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REGISTERED NUMBER: 05831907 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

HBC Electrical Limited

HBC Electrical Limited (Registered number: 05831907)






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




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


HBC Electrical Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mr A Buxton
Mr B Charlesworth
Mr R Harding





SECRETARY: Mr R Harding





REGISTERED OFFICE: Oates House Millfield Road
Horbury
Wakefield
West Yorkshire
WF4 5EA





REGISTERED NUMBER: 05831907 (England and Wales)





ACCOUNTANTS: Langricks (Holmfirth) Limited
4 Greenfield Road
Holmfirth
West Yorkshire
HD9 2JT

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
HBC Electrical Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of HBC Electrical Limited for the year ended 31 May 2024 which comprise the Statement of Income and Retained Earnings, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of HBC Electrical Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of HBC Electrical Limited and state those matters that we have agreed to state to the Board of Directors of HBC Electrical Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than HBC Electrical Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that HBC 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 HBC Electrical Limited. You consider that HBC Electrical Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of HBC 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.






Langricks (Holmfirth) Limited
4 Greenfield Road
Holmfirth
West Yorkshire
HD9 2JT


Date: .............................................

HBC Electrical Limited (Registered number: 05831907)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 246,317 194,483

CURRENT ASSETS
Debtors 6 992,380 1,184,422
Cash at bank 691,128 314,693
1,683,508 1,499,115
CREDITORS
Amounts falling due within one year 7 604,420 756,248
NET CURRENT ASSETS 1,079,088 742,867
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,325,405

937,350

CREDITORS
Amounts falling due after more than one
year

8

(33,052

)

(71,835

)

PROVISIONS FOR LIABILITIES (58,416 ) (48,621 )
NET ASSETS 1,233,937 816,894

CAPITAL AND RESERVES
Called up share capital 999 999
Retained earnings 1,232,938 815,895
1,233,937 816,894

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.

HBC Electrical Limited (Registered number: 05831907)

Balance Sheet - continued
31 May 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 February 2025 and were signed on its behalf by:




Mr A Buxton - Director Mr R Harding - Director




Mr B Charlesworth - Director


HBC Electrical Limited (Registered number: 05831907)

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

1. STATUTORY INFORMATION

HBC Electrical Limited 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 5% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


HBC Electrical Limited (Registered number: 05831907)

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

3. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 37 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 June 2023 29,488 1,500 4,114
Additions - - -
Disposals - - (398 )
At 31 May 2024 29,488 1,500 3,716
DEPRECIATION
At 1 June 2023 17,693 1,437 3,160
Charge for year 1,475 16 197
Eliminated on disposal - - (234 )
At 31 May 2024 19,168 1,453 3,123
NET BOOK VALUE
At 31 May 2024 10,320 47 593
At 31 May 2023 11,795 63 954

HBC Electrical Limited (Registered number: 05831907)

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

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 309,762 18,061 362,925
Additions 106,875 2,475 109,350
Disposals - (10,053 ) (10,451 )
At 31 May 2024 416,637 10,483 461,824
DEPRECIATION
At 1 June 2023 135,628 10,524 168,442
Charge for year 51,447 1,332 54,467
Eliminated on disposal - (7,168 ) (7,402 )
At 31 May 2024 187,075 4,688 215,507
NET BOOK VALUE
At 31 May 2024 229,562 5,795 246,317
At 31 May 2023 174,134 7,537 194,483

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2023
and 31 May 2024 218,244
DEPRECIATION
At 1 June 2023 89,938
Charge for year 32,077
At 31 May 2024 122,015
NET BOOK VALUE
At 31 May 2024 96,229
At 31 May 2023 128,306

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 948,080 1,114,262
Other debtors 44,300 70,160
992,380 1,184,422

HBC Electrical Limited (Registered number: 05831907)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts (see note 9) 38,783 42,323
Trade creditors 282,495 295,774
Taxation and social security 191,448 157,585
Other creditors 91,694 260,566
604,420 756,248

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts (see note 9) 33,052 71,835

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.5.24 31.5.23
£    £   
Net obligations repayable:
Within one year 38,783 42,323
Between one and five years 33,052 71,835
71,835 114,158

Non-cancellable operating leases
31.5.24 31.5.23
£    £   
Within one year 14,208 14,141
Between one and five years 4,578 9,630
18,786 23,771

10. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Hire purchase contracts 71,835 114,158

HBC Electrical Limited (Registered number: 05831907)

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

11. RELATED PARTY DISCLOSURES

The company is related to the directors, and during the year to 31 May 2024, the directors introduced £63,609 (2023: £71,369) and withdrew £114,398 (2023: £37,860).

At 31 May 2024 £18,308 (2023: £69,097) was owed by the company to the directors, and is included within creditors.

The company is also related to its shareholders, who have provided loans to the company. At 31 May 2024 £32,092 (2023: £72,694) was owed by the company to the shareholders, and is included within creditors.

The company is related to the directors pension scheme, and during the year rent amounting to £8,694 (2023: £11,806) was paid to the pension scheme.

12. ULTIMATE CONTROLLING PARTY

The company is under joint control of the directors, and therefore no individual is in overall control of the company.