Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-3012true2023-05-01false12trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02120919 2023-05-01 2024-04-30 02120919 2022-05-01 2023-04-30 02120919 2024-04-30 02120919 2023-04-30 02120919 2022-05-01 02120919 c:Director2 2023-05-01 2024-04-30 02120919 d:Buildings d:LongLeaseholdAssets 2023-05-01 2024-04-30 02120919 d:PlantMachinery 2023-05-01 2024-04-30 02120919 d:PlantMachinery 2024-04-30 02120919 d:PlantMachinery 2023-04-30 02120919 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02120919 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 02120919 d:MotorVehicles 2023-05-01 2024-04-30 02120919 d:MotorVehicles 2024-04-30 02120919 d:MotorVehicles 2023-04-30 02120919 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02120919 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 02120919 d:FurnitureFittings 2023-05-01 2024-04-30 02120919 d:FurnitureFittings 2024-04-30 02120919 d:FurnitureFittings 2023-04-30 02120919 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02120919 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 02120919 d:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 02120919 d:OtherPropertyPlantEquipment 2024-04-30 02120919 d:OtherPropertyPlantEquipment 2023-04-30 02120919 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02120919 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 02120919 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02120919 d:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 02120919 d:CurrentFinancialInstruments 2024-04-30 02120919 d:CurrentFinancialInstruments 2023-04-30 02120919 d:Non-currentFinancialInstruments 2024-04-30 02120919 d:Non-currentFinancialInstruments 2023-04-30 02120919 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 02120919 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 02120919 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 02120919 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 02120919 d:ShareCapital 2024-04-30 02120919 d:ShareCapital 2023-04-30 02120919 d:RetainedEarningsAccumulatedLosses 2024-04-30 02120919 d:RetainedEarningsAccumulatedLosses 2023-04-30 02120919 c:FRS102 2023-05-01 2024-04-30 02120919 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 02120919 c:FullAccounts 2023-05-01 2024-04-30 02120919 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02120919 2 2023-05-01 2024-04-30 02120919 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 02120919 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 02120919 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-04-30 02120919 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-30 02120919 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 02120919










RUSSELLS (ELECTRICAL) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
RUSSELLS (ELECTRICAL) LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 8


 
RUSSELLS (ELECTRICAL) LIMITED
REGISTERED NUMBER: 02120919

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
60,818
70,888

Current assets
  

Stocks
  
91,791
80,348

Debtors: amounts falling due after more than one year
 5 
37,131
37,796

Debtors: amounts falling due within one year
 5 
446,632
382,014

Cash at bank and in hand
  
13,341
51,032

  
588,895
551,190

Creditors: amounts falling due within one year
 6 
(384,863)
(323,045)

Net current assets
  
 
 
204,032
 
 
228,145

Total assets less current liabilities
  
264,850
299,033

Creditors: amounts falling due after more than one year
 7 
(11,708)
(35,788)

Provisions for liabilities
  

Deferred tax
 8 
(15,205)
(17,722)

  
 
 
(15,205)
 
 
(17,722)

Net assets
  
237,937
245,523


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
237,935
245,521

  
237,937
245,523


Page 1

 
RUSSELLS (ELECTRICAL) LIMITED
REGISTERED NUMBER: 02120919
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The directors consider 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 directors acknowledge their 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 statement of income and retained earnings 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 on 30 January 2025.





A Hunter
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
RUSSELLS (ELECTRICAL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Russells (Electrical) Limited (the Company) is a private company, limited by shares, incorporated in England. The address of its registered office is Unit 14, Empire Industrial Park, Aldridge, Walsall, WS9 8UQ  which is also its principal place of business.

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Rendering of services

Revenue 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 revenue 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.

 
2.3

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, as follows:

Leasehold property improvements
-
10% straight line
Plant & machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures & fittings
-
25% reducing balance
Computer software
-
33% straight line

Page 3

 
RUSSELLS (ELECTRICAL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

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 first in, first out 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.

 
2.5

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase 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 creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.6

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.

 
2.7

Interest income

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

Page 4

 
RUSSELLS (ELECTRICAL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax is recognised in the Statement of income and retained earnings, 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.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2023 - 12).

Page 5

 
RUSSELLS (ELECTRICAL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Fixtures & fittings
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 May 2023
23,236
97,474
68,065
10,683
199,458


Additions
-
17,695
-
-
17,695


Disposals
-
(14,495)
-
-
(14,495)



At 30 April 2024

23,236
100,674
68,065
10,683
202,658



Depreciation


At 1 May 2023
23,236
29,130
65,521
10,683
128,570


Charge for the year on owned assets
-
6,751
636
-
7,387


Charge for the year on financed assets
-
12,560
-
-
12,560


Disposals
-
(6,677)
-
-
(6,677)



At 30 April 2024

23,236
41,764
66,157
10,683
141,840



Net book value



At 30 April 2024
-
58,910
1,908
-
60,818



At 30 April 2023
-
68,344
2,544
-
70,888

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
37,678
50,238

Page 6

 
RUSSELLS (ELECTRICAL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
14,700
14,700

Retentions
22,431
23,096

37,131
37,796


2024
2023
£
£

Due within one year

Trade debtors
418,888
354,047

Other debtors
13,051
20,415

Prepayments and accrued income
14,693
7,552

446,632
382,014



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,225
9,973

Trade creditors
182,968
112,529

Corporation tax
47,851
53,476

Other taxation and social security
21
33,099

Obligations under finance lease and hire purchase contracts
13,949
17,066

Other creditors
99,364
85,636

Accruals and deferred income
30,485
11,266

384,863
323,045


The bank overdraft and obligations under hire purchase contracts are secured on the assets of the company. The bank loan is secured by government guarantee.

Page 7

 
RUSSELLS (ELECTRICAL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
11,291
21,490

Net obligations under finance leases and hire purchase contracts
417
14,298

11,708
35,788


The obligations under hire purchase contracts are secured on the assets of the company. The bank loan is secured by government guarantee.


8.


Deferred taxation




2024
2023


£

£






At beginning of year
(17,722)
(12,705)


Charged to profit or loss
2,517
(5,017)



At end of year
(15,205)
(17,722)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(15,205)
(17,722)

 
Page 8