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REGISTERED NUMBER: 11033487 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st October 2023

for

R J F Electrical Contractors Ltd

R J F Electrical Contractors Ltd (Registered number: 11033487)

Contents of the Financial Statements
for the Year Ended 31st October 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


R J F Electrical Contractors Ltd (Registered number: 11033487)

Balance Sheet
31st October 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 5 91,449 31,510

Current assets
Stocks 34,454 33,399
Debtors 6 193,818 92,057
Cash at bank - 3,293
228,272 128,749
Creditors
Amounts falling due within one year 7 133,781 105,418
Net current assets 94,491 23,331
Total assets less current liabilities 185,940 54,841

Creditors
Amounts falling due after more than one
year

8

(94,755

)

(48,705

)

Provisions for liabilities (22,862 ) (5,987 )
Net assets 68,323 149

Capital and reserves
Called up share capital 10 100 100
Retained earnings 11 68,223 49
Shareholders' funds 68,323 149

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

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

R J F Electrical Contractors Ltd (Registered number: 11033487)

Balance Sheet - continued
31st October 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 24th April 2024 and were signed on its behalf by:





Mr R J Ford - Director


R J F Electrical Contractors Ltd (Registered number: 11033487)

Notes to the Financial Statements
for the Year Ended 31st October 2023


1. Statutory information

R J F Electrical Contractors Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11033487

Registered office: 22-26 King Street
Kings Lynn
Norfolk
PE30 1HJ

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.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% p.a. reducing balance
Motor vehicles - 25% p.a. reducing balance

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

R J F Electrical Contractors Ltd (Registered number: 11033487)

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


3. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


R J F Electrical Contractors Ltd (Registered number: 11033487)

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


3. Accounting policies - continued
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.

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.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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.

4. Employees and directors

The average number of employees during the year was 10 (2022 - 10 ) .

R J F Electrical Contractors Ltd (Registered number: 11033487)

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


5. Tangible fixed assets
Plant and Motor
machinery vehicles Totals
£ £ £
Cost
At 1st November 2022 8,218 55,734 63,952
Additions 3,188 78,169 81,357
Disposals - (17,989 ) (17,989 )
At 31st October 2023 11,406 115,914 127,320
Depreciation
At 1st November 2022 4,522 27,920 32,442
Charge for year 1,313 10,618 11,931
Eliminated on disposal - (8,502 ) (8,502 )
At 31st October 2023 5,835 30,036 35,871
Net book value
At 31st October 2023 5,571 85,878 91,449
At 31st October 2022 3,696 27,814 31,510

6. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 165,752 61,049
Other debtors 28,066 31,008
193,818 92,057

7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 9,665 5,907
Hire purchase contracts 14,242 10,158
Trade creditors 69,791 69,975
Taxation and social security 37,559 17,363
Other creditors 2,524 2,015
133,781 105,418

R J F Electrical Contractors Ltd (Registered number: 11033487)

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


8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans 29,737 35,194
Hire purchase contracts 65,018 13,511
94,755 48,705

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 29,737 35,194

9. Secured debts

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 35,194 41,101

Bank borrowings consist of a bounceback loan which is 100% guaranteed by the government.

10. Called up share capital

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

11. Reserves

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.

R J F Electrical Contractors Ltd (Registered number: 11033487)

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


12. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31st October 2023 and 31st October 2022:

2023 2022
£ £
Mr R J Ford
Balance outstanding at start of year 4,342 (137 )
Amounts advanced - 4,479
Amounts repaid (4,342 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 4,342