Company registration number 13756799 (England and Wales)
CFM Electrical Services Ltd
UNAUDITED FINANCIAL STATEMENTS
for the year ended 30 November 2024
PAGES FOR FILING WITH REGISTRAR
CFM Electrical Services Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
CFM Electrical Services Ltd
Statement of financial position
as at 30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,199
12,929
Current assets
Stocks
4,024
3,500
Debtors
4
1,855
1,377
Cash at bank and in hand
790
2,656
6,669
7,533
Creditors: amounts falling due within one year
5
(11,169)
(7,416)
Net current (liabilities)/assets
(4,500)
117
Total assets less current liabilities
5,699
13,046
Creditors: amounts falling due after more than one year
6
(2,730)
(4,161)
Provisions for liabilities
(2,479)
(799)
Net assets
490
8,086
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
489
8,085
Total equity
490
8,086
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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 year 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.
CFM Electrical Services Ltd
Statement of financial position (continued)
as at 30 November 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 31 January 2025
D Robinson
Director
Company registration number 13756799 (England and Wales)
CFM Electrical Services Ltd
Notes to the financial statements
for the year ended 30 November 2024
- 3 -
1
Accounting policies
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.
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,
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
10% reducing balance
Motor vehicles
25% reducing balance
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
CFM Electrical Services Ltd
Notes to the financial statements (continued)
for the year ended 30 November 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
3
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 December 2023 and 30 November 2024
4,062
15,763
19,825
Depreciation and impairment
At 1 December 2023
719
6,177
6,896
Depreciation charged in the year
334
2,396
2,730
At 30 November 2024
1,053
8,573
9,626
Carrying amount
At 30 November 2024
3,009
7,190
10,199
At 30 November 2023
3,343
9,586
12,929
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,855
1,377
5
Creditors: amounts falling due within one year
2024
2023
£
£
Obligations under finance leases
1,557
1,557
Corporation tax
2,225
939
Other taxation and social security
5,787
219
Other creditors
3,101
Accruals and deferred income
1,600
1,600
11,169
7,416
The hire purchase liability is secured against the asset to which it relates.
CFM Electrical Services Ltd
Notes to the financial statements (continued)
for the year ended 30 November 2024
- 5 -
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Obligations under finance leases
2,730
4,161
The hire purchase liability is secured against the asset to which it relates.
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
8
Company information
CFM Electrical Services Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 9 Emscote Gardens, Halifax, West Yorkshire, HX1 3AW.