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Registration number: 06757843

CLG Mechanical & Electrical Contractors Limited

Unaudited Filleted Financial Statements

for the Year Ended 27 June 2024

 

CLG Mechanical & Electrical Contractors Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

CLG Mechanical & Electrical Contractors Limited

(Registration number: 06757843)
Balance Sheet as at 27 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

28,904

36,922

Current assets

 

Debtors

5

231,031

919,870

Cash at bank and in hand

 

106,816

218,670

 

337,847

1,138,540

Creditors: Amounts falling due within one year

6

(259,485)

(1,020,464)

Net current assets

 

78,362

118,076

Total assets less current liabilities

 

107,266

154,998

Creditors: Amounts falling due after more than one year

6

(9,641)

(19,907)

Provisions for liabilities

(6,000)

(11,000)

Net assets

 

91,625

124,091

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

91,525

123,991

Shareholders' funds

 

91,625

124,091

For the financial year ending 27 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 19 February 2025
 

.........................................
C D Procter
Director

 

CLG Mechanical & Electrical Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 27 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Suite 7 Moorfield House
Moorfield Road
Yeadon
Leeds
LS19 7BN

These financial statements were authorised for issue by the director on 19 February 2025.

2

Accounting policies

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 company's functional and presentation currency is pound sterling.

Summary of disclosure exemptions

The company has taken advantage of the exemption under Finanacial Reporting Standard 102 Section 1AC.35 from disclosing transactions and balances with fellow group undertakings that are wholly owned..

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Contract revenue recognition

Profit on long term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated on that proportion of total contract value which costs incurred to date bear to expected costs for that contract. Full provision is made for losses on all contracts in the year in which they are first foreseen.

 

CLG Mechanical & Electrical Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 27 June 2024

Government grants

Grants are recognised when there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.

Grants are measured at the fair value of the asset received or receivable.

Grants relating to revenue shall be recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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

Leasehold improvements

4% staright line basis

Plant and machinery

20% reducing balance basis

Motor vehicles

25% reducing balance basis

 

CLG Mechanical & Electrical Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 27 June 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

 

CLG Mechanical & Electrical Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 27 June 2024

Financial instruments

Classification
Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or
(b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2023 - 11).

 

CLG Mechanical & Electrical Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 27 June 2024

4

Tangible assets

Leasehold improvements
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 28 June 2023

7,900

14,243

60,739

82,882

At 27 June 2024

7,900

14,243

60,739

82,882

Depreciation

At 28 June 2023

2,212

12,108

31,640

45,960

Charge for the year

316

427

7,275

8,018

At 27 June 2024

2,528

12,535

38,915

53,978

Carrying amount

At 27 June 2024

5,372

1,708

21,824

28,904

At 27 June 2023

5,688

2,135

29,099

36,922

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

46,024

218,657

Amounts owed by related parties

3,615

204,161

Prepayments

 

3,825

-

Other debtors

 

177,567

497,052

   

231,031

919,870

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10,267

11,877

Trade creditors

 

137,411

200,611

Taxation and social security

 

67,359

36,335

Accruals and deferred income

 

43,869

770,503

Other creditors

 

579

1,138

 

259,485

1,020,464

Creditors due in one year include net obligations under finance leases and hire purchase contract, which are secured on the assets concerned, of £nil (2023 - £1,862).

 

CLG Mechanical & Electrical Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 27 June 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9,641

19,907

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2023 - £7,896). This financial commitment is in respect of an operating lease.