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Registration number: 06628465

A Coole Electrical Limited

Unaudited Financial Statements

for the Year Ended 30 September 2024

 

A Coole Electrical Limited

(Registration number: 06628465)

Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

245,668

212,930

Current assets

 

Stocks

107,524

192,300

Debtors

5

730,184

472,788

Cash at bank and in hand

 

133,687

80,380

 

971,395

745,468

Creditors: Amounts falling due within one year

6

(680,737)

(674,776)

Net current assets

 

290,658

70,692

Total assets less current liabilities

 

536,326

283,622

Creditors: Amounts falling due after more than one year

6

(139,266)

(100,641)

Provisions for liabilities

(43,824)

(15,636)

Net assets

 

353,236

167,345

Capital and reserves

 

Called up share capital

100

100

Retained earnings

353,136

167,245

Shareholders' funds

 

353,236

167,345

 

A Coole Electrical Limited

(Registration number: 06628465)

Balance Sheet as at 30 September 2024 (continued)

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 3 March 2025 and signed on its behalf by:
 

.........................................

Mr Andrew Coole

Director

 

A Coole Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

Accounting policies

Statutory information

A Coole Electrical Limited is a private company, limited by shares, domiciled in England and Wales, company number 06628465. The registered office is at 4 Station Road, Royston, Barnsley, S71 4EW.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

These financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Government grants

Grants that do not impose specified future performance-related conditions are recognised in income when the grant proceeds are received or receivable. Grants that impose specified future performance-related conditions are recognised in income only when the performance-related conditions are met. Grants received before the revenue recognition criteria are satisfied are recognised as a liability.

Tax

The tax expense for the period comprises current and tax. Tax is recognised in statement of income and retained earnings, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

A Coole Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

1

Accounting policies (continued)

Deferred tax shall be recognised in respect of all timing differences at the reporting date, except as otherwise required by FRS102. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that 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 income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Unrelieved tax losses and other deferred tax assets shall be 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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

15% straight line

Office equipment

25% straight line

Fixtures, fittings and equipment

10% straight line

Motor vehicles

25% straight line

Leasehold property improvements

10% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

 

A Coole Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

1

Accounting policies (continued)

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of income and retained earnings and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 32 (2023 - 39).

 

A Coole Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

3

Intangible assets

Goodwill
 £

Total
£

Cost

At 1 October 2023

25,000

25,000

At 30 September 2024

25,000

25,000

Amortisation

At 1 October 2023

25,000

25,000

At 30 September 2024

25,000

25,000

Carrying amount

At 30 September 2024

-

-

 

A Coole Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

4

Tangible assets

Leasehold property improvements
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Office equipment
£

Total
£

Cost

At 1 October 2023

175,933

35,246

214,531

45,182

470,892

Additions

-

1,536

82,530

4,256

88,322

Disposals

-

-

(39,786)

-

(39,786)

At 30 September 2024

175,933

36,782

257,275

49,438

519,428

Depreciation

At 1 October 2023

87,965

15,227

117,272

37,498

257,962

Charge for the year

17,593

3,562

29,838

4,591

55,584

Eliminated on disposal

-

-

(39,786)

-

(39,786)

At 30 September 2024

105,558

18,789

107,324

42,089

273,760

Carrying amount

At 30 September 2024

70,375

17,993

149,951

7,349

245,668

At 30 September 2023

87,968

20,019

97,259

7,684

212,930

 

A Coole Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

5

Debtors

2024
£

2023
£

Trade debtors

525,270

263,374

Amounts owed by related parties

116,524

108,623

Prepayments

18,235

13,283

Other debtors

70,155

87,508

 

730,184

472,788

6

Creditors

2024
£

2023
£

Due within one year

Bank borrowings

9,166

9,166

HP and finance lease liabilities

38,304

27,696

Other borrowings

-

9,957

Trade creditors

286,927

324,757

Taxation and social security

193,061

128,641

Accruals and deferred income

6,697

5,500

Other creditors

146,582

169,059

680,737

674,776

2024
£

2023
£

Due after one year

 

Loans and borrowings

20,937

25,000

Finance lease liabilities

 

118,329

75,641

 

139,266

100,641

Finance lease liabilities are secured against the assets concerned.

 

A Coole Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

7

Related party transactions

Summary of transactions with key management

The company is party to a guarantee for the banking facilities of Coole Holdings Limited, a company under the control of the directors.