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REGISTERED NUMBER: 08965616 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

ELECTRICAL CONCEPTS LTD

ELECTRICAL CONCEPTS LTD (Registered number: 08965616)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ELECTRICAL CONCEPTS LTD

Company Information
for the Year Ended 31 May 2024







DIRECTORS: K Clark
M F Culver
J J Haines





SECRETARY: Mrs R J Clark





REGISTERED OFFICE: May Lodge
Park Lane
Cane End
Reading
Berkshire
RG4 9HP





REGISTERED NUMBER: 08965616 (England and Wales)





ACCOUNTANTS: Arcadian Accounting Ltd
152 Kidmore End Road
Emmer Green
Reading
Berkshire
RG4 8SP

ELECTRICAL CONCEPTS LTD (Registered number: 08965616)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 391 521

CURRENT ASSETS
Debtors 5 77,880 208,336
Cash at bank 354,513 365,140
432,393 573,476
CREDITORS
Amounts falling due within one year 6 33,922 137,531
NET CURRENT ASSETS 398,471 435,945
TOTAL ASSETS LESS CURRENT
LIABILITIES

398,862

436,466

PROVISIONS FOR LIABILITIES 74 99
NET ASSETS 398,788 436,367

CAPITAL AND RESERVES
Called up share capital 150 150
Retained earnings 398,638 436,217
SHAREHOLDERS' FUNDS 398,788 436,367

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 January 2025 and were signed on its behalf by:





K Clark - Director


ELECTRICAL CONCEPTS LTD (Registered number: 08965616)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

ELECTRICAL CONCEPTS LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

ELECTRICAL CONCEPTS LTD (Registered number: 08965616)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 1,223
DEPRECIATION
At 1 June 2023 702
Charge for year 130
At 31 May 2024 832
NET BOOK VALUE
At 31 May 2024 391
At 31 May 2023 521

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 62,808 176,732
Corporation Tax repayable 8,887 -
VAT 2,390 27,493
Prepayments 3,795 4,111
77,880 208,336

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 26,128 74,708
Tax - 50,615
Social security and other taxes 3,585 7,183
Other creditors 459 1,416
Directors' current accounts - 109
Accrued expenses 3,750 3,500
33,922 137,531

7. RELATED PARTY DISCLOSURES

The company is a subsidiary company of Lan Concepts Ltd (which holds 66.67% of the issued share capital), which is also ultimately under the control of Mr Kevin Clark, Mrs Rebecca Clark and Mr Mark Culver.
At 31st May 2024 the company owed £4,245 (2023: £5,959) to Lan Concepts Ltd in respect of arm's length transactions between the two companies.
The total amount of transactions between the two companies were as follows:

£3,538 - purchases (2023: £7,530)


The company is a related party of Property Concepts (Southern) Ltd (a subsidiary of Lan Concepts Ltd which holds 100% of the issued share capital), which is also ultimately under the control of Mr Kevin Clark, Mrs Rebecca Clark and Mr Mark Culver.
There were no transactions between the companies during the year ending 31st May 2024.

ELECTRICAL CONCEPTS LTD (Registered number: 08965616)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. ULTIMATE CONTROLLING PARTY

Lan Concepts Ltd (66.67%) and Mr Jason Haines (33.33%) together own 100% of the Issued share capital of the company. Kevin Clark (35%), Mark Culver (35%) and Rebecca Clark (30%) together own 100% of the Issued share capital of Lan Concepts Ltd.
Mr Jason Haines is also a director of the company.