Company registration number 06256845 (England and Wales)
CITY GAS AND ELECTRICAL SERVICES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
CITY GAS AND ELECTRICAL SERVICES LTD
CONTENTS
Page
Balance sheet
2
Notes to the financial statements
3 - 6
CITY GAS AND ELECTRICAL SERVICES LTD
COMPANY INFORMATION
- 1 -
Director
Mr A Jones
Company number
06256845
Registered office
Tekainga
Lower Way
Upper Longdon
Staffordshire
England
WS15 1QQ
Accountants
Haslehursts Limited
88 Hill Village Road
Four Oaks
Sutton Coldfield
West Midlands
B75 5BE
CITY GAS AND ELECTRICAL SERVICES LTD
BALANCE SHEET
AS AT
31 JULY 2023
31 July 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
5,997
7,707
Current assets
Stocks
1,300
1,300
Debtors
5
4,549
5,993
Cash at bank and in hand
5,586
3,425
11,435
10,718
Creditors: amounts falling due within one year
6
(11,047)
(13,589)
Net current assets/(liabilities)
388
(2,871)
Total assets less current liabilities
6,385
4,836
Creditors: amounts falling due after more than one year
7
-
0
(1,875)
Net assets
6,385
2,961
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
6,285
2,861
Total equity
6,385
2,961

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 15 April 2024
Mr A Jones
Director
Company registration number 06256845 (England and Wales)
CITY GAS AND ELECTRICAL SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
1
Accounting policies
Company information

City Gas and Electrical Services Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Tekainga, Lower Way, Upper Longdon, Staffordshire, England, WS15 1QQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable.

1.3
Tangible fixed assets

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:

Plant and equipment
20% on cost
Computers
33% on cost
Motor vehicles
25% on cost
1.4
Stocks

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

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

CITY GAS AND ELECTRICAL SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
5,501
2,544
CITY GAS AND ELECTRICAL SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022
13,453
Additions
350
At 31 July 2023
13,803
Depreciation and impairment
At 1 August 2022
5,746
Depreciation charged in the year
2,060
At 31 July 2023
7,806
Carrying amount
At 31 July 2023
5,997
At 31 July 2022
7,707
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
3,706
5,190
Other debtors
843
803
4,549
5,993
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
1,875
3,750
Trade creditors
2,055
4,912
Taxation and social security
5,594
2,544
Other creditors
1,523
2,383
11,047
13,589
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
-
0
1,875
CITY GAS AND ELECTRICAL SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 6 -
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
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