Registered number
06329835
CD Electrical & Lighting Limited
Filleted Accounts
31 August 2023
CD Electrical & Lighting Limited
Registered number: 06329835
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 330,211 343,651
Current assets
Debtors 4 50,443 17,454
Cash at bank and in hand 48,146 51,796
98,589 69,250
Creditors: amounts falling due within one year 5 (221,729) (195,257)
Net current liabilities (123,140) (126,007)
Total assets less current liabilities 207,071 217,644
Creditors: amounts falling due after more than one year 6 (36,837) (55,660)
Provisions for liabilities (4,861) (7,414)
Net assets 165,373 154,570
Capital and reserves
Called up share capital 2 2
Profit and loss account 165,371 154,568
Shareholder's funds 165,373 154,570
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 member has 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.
Nikki Startup
Director
Approved by the board on 21 August 2024
CD Electrical & Lighting Limited
Notes to the Accounts
for the year ended 31 August 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:
Vehicles 4 year reducing balance
Fixtures, fittings, tools and equipment over 5 years
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2022 304,629 39,383 89,035 433,047
At 31 August 2023 304,629 39,383 89,035 433,047
Depreciation
At 1 September 2022 - 28,899 60,497 89,396
Charge for the year - 6,306 7,134 13,440
At 31 August 2023 - 35,205 67,631 102,836
Net book value
At 31 August 2023 304,629 4,178 21,404 330,211
At 31 August 2022 304,629 10,484 28,538 343,651
4 Debtors 2023 2022
£ £
Trade debtors 50,443 17,454
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - (7,351)
Obligations under finance lease and hire purchase contracts 270 -
Trade creditors - 150
Taxation and social security costs 18,033 7,211
Director's Loan Account 203,426 195,247
221,729 195,257
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 17,713 35,996
Obligations under finance lease and hire purchase contracts 19,124 19,664
36,837 55,660
7 Controlling party
The ultimate controlling parties during the period are C Davies & N Startup
C Davies & N Startup each hold 50% of the issued share capital and are deemed the ultimate controlling parties.
8 Other information
CD Electrical & Lighting Limited is a private company limited by shares and incorporated in England. Its registered office is:
Melbury, Cotford Close,
Sidbury,
SIDMOUTH
Devon
EX10 0SJ
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