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C R White Electrical Limited
Filleted accounts
31 March 2024
Company registration number: 06375816
C R White Electrical Limited
Directors and other information
Directors C R White
Mrs J White
Secretary Mrs J White
Company number 06375816
Registered office The Old Dairy
12 Stephen Road
Headington
Oxford
OX3 9AY
Accountants Cox Hinkins & Co. Limited
Accountants and Taxation Advisors
The Old Dairy
12 Stephen Road
Headington
Oxford
OX3 9AY
C R White Electrical Limited
Balance sheet
31st March 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 12,184 15,584
Tangible assets 6 4,858 4,815
_______ _______
17,042 20,399
Current assets
Debtors 7 1,131 3,264
Cash at bank and in hand 18,429 18,320
_______ _______
19,560 21,584
Creditors: amounts falling due
within one year 8 ( 31,136) ( 34,284)
_______ _______
Net current liabilities ( 11,576) ( 12,700)
_______ _______
Net assets 5,466 7,699
_______ _______
Capital and reserves
Called up share capital 9 200 200
Profit and loss account 5,266 7,499
_______ _______
Shareholders funds 5,466 7,699
_______ _______
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.
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.
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 Profit & loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 December 2024 , and are signed on behalf of the board by:
C R White
Director
Company registration number: 06375816
C R White Electrical Limited
Notes to the financial statements
Year ended 31st March 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Old Dairy, 12 Stephen Road, Headington, Oxford, OX3 9AY. There was no significant change in the company's principal activity during the year which continued to be electrical contracting.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.
Turnover
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. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is not recognised in respect of any timing differences at the reporting date as all are insignificant. Unrelieved tax losses and other deferred tax assets are not recognised as it is uncertain when they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25% straight line
Motor vehicles - 25% straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractualarrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1st April 2023 and 31st March 2024 68,000 68,000
_______ _______
Amortisation
At 1st April 2023 52,416 52,416
Charge for the year 3,400 3,400
_______ _______
At 31st March 2024 55,816 55,816
_______ _______
Carrying amount
At 31st March 2024 12,184 12,184
_______ _______
At 31st March 2023 15,584 15,584
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1st April 2023 4,971 8,500 13,471
Additions 2,274 - 2,274
_______ _______ _______
At 31st March 2024 7,245 8,500 15,745
_______ _______ _______
Depreciation
At 1st April 2023 4,937 3,719 8,656
Charge for the year 106 2,125 2,231
_______ _______ _______
At 31st March 2024 5,043 5,844 10,887
_______ _______ _______
Carrying amount
At 31st March 2024 2,202 2,656 4,858
_______ _______ _______
At 31st March 2023 34 4,781 4,815
_______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 1,078 3,216
Other debtors 53 48
_______ _______
1,131 3,264
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Social security and other taxes 2,764 4,969
Other creditors 28,372 29,315
_______ _______
31,136 34,284
_______ _______
9. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 200 200 200 200
_______ _______ _______ _______