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REGISTERED NUMBER: 07397941 (England and Wales)













CONCEPT FIRE & ELECTRICAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






CONCEPT FIRE & ELECTRICAL LIMITED (REGISTERED NUMBER: 07397941)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


CONCEPT FIRE & ELECTRICAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: N J Kelly
C Sweeney





REGISTERED OFFICE: Unit 2 Atlantic Point
Atlantic Trading Estate
Barry
CF63 3AA





REGISTERED NUMBER: 07397941 (England and Wales)





ACCOUNTANTS: Carston Chartered Accountants
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

CONCEPT FIRE & ELECTRICAL LIMITED (REGISTERED NUMBER: 07397941)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 335,819 279,917

CURRENT ASSETS
Stocks 6,500 6,500
Debtors 5 2,195,146 1,223,987
Cash at bank 1,207,589 1,013,139
3,409,235 2,243,626
CREDITORS
Amounts falling due within one year 6 2,994,151 1,795,022
NET CURRENT ASSETS 415,084 448,604
TOTAL ASSETS LESS CURRENT LIABILITIES 750,903 728,521

CREDITORS
Amounts falling due after more than one year 7 301,810 297,437
NET ASSETS 449,093 431,084

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 448,993 430,984
SHAREHOLDERS' FUNDS 449,093 431,084

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:



N J Kelly - Director


CONCEPT FIRE & ELECTRICAL LIMITED (REGISTERED NUMBER: 07397941)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Concept Fire & 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on reducing balance
Plant and machinery - 25% straight line on cost
Motor vehicles - 25% straight line on cost
Computer equipment - 25% straight line on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

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.

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 19 (2022 - 26 ) .

CONCEPT FIRE & ELECTRICAL LIMITED (REGISTERED NUMBER: 07397941)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£ £ £ £ £
COST
At 1 December 2022 213,797 10,130 315,598 25,659 565,184
Additions - - 116,666 5,554 122,220
At 30 November 2023 213,797 10,130 432,264 31,213 687,404
DEPRECIATION
At 1 December 2022 4,525 10,130 246,160 24,452 285,267
Charge for year 1,076 - 63,354 1,888 66,318
At 30 November 2023 5,601 10,130 309,514 26,340 351,585
NET BOOK VALUE
At 30 November 2023 208,196 - 122,750 4,873 335,819
At 30 November 2022 209,272 - 69,438 1,207 279,917

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST
At 1 December 2022 288,848
Additions 116,666
At 30 November 2023 405,514
DEPRECIATION
At 1 December 2022 239,472
Charge for year 56,667
At 30 November 2023 296,139
NET BOOK VALUE
At 30 November 2023 109,375
At 30 November 2022 49,376

5. DEBTORS
2023 2022
£ £
Amounts falling due within one year:
Trade debtors 1,125,471 606,925
Other debtors 69,679 17,066
1,195,150 623,991

CONCEPT FIRE & ELECTRICAL LIMITED (REGISTERED NUMBER: 07397941)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


5. DEBTORS - continued
2023 2022
£ £
Amounts falling due after more than one year:
Other debtors 999,996 599,996

Aggregate amounts 2,195,146 1,223,987

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 56,202 46,559
Hire purchase contracts 36,174 34,458
Trade creditors 606,862 236,946
Taxation and social security 76,820 62,762
Other creditors 2,218,093 1,414,297
2,994,151 1,795,022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans 123,220 189,065
Hire purchase contracts 178,590 108,372
301,810 297,437

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 179,422 235,624
Hire purchase contracts 214,764 142,830
394,186 378,454

The loans in respect of hire purchase agreements are secured against the assets to which they relate.

The bank loan balances are secured by way of fixed charges over the leasehold property known as Unit 2, Atlantic Point, Plot 3B Atlantic Trading Estate.

The bank loan balances are also secured by way of a floating charge over all the other property, assets and rights owned now or in the future which are not subject to an effective fixed charge.

CONCEPT FIRE & ELECTRICAL LIMITED (REGISTERED NUMBER: 07397941)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£ £
N J Kelly
Balance outstanding at start of year 10,134 (962 )
Amounts advanced 154,440 133,217
Amounts repaid (164,887 ) (122,121 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (313 ) 10,134

C Sweeney
Balance outstanding at start of year 10,870 (887 )
Amounts advanced 154,440 133,226
Amounts repaid (165,623 ) (121,469 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (313 ) 10,870

During the year interest (2% p.a.) of £2,270 was charged by the company relating to overdrawn directors loan balances.