15 17 Dennis King Electrical Limited 06055891 false 2024-02-01 2025-01-31 2025-01-31 The principal activity of the company is that of electrical contractors Digita Accounts Production Advanced 6.30.9574.0 true 06055891 2024-02-01 2025-01-31 06055891 2025-01-31 06055891 core:CurrentFinancialInstruments 2025-01-31 06055891 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 06055891 core:Non-currentFinancialInstruments core:AfterOneYear 2025-01-31 06055891 core:FurnitureFittings 2025-01-31 06055891 core:MotorVehicles 2025-01-31 06055891 core:PlantMachinery 2025-01-31 06055891 bus:SmallEntities 2024-02-01 2025-01-31 06055891 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 06055891 bus:FilletedAccounts 2024-02-01 2025-01-31 06055891 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 06055891 bus:RegisteredOffice 2024-02-01 2025-01-31 06055891 bus:Director1 2024-02-01 2025-01-31 06055891 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 06055891 core:Goodwill 2024-02-01 2025-01-31 06055891 core:FurnitureFittings 2024-02-01 2025-01-31 06055891 core:MotorVehicles 2024-02-01 2025-01-31 06055891 core:PlantMachinery 2024-02-01 2025-01-31 06055891 countries:AllCountries 2024-02-01 2025-01-31 06055891 2024-01-31 06055891 core:FurnitureFittings 2024-01-31 06055891 core:MotorVehicles 2024-01-31 06055891 core:PlantMachinery 2024-01-31 06055891 2023-02-01 2024-01-31 06055891 2024-01-31 06055891 core:CurrentFinancialInstruments 2024-01-31 06055891 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 06055891 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 06055891 core:FurnitureFittings 2024-01-31 06055891 core:MotorVehicles 2024-01-31 06055891 core:PlantMachinery 2024-01-31 xbrli:pure iso4217:GBP

Registration number: 06055891

Dennis King Electrical Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

Dennis King Electrical Limited

(Registration number: 06055891)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

74,064

89,224

Current assets

 

Stocks

5

5,500

5,500

Debtors

6

135,088

106,544

Cash at bank and in hand

 

25,514

63,853

 

166,102

175,897

Creditors: Amounts falling due within one year

7

(158,616)

(180,778)

Net current assets/(liabilities)

 

7,486

(4,881)

Total assets less current liabilities

 

81,550

84,343

Creditors: Amounts falling due after more than one year

7

(17,001)

(24,533)

Provisions for liabilities

(18,515)

(16,951)

Net assets

 

46,034

42,859

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

45,034

41,859

Shareholders' funds

 

46,034

42,859

For the financial year ending 31 January 2025 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 April 2025
 


.........................................
Mr Anthony Mark Miller
Director

   
     
 

Dennis King Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

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

The address of its registered office is:
Unit 13, Middlethorpe Business Park
Sim Balk Lane
Bishopthorpe
York
YO23 2BD

These financial statements were authorised for issue by the director on 15 April 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.

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 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.

 

Dennis King Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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

Plant & machinery

25% reducing balance

Fixtures & fittings

15% reducing balance

Motor vehicles

25% reducing balance

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

over 5 years

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.

 

Dennis King Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

Dennis King Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 15 (2024 - 17).

 

Dennis King Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2024

2,000

20,933

186,325

209,258

Additions

-

-

13,298

13,298

Disposals

-

-

(34,115)

(34,115)

At 31 January 2025

2,000

20,933

165,508

188,441

Depreciation

At 1 February 2024

2,000

15,965

102,069

120,034

Charge for the year

-

1,311

22,457

23,768

Eliminated on disposal

-

-

(29,425)

(29,425)

At 31 January 2025

2,000

17,276

95,101

114,377

Carrying amount

At 31 January 2025

-

3,657

70,407

74,064

At 31 January 2024

-

4,968

84,256

89,224

5

Stocks

2025
£

2024
£

Other inventories

5,500

5,500

6

Debtors

Current

2025
£

2024
£

Trade debtors

113,684

97,900

Prepayments

5,381

3,705

Other debtors

16,023

4,939

 

135,088

106,544

 

Dennis King Electrical Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

18,330

21,851

Trade creditors

 

104,220

108,212

Taxation and social security

 

25,822

29,771

Accruals and deferred income

 

1,811

-

Other creditors

 

8,433

20,944

 

158,616

180,778


Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £18,330 (2024 - £21,851).

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

17,001

24,533


Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £17,001 (2024 - £24,533).

Lloyds Bank plc hold a fixed and floating charge over the undertaking and all property and assets present and future including goodwill, bookdebts, uncalled capital, buildings, fixtures, fixed plant and machinery.