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REGISTERED NUMBER: 13861726 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

CHRIS RANKINE ELECTRICAL LIMITED

CHRIS RANKINE ELECTRICAL LIMITED (REGISTERED NUMBER: 13861726)






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


CHRIS RANKINE ELECTRICAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: C Rankine
Mrs A Rankine





REGISTERED OFFICE: Wave Crest
Harlyn Bay Road
St Merryn
Padstow
Cornwall
PL28 8SF





REGISTERED NUMBER: 13861726 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

CHRIS RANKINE ELECTRICAL LIMITED (REGISTERED NUMBER: 13861726)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,000 7,500
Tangible assets 5 44,393 13,547
49,393 21,047

CURRENT ASSETS
Debtors 6 29,203 17,399
Cash at bank and in hand 29,060 55,321
58,263 72,720
CREDITORS
Amounts falling due within one year 7 52,872 62,591
NET CURRENT ASSETS 5,391 10,129
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,784

31,176

PROVISIONS FOR LIABILITIES 8,435 2,574
NET ASSETS 46,349 28,602

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 46,249 28,502
SHAREHOLDERS' FUNDS 46,349 28,602

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.

CHRIS RANKINE ELECTRICAL LIMITED (REGISTERED NUMBER: 13861726)

BALANCE SHEET - continued
31 MARCH 2024


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 20 June 2024 and were signed on its behalf by:





C Rankine - Director


CHRIS RANKINE ELECTRICAL LIMITED (REGISTERED NUMBER: 13861726)

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

1. STATUTORY INFORMATION

Chris Rankine 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of four years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Computer equipment - 15% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

CHRIS RANKINE ELECTRICAL LIMITED (REGISTERED NUMBER: 13861726)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 10,000
AMORTISATION
At 1 April 2023 2,500
Amortisation for year 2,500
At 31 March 2024 5,000
NET BOOK VALUE
At 31 March 2024 5,000
At 31 March 2023 7,500

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 April 2023 15,400 538 15,938
Additions 38,679 - 38,679
At 31 March 2024 54,079 538 54,617
DEPRECIATION
At 1 April 2023 2,310 81 2,391
Charge for year 7,765 68 7,833
At 31 March 2024 10,075 149 10,224
NET BOOK VALUE
At 31 March 2024 44,004 389 44,393
At 31 March 2023 13,090 457 13,547

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 26,726 17,081
Other debtors 602 318
VAT 1,875 -
29,203 17,399

CHRIS RANKINE ELECTRICAL LIMITED (REGISTERED NUMBER: 13861726)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 23,063 -
Trade creditors 2 27,999
Tax 8,647 13,370
Social security and other taxes 418 2,250
Directors' current accounts 18,678 17,743
Accrued expenses 2,064 1,229
52,872 62,591