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REGISTERED NUMBER: 01358795 (England and Wales)















CARALDANE LIMITED
TRADING AS
LYONS ELECTRICAL

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






CARALDANE LIMITED (REGISTERED NUMBER: 01358795)
TRADING AS LYONS ELECTRICAL






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CARALDANE LIMITED
TRADING AS LYONS ELECTRICAL

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mr M Lyons
Mrs K Lyons





SECRETARY: Mrs K Lyons





REGISTERED OFFICE: 7 Deacon Trading Estate
Knight Road
Strood
Rochester
Kent
ME2 2AU





REGISTERED NUMBER: 01358795 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Chartered Accountants
Building 1063
Cornforth Drive
Kent Science Park
SITTINGBOURNE
Kent
ME9 8PX

CARALDANE LIMITED (REGISTERED NUMBER: 01358795)
TRADING AS LYONS ELECTRICAL

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 39,200 49,647

CURRENT ASSETS
Stocks 6 20,000 20,000
Debtors 7 548,729 920,134
Cash at bank and in hand 339,568 125,458
908,297 1,065,592
CREDITORS
Amounts falling due within one year 8 387,142 611,138
NET CURRENT ASSETS 521,155 454,454
TOTAL ASSETS LESS CURRENT
LIABILITIES

560,355

504,101

PROVISIONS FOR LIABILITIES 4,665 5,213
NET ASSETS 555,690 498,888

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Retained earnings 554,690 497,888
SHAREHOLDERS' FUNDS 555,690 498,888

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

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

CARALDANE LIMITED (REGISTERED NUMBER: 01358795)
TRADING AS LYONS ELECTRICAL

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 March 2024 and were signed on its behalf by:





Mr M Lyons - Director


CARALDANE LIMITED (REGISTERED NUMBER: 01358795)
TRADING AS LYONS ELECTRICAL

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Caraldane 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered 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 to 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. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets and the recoverability of retentions.

Turnover
Turnover represents the value, net of value added tax and discounts, of the sale of materials and labour relating to electrical installation, after accounting for accrued income.

In accordance with accounting standards, income is accrued to reflect the fair value of the right of consideration under contracts.

In determining the fair value of the consideration receivable the risk of default is a key factor, particularly in relation to retentions. If the risk of default, taking into consideration all known factors, is so high that it is not probable that any payment will be received then no revenue is recognised until such time as receipt becomes probable.

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
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

CARALDANE LIMITED (REGISTERED NUMBER: 01358795)
TRADING AS LYONS ELECTRICAL

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

3. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

b) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

c) Impairment of financial assets
Financial assets that are measured at cost and amortised cost are 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 profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.


CARALDANE LIMITED (REGISTERED NUMBER: 01358795)
TRADING AS LYONS ELECTRICAL

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

3. ACCOUNTING POLICIES - continued
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 statement of financial position 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

Inventories are also assessed for impairment at each reporting date. Each item of inventory is compared to the last sold date and an impairment loss recognised on a percentage basis in profit and loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit and loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 21 ) .

CARALDANE LIMITED (REGISTERED NUMBER: 01358795)
TRADING AS LYONS ELECTRICAL

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 26,431 47,710 136,809 46,433 257,383
Additions 617 118 - 2,133 2,868
Disposals (4,561 ) (21,962 ) (13,602 ) (30,255 ) (70,380 )
At 31 July 2023 22,487 25,866 123,207 18,311 189,871
DEPRECIATION
At 1 August 2022 24,148 46,568 93,864 43,156 207,736
Charge for year 456 233 8,493 618 9,800
Eliminated on disposal (3,941 ) (21,866 ) (13,123 ) (27,935 ) (66,865 )
At 31 July 2023 20,663 24,935 89,234 15,839 150,671
NET BOOK VALUE
At 31 July 2023 1,824 931 33,973 2,472 39,200
At 31 July 2022 2,283 1,142 42,945 3,277 49,647

6. STOCKS
31.7.23 31.7.22
£    £   
Stocks 20,000 20,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 443,455 772,436
Amounts owed by participating interests - 613
VAT refund 17,258 63,934
Directors' Current Accounts 76,152 72,000
Prepayments 11,864 11,151
548,729 920,134

CARALDANE LIMITED (REGISTERED NUMBER: 01358795)
TRADING AS LYONS ELECTRICAL

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 158,594 405,554
Other creditors 2,025 2,149
Other taxes and PAYE 56,073 40,907
Accruals and deferred income 170,450 162,528
387,142 611,138

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.7.23 31.7.22
£    £   
Within one year 58,666 47,999
Between one and five years 23,514 16,845
In more than five years 39,383 23,845
121,563 88,689

10. SECURED DEBTS

The bank holds a debenture over all the company's assets dated 10 November 1993, in relation to any amounts outstanding between the company and the bank.

No such amounts were outstanding during any part of the current or previous year.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
1,000 Ordinary £1 1,000 1,000

CARALDANE LIMITED (REGISTERED NUMBER: 01358795)
TRADING AS LYONS ELECTRICAL

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
£    £   
Mr M Lyons
Balance outstanding at start of year 36,000 62,599
Amounts advanced 38,076 36,000
Amounts repaid (36,000 ) (62,599 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 38,076 36,000

Mrs K Lyons
Balance outstanding at start of year 36,000 62,599
Amounts advanced 38,076 36,000
Amounts repaid (36,000 ) (62,599 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 38,076 36,000

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M Lyons & Mrs K Lyons.