Company registration number 14924671 (England and Wales)
D. COATES ELECTRICAL LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
D. COATES ELECTRICAL LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
D. COATES ELECTRICAL LTD
BALANCE SHEET
- 1 -
2024
Notes
£
£
Fixed assets
Tangible assets
3
16,810
Current assets
Stocks
188
Debtors
4
1,010
Cash at bank and in hand
1,378
2,576
Creditors: amounts falling due within one year
5
(24,723)
Net current liabilities
(22,147)
Total assets less current liabilities
(5,337)
Creditors: amounts falling due after more than one year
6
(9,420)
Net liabilities
(14,757)
Capital and reserves
Called up share capital
2
Profit and loss reserves
(14,759)
Total equity
(14,757)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 6 March 2025 and are signed on its behalf by:
Mr D Coates
Director
Company registration number 14924671 (England and Wales)
D. COATES ELECTRICAL LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information
D. Coates Electrical Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 30 Basil Drive, Downham Market, Norfolk, PE38 9UH.
1.1
Reporting period
These accounts cover a period of over one year as the period is the first of the company. Therefore, there are no comparable figures.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Going concern
The accounts have been prepared on a going concern basis. The company relies upon the continued support of the company’s shareholderstrue. The directors are of the understanding that this support is to continue and as such the directors continue to adopt the going concern basis of accounting.
1.4
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% Straightline
Fixtures and fittings
15% Reducing balance
Motor vehicles
25% Straightline
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
D. COATES ELECTRICAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 8 June 2023
Additions
18,994
At 30 June 2024
18,994
Depreciation and impairment
At 8 June 2023
Depreciation charged in the period
2,184
At 30 June 2024
2,184
Carrying amount
At 30 June 2024
16,810
D. COATES ELECTRICAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 4 -
4
Debtors
2024
Amounts falling due within one year:
£
Trade debtors
545
Other debtors
465
1,010
5
Creditors: amounts falling due within one year
2024
£
Trade creditors
312
Other creditors
24,411
24,723
Included within other creditors is £2,626 related to finance agreements which are secured against the assets to which they relate.
6
Creditors: amounts falling due after more than one year
2024
£
Other creditors
9,420
Included within other creditors is £9,420 related to finance agreements which are secured against the assets to which they relate.