REGISTERED NUMBER: |
Strategic Report, Report of the Directors and |
Financial Statements |
For The Year Ended 31 October 2023 |
for |
C.F. Roberts (Electrical Contractors) |
Limited |
REGISTERED NUMBER: |
Strategic Report, Report of the Directors and |
Financial Statements |
For The Year Ended 31 October 2023 |
for |
C.F. Roberts (Electrical Contractors) |
Limited |
C.F. Roberts (Electrical Contractors) |
Limited (Registered number: 03146195) |
Contents of the Financial Statements |
For The Year Ended 31 October 2023 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 3 |
Report of the Independent Auditors | 5 |
Income Statement | 8 |
Other Comprehensive Income | 9 |
Balance Sheet | 10 |
Statement of Changes in Equity | 11 |
Notes to the Financial Statements | 12 |
C.F. Roberts (Electrical Contractors) |
Limited |
Company Information |
For The Year Ended 31 October 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
and Statutory Auditor |
Goodridge Court |
Goodridge Avenue |
Gloucester |
Gloucestershire |
GL2 5EN |
C.F. Roberts (Electrical Contractors) |
Limited (Registered number: 03146195) |
Strategic Report |
For The Year Ended 31 October 2023 |
The directors present their strategic report for the year ended 31 October 2023. |
REVIEW OF BUSINESS |
The principle activity of the company in the year under review was that of the provider of electrical and mechanical design, installation and maintenance services. |
The company's key financial indicators were considered to be Turnover, Gross Profit and Profit before Tax which are detailed on the income statement. |
The company has continued to secure repeat business from loyal and valued clients while also expanding into new sectors that offer exciting opportunities for growth. The company's proven track record of impeccable customer service and reliable front-end performance has contributed to this success and will help ensure that these opportunities are both protected and maximized to their full potential. |
The senior management team's addition of Justin Wolvin in April 2023, who has a track record of impressive results in the sector, further demonstrates the company's commitment to progress. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The directors have assessed the possible risks facing the company over the next twelve months. The main risk factors include continuing international and UK economic uncertainty and its effect on the supply chain. |
The directors believe that focusing on customer service, retaining a lean business model and utilising multiple suppliers will mitigate the possible risks caused by the economic uncertainty, and will also provide continued growth and satisfactory trading results in the future. |
While general trading will always remain competitive, the diversity of the company's contracting portfolio, as well as expanding the customer/supplier base, helps manage any exposure to a downturn in any one area. The Board of Directors continually reviewed market conditions to assess both risks and opportunities that the company faces. |
The company trades with high profile customers who have strong credit ratings in the industry and as such the directors do not believe that the company is significantly adversely exposed in respect of sales made since the year end date. |
The directors believe that the company's financial resources will be sufficient to trade for the foreseeable future. The directors will continue to monitor the company's activities and pipeline and act appropriately. |
ON BEHALF OF THE BOARD: |
C.F. Roberts (Electrical Contractors) |
Limited (Registered number: 03146195) |
Report of the Directors |
For The Year Ended 31 October 2023 |
The directors present their report with the financial statements of the company for the year ended 31 October 2023. |
DIVIDENDS |
No dividends will be distributed for the year ended 31 October 2023. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 November 2022 to the date of this report. |
Other changes in directors holding office are as follows: |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
C.F. Roberts (Electrical Contractors) |
Limited (Registered number: 03146195) |
Report of the Directors |
For The Year Ended 31 October 2023 |
AUDITORS |
The auditors, Kingscott Dix Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
C.F. Roberts (Electrical Contractors) |
Limited |
Opinion |
We have audited the financial statements of C.F. Roberts (Electrical Contractors) Limited (the 'company') for the year ended 31 October 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 31 October 2023 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Report of the Independent Auditors to the Members of |
C.F. Roberts (Electrical Contractors) |
Limited |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
In assigning the audit engagement team we ensured that collectively they had the appropriate competence and capabilities to identify non-compliance with laws and regulations, highlight areas of the financial statements particularly susceptible to fraud and conduct appropriate additional enquiries where suspicions or weaknesses became evident. |
At the planning stage, we assessed the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur. This involved preliminary planning discussions with management to obtain their assessment of fraud risk, to identify any incidences of fraud during the year and understand the measures and controls they had taken to combat the possibility of fraud. |
Our transaction testing and assessment of controls during the audit provided further evidence as to the validity of this initial assessment with regard to material misstatement and fraud. |
We identified areas of law and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the Directors, and inspection of the Company's regulatory and legal correspondence. The team were briefed with regard to laws and regulations and remained alert to any indication of non-compliance throughout the audit. |
Report of the Independent Auditors to the Members of |
C.F. Roberts (Electrical Contractors) |
Limited |
The company is subject to laws and regulations that directly affect the financial statements including legislation covering financial reporting including related companies, distributable profits and taxation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. In assessing this compliance, we evaluated the appropriateness of accounting policies used and the reasonableness of accounting estimates in the measurement and presentation of profit within the financial statements. |
The company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: The Electricity at Work Regulations 1989, The Building Act 2000, health and safety, safe working practices, provision & use of work equipment regulations, employment laws, GDPR and environmental laws and regulations recognising the nature of the company's activities. Audit procedures designed to identify non-compliance with these laws and regulations included enquiry of the Directors and other management and inspection of regulatory and legal correspondence. None of the procedures applied identified actual or suspected non-compliance. |
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. Where an irregularity is non-financial or has not reached a stage where its impact is financial, it is less likely to be identified by auditing procedures. In addition, to the extent that an irregularity involves collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls, there remains a high risk of non-detection. We are not responsible for detecting all instances of non-compliance with laws and regulations and cannot be expected to do so. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants |
and Statutory Auditor |
Goodridge Court |
Goodridge Avenue |
Gloucester |
Gloucestershire |
GL2 5EN |
C.F. Roberts (Electrical Contractors) |
Limited (Registered number: 03146195) |
Income Statement |
For The Year Ended 31 October 2023 |
31.10.23 | 31.10.22 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
36,512 | (704,267 | ) |
Other operating income |
OPERATING PROFIT | 4 |
Write back group loan | 5 |
252,222 | 427,075 |
Interest receivable and similar income |
PROFIT BEFORE TAXATION |
Tax on profit | 6 | ( |
) |
PROFIT FOR THE FINANCIAL YEAR |
C.F. Roberts (Electrical Contractors) |
Limited (Registered number: 03146195) |
Other Comprehensive Income |
For The Year Ended 31 October 2023 |
31.10.23 | 31.10.22 |
Notes | £ | £ |
PROFIT FOR THE YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
C.F. Roberts (Electrical Contractors) |
Limited (Registered number: 03146195) |
Balance Sheet |
31 October 2023 |
31.10.23 | 31.10.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Stocks | 8 |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Retained earnings | 13 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
C.F. Roberts (Electrical Contractors) |
Limited (Registered number: 03146195) |
Statement of Changes in Equity |
For The Year Ended 31 October 2023 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 November 2021 |
Changes in equity |
Total comprehensive income | - |
Balance at 31 October 2022 |
Changes in equity |
Total comprehensive income | - |
Balance at 31 October 2023 |
C.F. Roberts (Electrical Contractors) |
Limited (Registered number: 03146195) |
Notes to the Financial Statements |
For The Year Ended 31 October 2023 |
1. | STATUTORY INFORMATION |
C.F. Roberts (Electrical Contractors) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Financial Reporting Standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
• | the requirements of Section 7 Statement of Cash Flows; |
• | the requirement of paragraph 33.7. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
C.F. Roberts (Electrical Contractors) |
Limited (Registered number: 03146195) |
Notes to the Financial Statements - continued |
For The Year Ended 31 October 2023 |
2. | ACCOUNTING POLICIES - continued |
Turnover |
Turnover comprises the fair value of consideration received or receivable for the sale of goods and proviso of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts. |
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimate reliably, revenue is recognised only to the extent of the expenses recognised that it is probably will be recovered. |
Long term contracts |
Amounts recoverable on long term contracts which are in included in debtors are stated at the net sales value of work done less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account. |
Retentions |
Retentions are recognised as turnover as part of the revenue receivable on the contract to the extent that the balance is considered recoverable but provision is made again such balances where they are deemed irrecoverable. Where the retention is receivable after more than one year, they are disclosed as such within the notes to the financial statements. Where costs are deemed to be necessary to enable the recovery of the retention, these costs are provided in full. |
Rent received |
Rent received represents rental income from the sub-let of property rented. The Company recognises such revenue on an accruals basis. |
Other management recharges |
Management charges payable by related parties are recognised on an accruals basis and represent the recharge at commercial rate of the expenditure incurred in respect of the service received. |
Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
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: |
Leasehold improvements | - 10% straight line |
Plant and equipment | - 25% straight line |
Computer equipment | - 25% straight line |
Motor vehicles | - 25% straight line |
Government grants |
Government grants are recognised on an accruals basis and are measured at the fair value of the asset received or receivable. The Grants are revenue based awards and are recognised as income in the period in which the related costs are incurred. The element of a grant that is deferred to future periods is presented as deferred income on the balance sheet. |
C.F. Roberts (Electrical Contractors) |
Limited (Registered number: 03146195) |
Notes to the Financial Statements - continued |
For The Year Ended 31 October 2023 |
2. | ACCOUNTING POLICIES - continued |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
C.F. Roberts (Electrical Contractors) |
Limited (Registered number: 03146195) |
Notes to the Financial Statements - continued |
For The Year Ended 31 October 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has elected to apply the 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. |
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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. |
Cash and cash equivalents |
Cash and cash equivalents include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
Other financial assets |
Other financial assets are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment. |
Impairment of financial assets |
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss. |
Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Basic financial liabilities |
Basic financial liabilities, including trade, other creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
C.F. Roberts (Electrical Contractors) |
Limited (Registered number: 03146195) |
Notes to the Financial Statements - continued |
For The Year Ended 31 October 2023 |
2. | ACCOUNTING POLICIES - continued |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Derecognition of financial liabilities |
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Leasing commitments |
Rentals received under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
C.F. Roberts (Electrical Contractors) |
Limited (Registered number: 03146195) |
Notes to the Financial Statements - continued |
For The Year Ended 31 October 2023 |
3. | EMPLOYEES AND DIRECTORS |
31.10.23 | 31.10.22 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
31.10.23 | 31.10.22 |
Directors | 6 | 5 |
Admin and support | 60 | 64 |
Engineers | 61 | 65 |
31.10.23 | 31.10.22 |
£ | £ |
Directors' remuneration |
Directors' pension contributions to money purchase schemes |
The number of directors to whom retirement benefits were accruing was as follows: |
Money purchase schemes |
Information regarding the highest paid director is as follows: |
31.10.23 | 31.10.22 |
£ | £ |
Emoluments etc |
Pension contributions to money purchase schemes |
4. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
31.10.23 | 31.10.22 |
£ | £ |
Operating lease income | ( |
) | ( |
) |
Depreciation - owned assets |
Profit on disposal of fixed assets | ( |
) | ( |
) |
Auditors' remuneration |
Operating lease expense - property |
Operating lease expense - other |
Research and development expenditure |
Grant income in respect of research and development |
C.F. Roberts (Electrical Contractors) |
Limited (Registered number: 03146195) |
Notes to the Financial Statements - continued |
For The Year Ended 31 October 2023 |
5. | EXCEPTIONAL ITEMS |
31.10.23 | 31.10.22 |
£ | £ |
Write back group loan | ( |
) |
6. | TAXATION |
Analysis of the tax credit |
The tax credit on the profit for the year was as follows: |
31.10.23 | 31.10.22 |
£ | £ |
Current tax: |
Prior year adjustment | - | 1,571 |
Deferred tax | ( |
) |
Tax on profit | ( |
) |
UK corporation tax was charged at 19%) in 2022. |
Reconciliation of total tax credit included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
31.10.23 | 31.10.22 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of (2022 - |
Effects of: |
Expenses not deductible for tax purposes |
Income not taxable for tax purposes | ( |
) | ( |
) |
Adjustments to tax charge in respect of previous periods |
Movement on unprovided deferred tax | (6,965 | ) | (8,247 | ) |
Superdeduction | - | (9,716 | ) |
R&D credit relief | (63,967 | ) | - |
Group relief | 82,604 | - |
Total tax credit | - | (129,999 | ) |
C.F. Roberts (Electrical Contractors) |
Limited (Registered number: 03146195) |
Notes to the Financial Statements - continued |
For The Year Ended 31 October 2023 |
7. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 November 2022 |
Additions |
Disposals |
At 31 October 2023 |
DEPRECIATION |
At 1 November 2022 |
Charge for year |
Eliminated on disposal |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 November 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 October 2023 |
DEPRECIATION |
At 1 November 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
8. | STOCKS |
31.10.23 | 31.10.22 |
£ | £ |
Work-in-progress |
C.F. Roberts (Electrical Contractors) |
Limited (Registered number: 03146195) |
Notes to the Financial Statements - continued |
For The Year Ended 31 October 2023 |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.23 | 31.10.22 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts recoverable on contract |
Other debtors |
Amounts due from related party | 138,944 | 213,678 |
Tax |
Deferred tax asset | 101,570 | 101,570 |
Prepayments and accrued income |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.23 | 31.10.22 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
11. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.10.23 | 31.10.22 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.23 | 31.10.22 |
value: | £ | £ |
Ordinary | 1 | 50,000 | 50,000 |
C.F. Roberts (Electrical Contractors) |
Limited (Registered number: 03146195) |
Notes to the Financial Statements - continued |
For The Year Ended 31 October 2023 |
13. | RESERVES |
Retained |
earnings |
£ |
At 1 November 2022 |
Profit for the year |
At 31 October 2023 |
14. | ULTIMATE PARENT COMPANY |
The company's parent is CFR Group Services Limited, a company incorporated in England and Wales. |
The company's ultimate controlling parent company is CFR Investments Limited, a company incorporated in England and Wale, who produce consolidated accounts. |
Information regarding the consolidated accounts of CFR Investments Limited can be obtained from its registered office. |
15. | RELATED PARTY DISCLOSURES |
Related party transactions with entities which the directors' have significant influence over are as follows: |
31.10.23 | 31.10.22 |
£ | £ |
Sales | 46,328 | 48,229 |
Management charges paid | 240,000 | 192,000 |
Management charges received | 4,500 | 4,500 |
Rent Paid | 160,982 | 120,000 |
Rent Received | 83,280 | 72,000 |
Amounts due from related party | 138,944 | 213,678 |
Amounts due to related party | - | - |
No balance was due to or from a director as at 31 October 2023 or 2022. |