0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 05664855 2023-02-01 2024-01-31 05664855 2024-01-31 05664855 2023-01-31 05664855 2022-02-01 2023-01-31 05664855 2023-01-31 05664855 2022-01-31 05664855 core:FurnitureFittings 2023-02-01 2024-01-31 05664855 core:MotorVehicles 2023-02-01 2024-01-31 05664855 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 05664855 bus:Director1 2023-02-01 2024-01-31 05664855 core:FurnitureFittings 2023-01-31 05664855 core:MotorVehicles 2023-01-31 05664855 core:FurnitureFittings 2024-01-31 05664855 core:MotorVehicles 2024-01-31 05664855 core:WithinOneYear 2024-01-31 05664855 core:WithinOneYear 2023-01-31 05664855 core:ShareCapital 2024-01-31 05664855 core:ShareCapital 2023-01-31 05664855 core:RetainedEarningsAccumulatedLosses 2024-01-31 05664855 core:RetainedEarningsAccumulatedLosses 2023-01-31 05664855 core:FurnitureFittings 2023-01-31 05664855 core:MotorVehicles 2023-01-31 05664855 bus:SmallEntities 2023-02-01 2024-01-31 05664855 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 05664855 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 05664855 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 05664855 bus:FullAccounts 2023-02-01 2024-01-31 05664855 bus:OrdinaryShareClass1 2024-01-31 05664855 bus:OrdinaryShareClass1 2023-01-31 05664855 core:PlantMachinery 2023-02-01 2024-01-31 05664855 core:PlantMachinery 2024-01-31 05664855 core:PlantMachinery 2023-01-31 05664855 core:AccountingPolicyChangeIncreaseDecrease bus:Director1 2023-02-01 2024-01-31
COMPANY REGISTRATION NUMBER: 05664855
C M S Electrical Wholesale Ltd
Filleted Unaudited Financial Statements
31 January 2024
C M S Electrical Wholesale Ltd
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
3
472
594
Current assets
Stocks
19,006
7,465
Debtors
4
7,932
5,848
Cash at bank and in hand
9,848
16,000
-------
-------
36,786
29,313
Prepayments and accrued income
616
311
Creditors: amounts falling due within one year
5
41,472
41,834
-------
-------
Net current liabilities
4,070
12,210
------
-------
Total assets less current liabilities
( 3,598)
( 11,616)
Accruals and deferred income
1,638
1,453
------
-------
Net liabilities
( 5,236)
( 13,069)
------
-------
Capital and reserves
Called up share capital
6
1
1
Profit and loss account
( 5,237)
( 13,070)
------
-------
Shareholders deficit
( 5,236)
( 13,069)
------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
C M S Electrical Wholesale Ltd
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 22 October 2024 , and are signed on behalf of the board by:
P.D. Stockley
Director
Company registration number: 05664855
C M S Electrical Wholesale Ltd
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private limited company limited by shares, registered and trading in England and Wales with company number 05664855 . The address of the registered office is 9 Hurst Road, Longford, Coventry CV6 6EG.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the company and rounded to the nearest £.
Going concern
The continuation of the company's affairs are dependent upon the support of the directors. These accounts have been prepared on a going concern basis which assumes their continued support for the foreseeable future.
Judgements in applying accounting policies and key sources of estimation in uncertainty
In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Plant and equipment
-
15% reducing balance
Stocks
Stocks are measured 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 the stock to its present location and condition.
Financial instruments
The company only has basic financial instruments. - Financial assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.
3. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 February 2023 and 31 January 2024
680
13,995
1,564
16,239
----
-------
------
-------
Depreciation
At 1 February 2023
621
13,663
1,361
15,645
Charge for the year
9
83
30
122
----
-------
------
-------
At 31 January 2024
630
13,746
1,391
15,767
----
-------
------
-------
Carrying amount
At 31 January 2024
50
249
173
472
----
-------
------
-------
At 31 January 2023
59
332
203
594
----
-------
------
-------
4. Debtors
2024
2023
£
£
Trade debtors
7,781
5,848
Other debtors
151
------
------
7,932
5,848
------
------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
613
4,162
Social security and other taxes
2,540
Other creditors
40,859
35,132
-------
-------
41,472
41,834
-------
-------
6. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
7. Directors' advances, credits and guarantees
At the reporting date the directors loan account was in credit by £40,859 (2023: £35,132). There is no fixed term for repayment and no interest is charged.