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COMPANY REGISTRATION NUMBER: 03191383
Recon Electrical Limited
Filleted Unaudited Abridged Financial Statements
30 September 2024
Recon Electrical Limited
Abridged Financial Statements
Year Ended 30 September 2024
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
Recon Electrical Limited
Abridged Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed Assets
Tangible assets
5
6,858
10,949
Current Assets
Stocks
116,390
109,345
Debtors
231,683
240,841
Cash at bank and in hand
104,851
77,114
---------
---------
452,924
427,300
Creditors: amounts falling due within one year
183,388
188,104
---------
---------
Net Current Assets
269,536
239,196
---------
---------
Total Assets Less Current Liabilities
276,394
250,145
Provisions
1,715
2,737
---------
---------
Net Assets
274,679
247,408
---------
---------
Capital and Reserves
Called up share capital
6
40,002
40,002
Profit and loss account
234,677
207,406
---------
---------
Shareholders Funds
274,679
247,408
---------
---------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the 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 abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Recon Electrical Limited
Abridged Statement of Financial Position (continued)
30 September 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 28 May 2025 , and are signed on behalf of the board by:
Mr R Gratton
Director
Company registration number: 03191383
Recon Electrical Limited
Notes to the Abridged Financial Statements
Year Ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1 - 6 Ambrose Buildings, Broombank Road, Chesterfield, Derbyshire, S41 9QJ.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% straight line
Fixtures and fittings
-
15% straight line
Motor vehicles
-
25% straight line
Equipment
-
15% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 8 ).
5. Tangible assets
£
Cost
At 1 October 2023
141,897
Disposals
( 6,528)
---------
At 30 September 2024
135,369
---------
Depreciation
At 1 October 2023
130,948
Charge for the year
4,090
Disposals
( 6,527)
---------
At 30 September 2024
128,511
---------
Carrying amount
At 30 September 2024
6,858
---------
At 30 September 2023
10,949
---------
6. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Amounts presented in equity:
Ordinary shares of £ 1 each
40,000
40,000
40,000
40,000
--------
--------
--------
--------
Amounts presented in liabilities:
Preference shares of £ 1 each
2
2
2
2
----
----
----
----
7. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
37,161
37,161
Later than 1 year and not later than 5 years
50,875
88,036
--------
---------
88,036
125,197
--------
---------
8. Directors' advances, credits and guarantees
There are no director's advances, credits or guarantees that require disclosure.