlling party

The company is controlled by its directors.

Page 14