Company Registration No. 04993919 (England and Wales)
CITI ELECTRICS LTD
Unaudited accounts
for the year ended 31 December 2023
CITI ELECTRICS LTD
Unaudited accounts
Contents
CITI ELECTRICS LTD
Company Information
for the year ended 31 December 2023
Company Number
04993919 (England and Wales)
Registered Office
Chalfont St Peter
SL9 9QL
United Kingdom
Accountants
Lane Accounting Limited
Denmark House
143 High Street
Chalfont St Peter
Buckinghamshire
SL9 9QL
CITI ELECTRICS LTD
Statement of financial position
as at 31 December 2023
Tangible assets
7,421
6,466
Cash at bank and in hand
50,651
121,645
Creditors: amounts falling due within one year
(81,081)
(97,982)
Net current assets
350,812
354,960
Net assets
358,233
361,426
Called up share capital
10
10
Profit and loss account
358,223
361,416
Shareholders' funds
358,233
361,426
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 March 2024 and were signed on its behalf by
Peter Moore
Director
Company Registration No. 04993919
CITI ELECTRICS LTD
Notes to the Accounts
for the year ended 31 December 2023
CITI ELECTRICS LTD is a private company, limited by shares, registered in England and Wales, registration number 04993919. The registered office is Chalfont St Peter, SL9 9QL, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% per annum reducing balance
Motor vehicles
20% per annum reducing balance
Fixtures & fittings
20% per annum reducing balance
Computer equipment
20% per annum of cost
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
CITI ELECTRICS LTD
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2023
612
26,000
1,182
-
27,794
Additions
-
5,500
-
1,050
6,550
Disposals
-
(16,000)
-
-
(16,000)
At 31 December 2023
612
15,500
1,182
1,050
18,344
At 1 January 2023
589
19,696
1,043
-
21,328
Charge for the year
5
1,624
21
263
1,913
On disposals
-
(12,318)
-
-
(12,318)
At 31 December 2023
594
9,002
1,064
263
10,923
At 31 December 2023
18
6,498
118
787
7,421
At 31 December 2022
23
6,304
139
-
6,466
Amounts falling due within one year
Trade debtors
200,726
190,539
Accrued income and prepayments
20,338
20,338
Other debtors
160,178
120,420
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
45,396
43,363
7
Average number of employees
During the year the average number of employees was 2 (2022: 3).