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Registration number: 06676049

David Crouch Electrical Services Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

David Crouch Electrical Services Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

David Crouch Electrical Services Limited

Company Information

Directors

Mr D N Crouch

Mrs J M Crouch

Company secretary

Mrs J M Crouch

Registered office

Springers
Hellingly
Hailsham
East Sussex
BN27 4ET

Accountants

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

 

David Crouch Electrical Services Limited

(Registration number: 06676049)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

1,069

Tangible assets

5

23,893

67,100

 

23,893

68,169

Current assets

 

Stocks

6

273

1,225

Debtors

7

35,683

76,020

Cash at bank and in hand

 

74,908

150,615

 

110,864

227,860

Creditors: Amounts falling due within one year

8

(3,045)

(39,484)

Net current assets

 

107,819

188,376

Total assets less current liabilities

 

131,712

256,545

Creditors: Amounts falling due after more than one year

8

(31,945)

(42,564)

Net assets

 

99,767

213,981

Capital and reserves

 

Called up share capital

10

10

Retained earnings

99,757

213,971

Shareholders' funds

 

99,767

213,981

 

David Crouch Electrical Services Limited

(Registration number: 06676049)
Balance Sheet as at 31 August 2024

For the financial year ending 31 August 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 prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 April 2025 and signed on its behalf by:
 

.........................................
Mr D N Crouch
Director

 

David Crouch Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
Springers
Hellingly
Hailsham
East Sussex
BN27 4ET

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 presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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.

 

David Crouch Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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

Plant & Machinery

20% Reducing balance

Fixtures & Fittings

20% Reducing balance

Motor Vehicles

25% Reducing balance

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

Software

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

David Crouch Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 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.

 

David Crouch Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 9).

 

David Crouch Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 September 2023

2,215

2,215

Disposals

(2,215)

(2,215)

At 31 August 2024

-

-

Amortisation

At 1 September 2023

1,146

1,146

Amortisation eliminated on disposals

(1,146)

(1,146)

At 31 August 2024

-

-

Carrying amount

At 31 August 2024

-

-

At 31 August 2023

1,069

1,069

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2023

3,696

113,143

2,668

119,507

Disposals

-

(62,460)

(1,547)

(64,007)

At 31 August 2024

3,696

50,683

1,121

55,500

Depreciation

At 1 September 2023

2,620

48,331

1,456

52,407

Charge for the year

389

10,643

122

11,154

Eliminated on disposal

-

(31,017)

(937)

(31,954)

At 31 August 2024

3,009

27,957

641

31,607

Carrying amount

At 31 August 2024

687

22,726

480

23,893

At 31 August 2023

1,076

64,812

1,212

67,100

 

David Crouch Electrical Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Stocks

2024
£

2023
£

Other inventories

273

1,225

7

Debtors

2024
£

2023
£

Trade debtors

23,718

69,977

Taxation and social security

11,111

-

Prepayments

854

5,581

Other debtors

-

462

35,683

76,020

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

2,006

7,412

Taxation and social security

712

30,663

Director loan account

327

1,409

3,045

39,484

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

31,945

42,564

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

31,945

37,500

Hire purchase contracts

-

5,064

31,945

42,564