Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 08920832 A Keir L Keir iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08920832 2023-03-31 08920832 2024-03-31 08920832 2023-04-01 2024-03-31 08920832 frs-core:CurrentFinancialInstruments 2024-03-31 08920832 frs-core:Non-currentFinancialInstruments 2024-03-31 08920832 frs-core:BetweenOneFiveYears 2024-03-31 08920832 frs-core:MotorVehicles 2024-03-31 08920832 frs-core:MotorVehicles 2023-04-01 2024-03-31 08920832 frs-core:MotorVehicles 2023-03-31 08920832 frs-core:PlantMachinery 2024-03-31 08920832 frs-core:PlantMachinery 2023-04-01 2024-03-31 08920832 frs-core:PlantMachinery 2023-03-31 08920832 frs-core:WithinOneYear 2024-03-31 08920832 frs-core:RevaluationReserve 2023-04-01 2024-03-31 08920832 frs-core:RevaluationReserve 2024-03-31 08920832 frs-core:ShareCapital 2024-03-31 08920832 frs-core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 08920832 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 08920832 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08920832 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 08920832 frs-bus:SmallEntities 2023-04-01 2024-03-31 08920832 frs-bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08920832 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08920832 frs-bus:Director1 2023-04-01 2024-03-31 08920832 frs-bus:Director1 2023-03-31 08920832 frs-bus:Director1 2024-03-31 08920832 frs-bus:Director2 2023-04-01 2024-03-31 08920832 frs-countries:EnglandWales 2023-04-01 2024-03-31 08920832 2022-03-31 08920832 2023-03-31 08920832 2022-04-01 2023-03-31 08920832 frs-core:CurrentFinancialInstruments 2023-03-31 08920832 frs-core:Non-currentFinancialInstruments 2023-03-31 08920832 frs-core:BetweenOneFiveYears 2023-03-31 08920832 frs-core:WithinOneYear 2023-03-31 08920832 frs-core:RevaluationReserve 2022-03-31 08920832 frs-core:RevaluationReserve 2023-03-31 08920832 frs-core:ShareCapital 2022-03-31 08920832 frs-core:ShareCapital 2023-03-31 08920832 frs-core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 08920832 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2022-03-31 08920832 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 08920832
R K Electrical and Development Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Statement of Changes in Equity 4
Notes to the Financial Statements 5—7
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of R K Electrical and Development Limited for the year ended 31 March 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of R K Electrical and Development Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of R K Electrical and Development Limited , 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 R K Electrical and Development Limited and state those matters that we have agreed to state to the directors of R K Electrical and Development Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R K Electrical and Development Limited and its directors as a body for our work or for this report.
It is your duty to ensure that R K Electrical and Development Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of R K Electrical and Development Limited . You consider that R K Electrical and Development Limited 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 R K Electrical and Development Limited . 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 financial statements.
Signed
04/12/2024
MPU Associates Limited
2 Water Street
Stamford
Lincs
PE9 2NJ
Page 1
Page 2
Balance Sheet
Registered number: 08920832
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 203,520 150,326
203,520 150,326
CURRENT ASSETS
Stocks 5 47,620 57,344
Debtors 6 765,452 1,373,358
Cash at bank and in hand 582,954 967,879
1,396,026 2,398,581
Creditors: Amounts Falling Due Within One Year 7 (1,093,341 ) (803,910 )
NET CURRENT ASSETS (LIABILITIES) 302,685 1,594,671
TOTAL ASSETS LESS CURRENT LIABILITIES 506,205 1,744,997
Creditors: Amounts Falling Due After More Than One Year 8 (111,462 ) (61,495 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (39,987 ) (2,641 )
NET ASSETS 354,756 1,680,861
CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve - 167,519
Profit and Loss Account 354,656 1,513,242
SHAREHOLDERS' FUNDS 354,756 1,680,861
Page 2
Page 3
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
A Keir
Director
04/12/2024
The notes on pages 5 to 7 form part of these financial statements.
Page 3
Page 4
Statement of Changes in Equity
Share Capital Revaluation reserve Profit and Loss Account Total
£ £ £ £
As at 1 April 2022 100 167,519 1,220,741 1,388,360
Profit for the year and total comprehensive income - - 425,724 425,724
Dividends paid - - (133,223) (133,223)
As at 31 March 2023 and 1 April 2023 100 167,519 1,513,242 1,680,861
Profit for the year and total comprehensive income - - 501,726 501,726
Dividends paid - - (1,827,831) (1,827,831)
Transfer from revaluation reserve - - 167,519 167,519
Transfer to/from Profit & Loss Account - (167,519 ) - (167,519)
As at 31 March 2024 100 - 354,656 354,756
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Notes to the Financial Statements
1. General Information
R K Electrical and Development Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08920832 . The registered office is The Old Poultry Farm, Stoke Albany Road, Desborough, NN14 2SP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery etc over 3-4 years
Motor Vehicles over 4 years
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 34 (2023: 33)
34 33
4. Tangible Assets
Plant & Machinery etc Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 34,927 392,989 427,916
Additions 2,120 154,625 156,745
Disposals - (11,499 ) (11,499 )
As at 31 March 2024 37,047 536,115 573,162
Depreciation
As at 1 April 2023 16,021 261,569 277,590
Provided during the period 8,468 95,083 103,551
Disposals - (11,499 ) (11,499 )
As at 31 March 2024 24,489 345,153 369,642
Net Book Value
As at 31 March 2024 12,558 190,962 203,520
As at 1 April 2023 18,906 131,420 150,326
5. Stocks
2024 2023
£ £
Stock 17,986 57,344
Work in progress 29,634 -
47,620 57,344
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 628,324 614,438
Amounts owed by group undertakings - 764,397
Amounts owed by participating interests 240 -
Other debtors 136,888 (5,477)
765,452 1,373,358
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 57,858 40,789
Trade creditors 391,898 525,121
Other creditors 237,294 141,887
Taxation and social security 406,291 96,113
1,093,341 803,910
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 111,462 61,495
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 57,858 40,789
Later than one year and not later than five years 111,462 61,495
169,320 102,284
169,320 102,284
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Andrew Keir - 148,816 84,730 - 64,086
The above loan is unsecured, interest has been charged at 2.25% and the loan is repayable on demand.
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