Registered number
08825255
Atkins Cottle Electrical Ltd
Filleted Accounts
31 December 2023
Atkins Cottle Electrical Ltd
Registered number: 08825255
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 - 745
Current assets
Debtors 4 2,923 10,965
Creditors: amounts falling due within one year 5 (10,119) (16,053)
Net current liabilities (7,196) (5,088)
Total assets less current liabilities (7,196) (4,343)
Creditors: amounts falling due after more than one year 6 (11,011) (11,977)
Net liabilities (18,207) (16,320)
Capital and reserves
Called up share capital 2 2
Profit and loss account (18,209) (16,322)
Shareholders' funds (18,207) (16,320)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr PE Cottle
Director
Approved by the board on 2 May 2024
Atkins Cottle Electrical Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery fully depreciated, as no longer material
Motor vehicles fully depreciated, as no longer material
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 6,000 3,300 9,300
At 31 December 2023 6,000 3,300 9,300
Depreciation
At 1 January 2023 5,509 3,046 8,555
Charge for the year 491 254 745
At 31 December 2023 6,000 3,300 9,300
Net book value
At 31 December 2023 - - -
At 31 December 2022 491 254 745
4 Debtors 2023 2022
£ £
Other taxes and social security 1,192 2,484
Directors' loan accounts 1,731 8,481
2,923 10,965
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 8,519 13,869
Taxation and social security costs - 184
Accruals 1,600 2,000
10,119 16,053
During the year, advances totalling £0 (2022 £20,481) were made to the directors. At the year end, £1,731 (2022 £8,481) of these advances were still outstanding. Advances were interest-free (2022 charged to interest at HM Revenue & Customs' official rate) and were repayable on demand.
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 11,011 11,977
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 14,791 15,757
The bank loan is secured by a government guarantee.
8 Controlling party
The company is controlled by Mr SA Atkins and Mr PE Cottle, who each hold one £1 ordinary share in the company.
9 Other information
Atkins Cottle Electrical Ltd is a private company limited by shares and incorporated in Cardiff. Its registered office is:
20 Rudheath Lane
Runcorn
WA7 1GD
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