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REGISTERED NUMBER: 10580862 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

CORK ELECTRICAL LIMITED

CORK ELECTRICAL LIMITED (REGISTERED NUMBER: 10580862)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CORK ELECTRICAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A L Cork
Mrs C E Cork
J King





REGISTERED OFFICE: Lothing House
7 Quay View Business Park
Barnards Way
Lowestoft
Suffolk
NR32 2HD





REGISTERED NUMBER: 10580862 (England and Wales)





ACCOUNTANTS: Juler Tooke
Lothing House
Quay View Business Park
Barnards Way
Lowestoft
Suffolk
NR32 2HD

CORK ELECTRICAL LIMITED (REGISTERED NUMBER: 10580862)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 51,581 61,903

CURRENT ASSETS
Stocks 50,558 14,500
Debtors 5 197,403 113,477
Cash at bank 369,514 217,819
617,475 345,796
CREDITORS
Amounts falling due within one year 6 (307,576 ) (83,378 )
NET CURRENT ASSETS 309,899 262,418
TOTAL ASSETS LESS CURRENT
LIABILITIES

361,480

324,321

CREDITORS
Amounts falling due after more than one
year

7

(18,153

)

(34,496

)

PROVISIONS FOR LIABILITIES (12,818 ) (11,762 )
NET ASSETS 330,509 278,063

CAPITAL AND RESERVES
Called up share capital 8 112 4
Retained earnings 9 330,397 278,059
SHAREHOLDERS' FUNDS 330,509 278,063

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

CORK ELECTRICAL LIMITED (REGISTERED NUMBER: 10580862)

BALANCE SHEET - continued
31 MARCH 2024


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 30 May 2024 and were signed on its behalf by:





A L Cork - Director


CORK ELECTRICAL LIMITED (REGISTERED NUMBER: 10580862)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Cork Electrical 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.

2. ACCOUNTING POLICIES

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

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 each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance and 15% on reducing balance

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

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.

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.

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.

CORK ELECTRICAL LIMITED (REGISTERED NUMBER: 10580862)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 82,804
Additions 5,282
Disposals (12,737 )
At 31 March 2024 75,349
DEPRECIATION
At 1 April 2023 20,901
Charge for year 11,689
Eliminated on disposal (8,822 )
At 31 March 2024 23,768
NET BOOK VALUE
At 31 March 2024 51,581
At 31 March 2023 61,903

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 188,540 113,060
Other debtors 8,863 417
197,403 113,477

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 190,009 13,173
Taxation and social security 55,488 35,177
Other creditors 62,079 35,028
307,576 83,378

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 18,153 34,496

CORK ELECTRICAL LIMITED (REGISTERED NUMBER: 10580862)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary shares £1 100 2
2 Ordinary B & C Class shares £1 2 2
10 Ordinary D & E Class shares £1 10 -
112 4

The following shares were allotted and fully paid for cash at par during the year:

98 Ordinary shares shares of £1 each
10 Ordinary D & E Class shares shares of £1 each

9. RESERVES
Retained
earnings
£   

At 1 April 2023 278,059
Profit for the year 108,090
Dividends (55,752 )
At 31 March 2024 330,397

10. ULTIMATE CONTROLLING PARTY

The company was under the control of Mr A L Cork as holder of the share capital throughout the current year.
The company operates a Loan account with the Director and the balance as at 31 March 2024 was £62,079.(31 March 2023 was £34,649)