Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-307falsetrue2023-05-01falseNo description of principal activity6trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03538521 2023-05-01 2024-04-30 03538521 2022-05-01 2023-04-30 03538521 2024-04-30 03538521 2023-04-30 03538521 c:Director1 2023-05-01 2024-04-30 03538521 d:PlantMachinery 2023-05-01 2024-04-30 03538521 d:PlantMachinery 2024-04-30 03538521 d:PlantMachinery 2023-04-30 03538521 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03538521 d:MotorVehicles 2023-05-01 2024-04-30 03538521 d:MotorVehicles 2024-04-30 03538521 d:MotorVehicles 2023-04-30 03538521 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03538521 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03538521 d:CurrentFinancialInstruments 2024-04-30 03538521 d:CurrentFinancialInstruments 2023-04-30 03538521 d:Non-currentFinancialInstruments 2024-04-30 03538521 d:Non-currentFinancialInstruments 2023-04-30 03538521 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 03538521 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 03538521 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 03538521 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 03538521 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 03538521 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 03538521 d:ShareCapital 2024-04-30 03538521 d:ShareCapital 2023-04-30 03538521 d:RetainedEarningsAccumulatedLosses 2024-04-30 03538521 d:RetainedEarningsAccumulatedLosses 2023-04-30 03538521 c:FRS102 2023-05-01 2024-04-30 03538521 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 03538521 c:FullAccounts 2023-05-01 2024-04-30 03538521 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03538521 d:HirePurchaseContracts d:WithinOneYear 2024-04-30 03538521 d:HirePurchaseContracts d:WithinOneYear 2023-04-30 03538521 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-04-30 03538521 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-04-30 03538521 2 2023-05-01 2024-04-30 03538521 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-04-30 03538521 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-30 03538521 d:LeasedAssetsHeldAsLessee 2024-04-30 03538521 d:LeasedAssetsHeldAsLessee 2023-04-30 03538521 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 03538521









MARTIN COOK ELECTRICAL SERVICES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
MARTIN COOK ELECTRICAL SERVICES LIMITED
REGISTERED NUMBER: 03538521

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
121,730
111,414

  
121,730
111,414

Current assets
  

Stocks
  
3,200
4,000

Debtors: amounts falling due within one year
 5 
84,892
193,191

Cash at bank and in hand
 6 
3,732
2,149

  
91,824
199,340

Creditors: amounts falling due within one year
 7 
(149,833)
(237,976)

Net current liabilities
  
 
 
(58,009)
 
 
(38,636)

Total assets less current liabilities
  
63,721
72,778

Creditors: amounts falling due after more than one year
 8 
(60,211)
(70,235)

  

Net assets
  
3,510
2,543


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
3,410
2,443

  
3,510
2,543


Page 1

 
MARTIN COOK ELECTRICAL SERVICES LIMITED
REGISTERED NUMBER: 03538521
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 September 2024.




................................................
M P Cook
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
MARTIN COOK ELECTRICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Martin Cook Electrical Services Limited is a private company, limited by shares, registered in England and Wales. The address of the company's registered office is First Floor Radius House, 51 Clarendon Road, Watford, Herts, WD17 1HP. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
MARTIN COOK ELECTRICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
MARTIN COOK ELECTRICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Motor vehicles
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
MARTIN COOK ELECTRICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 6

 
MARTIN COOK ELECTRICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.15
Financial instruments (continued)

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

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

Page 7

 
MARTIN COOK ELECTRICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 May 2023
111,796
137,559
249,355


Additions
7,192
62,035
69,227


Disposals
(5,100)
(53,399)
(58,499)



At 30 April 2024

113,888
146,195
260,083



Depreciation


At 1 May 2023
84,489
53,453
137,942


Charge for the year on owned assets
6,711
19,300
26,011


Disposals
(1,276)
(24,324)
(25,600)



At 30 April 2024

89,924
48,429
138,353



Net book value



At 30 April 2024
23,964
97,766
121,730



At 30 April 2023
27,308
84,106
111,414

Page 8

 
MARTIN COOK ELECTRICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
56,494
29,076

56,494
29,076


5.


Debtors

2024
2023
£
£


Trade debtors
54,316
151,386

Other debtors
20,799
23,713

Prepayments and accrued income
9,777
18,092

84,892
193,191



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,732
2,149

Less: bank overdrafts
(54,942)
(65,228)

(51,210)
(63,079)


Page 9

 
MARTIN COOK ELECTRICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
54,942
65,228

Bank loans
32,000
32,000

Trade creditors
10,488
55,977

Corporation tax
16,217
16,929

Other taxation and social security
1,588
34,510

Obligations under finance lease and hire purchase contracts
12,590
6,957

Other creditors
19,508
26,375

Accruals and deferred income
2,500
-

149,833
237,976







Details of security provided:

A fixed and floating charge is registered at Companies House in favour of Lloyds Bank Commercial Finance Limited in respect of the invoicing discounting facility. 


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
32,000
64,000

Net obligations under finance leases and hire purchase contracts
28,211
6,235

60,211
70,235


Page 10

 
MARTIN COOK ELECTRICAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
32,000
32,000


32,000
32,000


Amounts falling due 2-5 years

Bank loans
32,000
64,000


32,000
64,000


64,000
96,000



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
12,590
6,957

Between 1-5 years
28,210
6,235

40,800
13,192

 
Page 11