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REGISTERED NUMBER: 05032219 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

CHG ELECTRICAL LIMITED

CHG ELECTRICAL LIMITED (REGISTERED NUMBER: 05032219)






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


CHG ELECTRICAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr P D Clarke
Mrs C L Clarke





REGISTERED OFFICE: 2 Wortley Road
Deepcar
Sheffield
South Yorkshire
S36 2UZ





REGISTERED NUMBER: 05032219 (England and Wales)





ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB

CHG ELECTRICAL LIMITED (REGISTERED NUMBER: 05032219)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 129,295 107,149

CURRENT ASSETS
Stocks 10,000 10,000
Debtors 5 2,115,986 1,533,947
Cash at bank and in hand 652,507 42,377
2,778,493 1,586,324
CREDITORS
Amounts falling due within one year 6 2,231,107 1,355,200
NET CURRENT ASSETS 547,386 231,124
TOTAL ASSETS LESS CURRENT LIABILITIES 676,681 338,273

CREDITORS
Amounts falling due after more than
one year

7

(78,991

)

(164,013

)

PROVISIONS FOR LIABILITIES (9,653 ) -
NET ASSETS 588,037 174,260

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 587,937 174,160
SHAREHOLDERS' FUNDS 588,037 174,260

CHG ELECTRICAL LIMITED (REGISTERED NUMBER: 05032219)

BALANCE SHEET - continued
31 MARCH 2024


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.

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 25 July 2024 and were signed on its behalf by:





Mr P D Clarke - Director


CHG ELECTRICAL LIMITED (REGISTERED NUMBER: 05032219)

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

1. STATUTORY INFORMATION

CHG 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

Significant judgements and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover from the sale of a service is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on completion of the contract.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery - 20% straight line
Motor vehicles - 25% straight line
Fixtures and fittings - 20% straight line
Computer equipment - 33% straight line

CHG ELECTRICAL LIMITED (REGISTERED NUMBER: 05032219)

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

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


CHG ELECTRICAL LIMITED (REGISTERED NUMBER: 05032219)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 28 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 12,178 6,215 150,440 30,606 199,439
Additions 883 3,232 58,838 8,888 71,841
At 31 March 2024 13,061 9,447 209,278 39,494 271,280
DEPRECIATION
At 1 April 2023 6,485 3,282 59,756 22,767 92,290
Charge for year 1,684 1,326 40,122 6,563 49,695
At 31 March 2024 8,169 4,608 99,878 29,330 141,985
NET BOOK VALUE
At 31 March 2024 4,892 4,839 109,400 10,164 129,295
At 31 March 2023 5,693 2,933 90,684 7,839 107,149

CHG ELECTRICAL LIMITED (REGISTERED NUMBER: 05032219)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 95,200
DEPRECIATION
At 1 April 2023 27,962
Charge for year 23,800
At 31 March 2024 51,762
NET BOOK VALUE
At 31 March 2024 43,438
At 31 March 2023 67,238

5. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Trade debtors 409,295 560,437
Other debtors 58,427 118,659
Directors' current accounts 237,324 126,815
Prepayments and accrued income 1,339,420 693,813
2,044,466 1,499,724

Amounts falling due after more than one year:
Other debtors 71,520 34,223

Aggregate amounts 2,115,986 1,533,947

CHG ELECTRICAL LIMITED (REGISTERED NUMBER: 05032219)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 50,000 70,000
Hire purchase contracts (see note 8) 18,159 18,159
Trade creditors 532,908 324,750
Corporation tax 114,541 -
Social security and other taxes 41,158 34,152
VAT 53,283 121,133
Other creditors 99,054 81,605
Accruals and deferred income 1,322,004 705,401
2,231,107 1,355,200

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 50,000 105,188
Bank loans - 2-5 years 8,334 20,009
Hire purchase contracts (see note 8) 20,657 38,816
78,991 164,013

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 18,159 18,159
Between one and five years 20,657 38,816
38,816 56,975

CHG ELECTRICAL LIMITED (REGISTERED NUMBER: 05032219)

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

8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 26,627 -
Between one and five years 31,667 -
58,294 -

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 38,816 56,975

The debts are secured on the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
50 A Ordinary £1 50 50
49 B Ordinary £1 49 49
1 C Ordinary £1 1 1
100 100

CHG ELECTRICAL LIMITED (REGISTERED NUMBER: 05032219)

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

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr P D Clarke and Mrs C L Clarke
Balance outstanding at start of year 126,815 115,407
Amounts advanced 129,590 66,571
Amounts repaid (19,081 ) (55,163 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 237,324 126,815

12. RELATED PARTY DISCLOSURES

Other related parties

31.03.2431.03.23
£   £   
Amounts sold to related parties91,196110,673
Amounts due from related parties 61,13833,234
Amounts purchased from related parties311,375204,249
Amounts due to related parties2,7126,978
Loans from related parties100,000100,000
Loans to related parties120,000123,248