Registered number
05494410
Randburg Electrical Services Limited
Filleted Accounts
30 June 2024
Randburg Electrical Services Limited
Registered number: 05494410
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1 15,000
Tangible assets 4 67,464 78,852
67,465 93,852
Current assets
Debtors 5 701,077 1,264,077
Investments held as current assets 6 546,000 497,473
Cash at bank and in hand 3,651,439 2,744,127
4,898,516 4,505,677
Creditors: amounts falling due within one year 7 (709,826) (748,885)
Net current assets 4,188,690 3,756,792
Total assets less current liabilities 4,256,155 3,850,644
Creditors: amounts falling due after more than one year 8 (133,052) (173,327)
Net assets 4,123,103 3,677,317
Capital and reserves
Called up share capital 50 50
Profit and loss account 4,123,053 3,677,267
Shareholder's funds 4,123,103 3,677,317
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Brazier
Director
Approved by the board on 19 January 2025
Randburg Electrical Services Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery, fixtures, fittings, 20% of the balance after disposals, additions
tools, equipment and motor vehicles and previous years' depreciation
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2023 287,106
At 30 June 2024 287,106
Amortisation
At 1 July 2023 272,106
Provided during the year 14,999
At 30 June 2024 287,105
Net book value
At 30 June 2024 1
At 30 June 2023 15,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 71,871 93,896 165,767
Additions 6,100 - 6,100
Disposals - (14,727) (14,727)
At 30 June 2024 77,971 79,169 157,140
Depreciation
At 1 July 2023 52,088 34,827 86,915
Charge for the year 5,177 11,689 16,866
On disposals - (14,105) (14,105)
At 30 June 2024 57,265 32,411 89,676
Net book value
At 30 June 2024 20,706 46,758 67,464
At 30 June 2023 19,783 59,069 78,852
5 Debtors 2024 2023
£ £
Trade debtors 339,783 643,851
Retention amounts receivable 133,052 115,722
Other debtors 228,242 504,504
701,077 1,264,077
6 Investments held as current assets 2024 2023
£ £
Fair value
Managed quoted investments 546,000 497,473
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments 31,755 4,278
7 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts - 8,640
Trade creditors 240,839 268,740
Randburg Specialist Services Limited 202,899 198,717
Taxation and social security costs 207,920 263,268
Other creditors 58,168 9,520
709,826 748,885
8 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts - 57,605
Trade creditors 133,052 115,722
133,052 173,327
9 Loans to directors Owed to the director at 1 July 2023 Loans taken during the year Repaid during the year Owed to the director at 30 June 2024
Description and conditions £ £ £ £
Mr D Brazier 818 200,000 200,000 818
818 200,000 200,000 818
10 Related party transactions
Randburg Specialist Services Limited (RSSL) is a related party by virtue of a common controlling shareholder and a director. At the balance sheet date RSSL was owed £202,899 (2023 - owed £198,717). During the year the company acquired net £4,181 goods and services from RSSL.
11 Controlling party
The company is controlled by Mr D Brazier and is not a subsidiary.
12 Other information
Randburg Electrical Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
411 Limpsfield Road
Warlingham
CR6 9HA
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