2023-04-012024-03-312024-03-31false05805268CLEAVER ELECTRICAL SERVICES 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CLEAVER ELECTRICAL SERVICES LIMITED

Registered Number
05805268
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

CLEAVER ELECTRICAL SERVICES LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

CLEAVER, Duane

Registered Address

Studio 4 224 Shoreditch High Street
London
E1 6PJ

Registered Number

05805268 (England and Wales)
CLEAVER ELECTRICAL SERVICES LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets341,06854,368
41,06854,368
Current assets
Stocks454,89954,899
Debtors152,008137,062
Cash at bank and on hand3245
206,910192,206
Creditors amounts falling due within one year5(183,172)(147,764)
Net current assets (liabilities)23,73844,442
Total assets less current liabilities64,80698,810
Net assets64,80698,810
Capital and reserves
Called up share capital100100
Profit and loss account64,70698,710
Shareholders' funds64,80698,810
The financial statements were approved and authorised for issue by the Director on 19 September 2024, and are signed on its behalf by:
CLEAVER, Duane
Director
Registered Company No. 05805268
CLEAVER ELECTRICAL SERVICES LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year45
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 April 2314,49055,95754,07933,588158,114
Additions---508508
At 31 March 2414,49055,95754,07934,096158,622
Depreciation and impairment
At 01 April 2314,49055,957-33,299103,746
Charge for year--13,808-13,808
At 31 March 2414,49055,95713,80833,299117,554
Net book value
At 31 March 24--40,27179741,068
At 31 March 23--54,07928954,368
4.Stocks

2024

2023

££
Work in progress54,71954,719
Other stocks180180
Total54,89954,899
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables70,36138,640
Bank borrowings and overdrafts21,10338,724
Taxation and social security47,7688,158
Finance lease and HP contracts20,87833,877
Other creditors20,06125,365
Accrued liabilities and deferred income3,0013,000
Total183,172147,764
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.