Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30false2023-05-01falseNo description of principal activity45trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08467525 2023-05-01 2024-04-30 08467525 2022-05-01 2023-04-30 08467525 2024-04-30 08467525 2023-04-30 08467525 c:Director1 2023-05-01 2024-04-30 08467525 d:PlantMachinery 2023-05-01 2024-04-30 08467525 d:PlantMachinery 2024-04-30 08467525 d:PlantMachinery 2023-04-30 08467525 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 08467525 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 08467525 d:MotorVehicles 2023-05-01 2024-04-30 08467525 d:MotorVehicles 2024-04-30 08467525 d:MotorVehicles 2023-04-30 08467525 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 08467525 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 08467525 d:FurnitureFittings 2023-05-01 2024-04-30 08467525 d:FurnitureFittings 2024-04-30 08467525 d:FurnitureFittings 2023-04-30 08467525 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 08467525 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 08467525 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 08467525 d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 08467525 d:Goodwill 2023-05-01 2024-04-30 08467525 d:Goodwill 2024-04-30 08467525 d:Goodwill 2023-04-30 08467525 d:CurrentFinancialInstruments 2024-04-30 08467525 d:CurrentFinancialInstruments 2023-04-30 08467525 d:Non-currentFinancialInstruments 2024-04-30 08467525 d:Non-currentFinancialInstruments 2023-04-30 08467525 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 08467525 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 08467525 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 08467525 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 08467525 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 08467525 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 08467525 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 08467525 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 08467525 d:ShareCapital 2024-04-30 08467525 d:ShareCapital 2023-04-30 08467525 d:RetainedEarningsAccumulatedLosses 2024-04-30 08467525 d:RetainedEarningsAccumulatedLosses 2023-04-30 08467525 c:OrdinaryShareClass1 2023-05-01 2024-04-30 08467525 c:OrdinaryShareClass1 2024-04-30 08467525 c:OrdinaryShareClass1 2023-04-30 08467525 c:OrdinaryShareClass2 2023-05-01 2024-04-30 08467525 c:OrdinaryShareClass2 2024-04-30 08467525 c:OrdinaryShareClass2 2023-04-30 08467525 c:FRS102 2023-05-01 2024-04-30 08467525 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 08467525 c:FullAccounts 2023-05-01 2024-04-30 08467525 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08467525 2 2023-05-01 2024-04-30 08467525 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08467525










VARDIGANS ELECTRICAL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
VARDIGANS ELECTRICAL LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF VARDIGANS ELECTRICAL LIMITED
FOR THE YEAR ENDED 30 APRIL 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Vardigans Electrical Limited for the year ended 30 April 2024 which comprise  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 firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the director of Vardigans Electrical Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Vardigans Electrical Limited and state those matters that we have agreed to state to the director of Vardigans Electrical Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vardigans Electrical Limited and its director for our work or for this report. 

It is your duty to ensure that Vardigans Electrical Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Vardigans Electrical Limited. You consider that Vardigans Electrical Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Vardigans Electrical 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 statutory financial statements.

  



MA Partners LLP
 
12 Church Street
Cromer
Norfolk
NR27 9ER
21 January 2025
Page 1

 
VARDIGANS ELECTRICAL LIMITED
REGISTERED NUMBER: 08467525

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
27,934
34,768

  
27,934
34,768

Current assets
  

Stocks
  
12,504
17,233

Debtors: amounts falling due within one year
 6 
17,905
39,104

  
30,409
56,337

Creditors: amounts falling due within one year
 7 
(46,436)
(70,236)

Net current liabilities
  
 
 
(16,027)
 
 
(13,899)

Total assets less current liabilities
  
11,907
20,869

Creditors: amounts falling due after more than one year
 8 
(11,782)
(20,611)

  

Net assets
  
125
258


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
25
158

  
125
258


Page 2

 
VARDIGANS ELECTRICAL LIMITED
REGISTERED NUMBER: 08467525
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Paul Vardigans
Director

Date: 21 January 2025

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
VARDIGANS ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

The Company is a private company limited by shares.  It is both incorporated and domiciled in England and Wales.  The address of its registered office is 12 Church Street, Cromer, Norfolk, NR27 9ER.
The company's principle activity is that of Electrical Contractors.  Its principal place of business is Foxboro House, The Street, Hindolveston, Norfolk, NR20 5DD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

.In light of coronavirus (COVID-19) the directors have considered a period of twelve months from the date of approval of the financial statements. They consider that projected income together with current cash reserves will be more than adequate for the company's needs. As such they believe that the financial statements should be prepared on a going concern basis.

 
2.3

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
VARDIGANS ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 5

 
VARDIGANS ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25% Reducing Balance
Motor vehicles
-
25% Reducing Balance
Fixtures and fittings
-
25% Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
VARDIGANS ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
4
5


4.


Intangible assets




Goodwill

£



Cost


At 1 May 2023
70,743



At 30 April 2024

70,743



Amortisation


At 1 May 2023
70,743



At 30 April 2024

70,743



Net book value



At 30 April 2024
-



At 30 April 2023
-



Page 7

 
VARDIGANS ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 May 2023
11,684
81,282
7,100
100,066


Additions
1,165
-
-
1,165



At 30 April 2024

12,849
81,282
7,100
101,231



Depreciation


At 1 May 2023
9,965
52,226
3,107
65,298


Charge for the year on owned assets
733
476
-
1,209


Charge for the year on financed assets
-
6,790
-
6,790



At 30 April 2024

10,698
59,492
3,107
73,297



Net book value



At 30 April 2024
2,151
21,790
3,993
27,934



At 30 April 2023
1,719
29,056
3,993
34,768


6.


Debtors

2024
2023
£
£


Trade debtors
6,384
21,840

Other debtors
9,988
16,050

Prepayments and accrued income
1,533
1,214

17,905
39,104


Page 8

 
VARDIGANS ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
8,582
15,828

Bank loans
5,372
8,188

Trade creditors
20,671
25,268

Corporation tax
3,197
7,682

Other taxation and social security
2,387
7,207

Obligations under finance lease and hire purchase contracts
4,600
4,603

Other creditors
102
-

Accruals and deferred income
1,525
1,460

46,436
70,236



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
6,714
11,404

Net obligations under finance leases and hire purchase contracts
5,068
9,207

11,782
20,611


Page 9

 
VARDIGANS ELECTRICAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
5,372
8,188


5,372
8,188

Amounts falling due 1-2 years

Bank loans
5,372
5,068


5,372
5,068

Amounts falling due 2-5 years

Bank loans
1,342
6,335


1,342
6,335


12,086
19,591



10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



90 (2023 - 90) Ordinary A Shares shares of £1.00 each
90
90
10 (2023 - 10) Ordinary B Shares shares of £1.00 each
10
10

100

100



11.


Related party transactions

At the year end the director owed the Company £7,450 in respect of a director's loan account. The loan is unsecured and is repayable on demand. and is shown within other debtors in note 6 to the financial statements

 
Page 10