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REGISTERED NUMBER: 11977939 (England and Wales)















Circuit Breaker Specialists Limited

Unaudited Financial Statements for the Year Ended 31 May 2023






Circuit Breaker Specialists Limited (Registered number: 11977939)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Circuit Breaker Specialists Limited

Company Information
for the Year Ended 31 May 2023







Directors: Deborah Farley
Philip Brian Farley





Registered office: Maesteg
Llaneilian
Amlwch
Anglesey
LL68 9LR





Registered number: 11977939 (England and Wales)





Accountants: Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Circuit Breaker Specialists Limited

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 Directors' Report 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 Circuit Breaker Specialists Limited for the year ended 31 May 2023 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 Circuit Breaker Specialists 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 Circuit Breaker Specialists Limited and state those matters that we have agreed to state to the Board of Directors of Circuit Breaker Specialists 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 Circuit Breaker Specialists 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 Circuit Breaker Specialists Limited. You consider that Circuit Breaker Specialists 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 Circuit Breaker Specialists 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.






Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY


22 November 2023

Circuit Breaker Specialists Limited (Registered number: 11977939)

Statement of Financial Position
31 May 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 38,000 38,000
Tangible assets 5 64,045 9,566
102,045 47,566

Current assets
Stocks 42,000 37,500
Debtors 6 657 715
Cash at bank 27,530 12,710
70,187 50,925
Creditors
Amounts falling due within one year 7 139,886 85,129
Net current liabilities (69,699 ) (34,204 )
Total assets less current liabilities 32,346 13,362

Provisions for liabilities 9 3,722 2,535
Net assets 28,624 10,827

Capital and reserves
Called up share capital 10 100 100
Retained earnings 28,524 10,727
Shareholders' funds 28,624 10,827

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

Circuit Breaker Specialists Limited (Registered number: 11977939)

Statement of Financial Position - continued
31 May 2023


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 22 November 2023 and were signed on its behalf by:





Philip Brian Farley - Director


Circuit Breaker Specialists Limited (Registered number: 11977939)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. Statutory information

Circuit Breaker Specialists 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 represents the consideration received in respect of the sale of online electrical consumables during the year net of Value Added Tax.

Goodwill
Amortisation of goodwill has not been provided for by the company as in the opinion of the directors it has an indefinite useful economic life. This accounting policy departs from the requirements of FRS 102 to amortise goodwill over a finite period. The effect of the departure is that amortisation as required by the requirements of FRS 102 has not been accounted for. If amortisation had been accounted for the charge for the year would have been £3,800 and the profit for the year reduced accordingly.

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 - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Stocks
Stocks are measured at estimated cost.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.


Circuit Breaker Specialists Limited (Registered number: 11977939)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. Accounting policies - continued
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting year . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year.

Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting 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.

3. Employees and directors

The average number of employees during the year was 5 (2022 - 5 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 June 2022
and 31 May 2023 38,000
Net book value
At 31 May 2023 38,000
At 31 May 2022 38,000

Circuit Breaker Specialists Limited (Registered number: 11977939)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. Tangible fixed assets
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
Cost
At 1 June 2022 - 9,410 7,202 16,612
Additions 50,000 4,750 2,499 57,249
At 31 May 2023 50,000 14,160 9,701 73,861
Depreciation
At 1 June 2022 - 3,633 3,413 7,046
Charge for year - 1,512 1,258 2,770
At 31 May 2023 - 5,145 4,671 9,816
Net book value
At 31 May 2023 50,000 9,015 5,030 64,045
At 31 May 2022 - 5,777 3,789 9,566

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Other debtors 657 715

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 9,702 5,209
Taxation and social security 23,442 16,128
Other creditors 106,742 63,792
139,886 85,129

8. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 4,526 3,291
Between one and five years 8,297 -
12,823 3,291

Circuit Breaker Specialists Limited (Registered number: 11977939)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

9. Provisions for liabilities
2023 2022
£    £   
Deferred tax 3,722 2,535

Deferred
tax
£   
Balance at 1 June 2022 2,535
Provided during year 1,187
Balance at 31 May 2023 3,722

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 ORDINARY 1 100 100