CB Electrical (Services) Ltd 10051322 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Electrical installations Digita Accounts Production Advanced 6.30.9574.0 true 10051322 2023-04-01 2024-03-31 10051322 2024-03-31 10051322 bus:OrdinaryShareClass1 2024-03-31 10051322 core:RetainedEarningsAccumulatedLosses 2024-03-31 10051322 core:ShareCapital 2024-03-31 10051322 core:CurrentFinancialInstruments 2024-03-31 10051322 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 10051322 core:FurnitureFittingsToolsEquipment 2024-03-31 10051322 core:OtherPropertyPlantEquipment 2024-03-31 10051322 bus:SmallEntities 2023-04-01 2024-03-31 10051322 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10051322 bus:FullAccounts 2023-04-01 2024-03-31 10051322 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10051322 bus:RegisteredOffice 2023-04-01 2024-03-31 10051322 bus:CompanySecretary1 2023-04-01 2024-03-31 10051322 bus:Director2 2023-04-01 2024-03-31 10051322 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 10051322 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10051322 bus:Agent1 2023-04-01 2024-03-31 10051322 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 10051322 core:ShareCapital 2023-04-01 2024-03-31 10051322 core:Goodwill 2023-04-01 2024-03-31 10051322 core:FurnitureFittings 2023-04-01 2024-03-31 10051322 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 10051322 core:OfficeEquipment 2023-04-01 2024-03-31 10051322 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 10051322 core:PlantMachinery 2023-04-01 2024-03-31 10051322 core:Vehicles 2023-04-01 2024-03-31 10051322 countries:AllCountries 2023-04-01 2024-03-31 10051322 2023-03-31 10051322 core:RetainedEarningsAccumulatedLosses 2023-03-31 10051322 core:ShareCapital 2023-03-31 10051322 core:FurnitureFittingsToolsEquipment 2023-03-31 10051322 core:OtherPropertyPlantEquipment 2023-03-31 10051322 2022-04-01 2023-03-31 10051322 2023-03-31 10051322 bus:OrdinaryShareClass1 2023-03-31 10051322 core:RetainedEarningsAccumulatedLosses 2023-03-31 10051322 core:ShareCapital 2023-03-31 10051322 core:CurrentFinancialInstruments 2023-03-31 10051322 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10051322 core:FurnitureFittingsToolsEquipment 2023-03-31 10051322 core:OtherPropertyPlantEquipment 2023-03-31 10051322 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 10051322 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 10051322 core:ShareCapital 2022-04-01 2023-03-31 10051322 2022-03-31 10051322 core:RetainedEarningsAccumulatedLosses 2022-03-31 10051322 core:ShareCapital 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10051322

CB Electrical (Services) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

CB Electrical (Services) Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 13

 

CB Electrical (Services) Ltd

Company Information

Director

Mr Chris Bowley

Company secretary

Britannia Accountancy & Tax Services Ltd

Registered office

1633 Parkway
Whiteley
Fareham
Hampshire
PO15 7AH

Accountants

Britannia Accountancy & Tax Services Ltd
1633 Parkway
Whiteley
Fareham
Hampshire
PO15 7AH

 

CB Electrical (Services) Ltd

Director's Report for the Year Ended 31 March 2024

The director presents his report and the financial statements for the year ended 31 March 2024.

Director of the company

The director who held office during the year was as follows:

Mr Chris Bowley

Principal activity

The principal activity of the company is Electrical installations

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 18 October 2024 and signed on its behalf by:

.........................................
Mr Chris Bowley
Director

   
     
 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
CB Electrical (Services) Ltd
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of CB Electrical (Services) Ltd for the year ended 31 March 2024 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of CB Electrical (Services) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of CB Electrical (Services) Ltd and state those matters that we have agreed to state to the Board of Directors of CB Electrical (Services) Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CB Electrical (Services) Ltd and its Board of Directors as a body for our work or for this report. To the best of our knowledge at the time of preparation; all information contained in this report is accurate, based upon the information and representations made to us by CB Electrical (Services) Ltd

It is your duty to ensure that CB Electrical (Services) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of CB Electrical (Services) Ltd. You consider that CB Electrical (Services) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of CB Electrical (Services) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Britannia Accountancy & Tax Services Ltd
1633 Parkway
Whiteley
Fareham
Hampshire
PO15 7AH

18 October 2024

 

CB Electrical (Services) Ltd

Profit and Loss Account for the Year Ended 31 March 2024

Note

2024
£

2023
£

Turnover

 

24,551

20,916

Cost of sales

 

(3,454)

(880)

Gross profit

 

21,097

20,036

Administrative expenses

 

(24,583)

(27,923)

Operating loss

 

(3,486)

(7,887)

Interest payable and similar expenses

 

(2,232)

(1,505)

Loss before tax

4

(5,718)

(9,392)

Loss for the financial year

 

(5,718)

(9,392)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

CB Electrical (Services) Ltd

Statement of Comprehensive Income for the Year Ended 31 March 2024

2024
£

2023
£

Loss for the year

(5,718)

(9,392)

Total comprehensive income for the year

(5,718)

(9,392)

 

CB Electrical (Services) Ltd

(Registration number: 10051322)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

684

833

Current assets

 

Stocks

6

10,000

10,000

Debtors

7

4,718

3,135

Cash at bank and in hand

 

639

3,812

 

15,357

16,947

Creditors: Amounts falling due within one year

8

(32,850)

(28,871)

Net current liabilities

 

(17,493)

(11,924)

Net liabilities

 

(16,809)

(11,091)

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

(16,810)

(11,092)

Shareholders' deficit

 

(16,809)

(11,091)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 18 October 2024
 

.........................................
Mr Chris Bowley
Director

   
     
 

CB Electrical (Services) Ltd

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Retained earnings
£

Total
£

At 1 April 2023

1

(11,092)

(11,091)

Loss for the year

-

(5,718)

(5,718)

At 31 March 2024

1

(16,810)

(16,809)

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

1

(1,700)

(1,699)

Loss for the year

-

(9,392)

(9,392)

At 31 March 2023

1

(11,092)

(11,091)

 

CB Electrical (Services) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
1633 Parkway
Whiteley
Fareham
Hampshire
PO15 7AH

These financial statements were authorised for issue by the director on 18 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

18% on net book value

Vehicles

18% on net book value

 

CB Electrical (Services) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Office equipment

18% on net book value

Furniture and fittings

18% on net book value

Amortisation

Asset class

Amortisation method and rate

Goodwill

10% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

CB Electrical (Services) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

149

181

 

CB Electrical (Services) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

827

2,500

3,327

At 31 March 2024

827

2,500

3,327

Depreciation

At 1 April 2023

619

1,875

2,494

Charge for the year

37

112

149

At 31 March 2024

656

1,987

2,643

Carrying amount

At 31 March 2024

171

513

684

At 31 March 2023

208

625

833

6

Stocks

2024
£

2023
£

Work in progress

10,000

10,000

7

Debtors

Current

2024
£

2023
£

Other debtors

4,718

3,135

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

28,494

25,681

Accruals and deferred income

 

4,356

3,190

 

32,850

28,871

 

CB Electrical (Services) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1

         

10

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

28,494

25,681

11

Dividends

Final dividends paid

 

2024
£

2023
£

Final dividend of £0 per each Ordinary Shares share

-

-

     

Interim dividends paid

 

2024
£

2023
£

Interim dividend of £0 per each Ordinary Shares share

-

-

     

12

Related party transactions

 

CB Electrical (Services) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

9,100

9,100