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REGISTERED NUMBER: 09271038 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Fullcross Electrical Limited

Fullcross Electrical Limited (Registered number: 09271038)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

Fullcross Electrical Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: P J Sugrue
Mrs N Sugrue





SECRETARY: Mrs N Sugrue





REGISTERED OFFICE: The Granary
Crowhill Farm
Ravensden Road
Wilden
Bedfordshire
MK44 2QS





REGISTERED NUMBER: 09271038 (England and Wales)





ACCOUNTANTS: GREGORY WILDMAN
The Granary
Crowhill Farm
Ravensden Road
Wilden
Bedfordshire
MK44 2QS

Fullcross Electrical Limited (Registered number: 09271038)

Statement of Financial Position
31 October 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 20,943 26,237
Tangible assets 5 97,497 62,665
118,440 88,902

CURRENT ASSETS
Debtors 6 245,663 191,506
Cash at bank 126,567 216,065
372,230 407,571
CREDITORS
Amounts falling due within one year 7 251,202 275,271
NET CURRENT ASSETS 121,028 132,300
TOTAL ASSETS LESS CURRENT LIABILITIES 239,468 221,202

CREDITORS
Amounts falling due after more than one year 8 (57,271 ) (34,507 )

PROVISIONS FOR LIABILITIES (23,549 ) (18,754 )
NET ASSETS 158,648 167,941

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 9 - 4,910
Retained earnings 157,648 162,031
SHAREHOLDERS' FUNDS 158,648 167,941

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Fullcross Electrical Limited (Registered number: 09271038)

Statement of Financial Position - continued
31 October 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 May 2025 and were signed on its behalf by:





P J Sugrue - Director


Fullcross Electrical Limited (Registered number: 09271038)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Fullcross Electrical Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

There were no material departures from that standard.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from the installation of electrics is recognised when work has been completed and invoiced.

Intangible assets
Intangible assets being Crypto assets are accounted for as follows:

Crypto assets are initially recognised at purchase costs,exchanged at the initial transaction date.

Crypto assets whose fair value can be measured reliably are measured at fair value. The surplus or deficit on revaluation is recognised in the profit and loss account accumulated in the profit and loss reserve unless a deficit below original cost, or its reversal, on an individual crypto asset is expected to be permanent in which case it is recognised in the profit and loss account for the year.

Tangible fixed assets
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives as follows:

Plant & machinery- 20% on cost
Motor vehicles - 25% reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Fullcross Electrical Limited (Registered number: 09271038)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its employees. Contributions payable are charged to profit and loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST OR VALUATION
At 1 November 2023 26,237
Revaluations (5,294 )
At 31 October 2024 20,943
NET BOOK VALUE
At 31 October 2024 20,943
At 31 October 2023 26,237

Fullcross Electrical Limited (Registered number: 09271038)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. INTANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 October 2024 is represented by:

Other
intangible
assets
£   
Valuation in 2023 4,910
Valuation in 2024 (5,294 )
Cost 21,327
20,943

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2023 5,436 85,049 5,994 96,479
Additions 3,394 59,590 6,661 69,645
Disposals (5,436 ) (24,847 ) (3,829 ) (34,112 )
At 31 October 2024 3,394 119,792 8,826 132,012
DEPRECIATION
At 1 November 2023 1,058 30,954 1,802 33,814
Charge for year 253 18,520 2,123 20,896
Eliminated on disposal (1,058 ) (17,803 ) (1,334 ) (20,195 )
At 31 October 2024 253 31,671 2,591 34,515
NET BOOK VALUE
At 31 October 2024 3,141 88,121 6,235 97,497
At 31 October 2023 4,378 54,095 4,192 62,665

Fullcross Electrical Limited (Registered number: 09271038)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2023 36,203
Additions 59,590
At 31 October 2024 95,793
DEPRECIATION
At 1 November 2023 6,769
Charge for year 14,116
At 31 October 2024 20,885
NET BOOK VALUE
At 31 October 2024 74,908
At 31 October 2023 29,434

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 216,966 169,851
Amounts owed by associates 150 -
Other debtors 7,930 13,033
Directors' current accounts 18,014 -
VAT 1,747 6,997
Prepayments 856 1,625
245,663 191,506

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 13,890 4,646
Trade creditors 145,788 95,112
Tax 12,863 44,200
Social security and other taxes 6,378 4,498
Other creditors 59,498 107,916
Directors' current accounts - 6,239
Accrued expenses 2,785 2,660
251,202 275,271

Fullcross Electrical Limited (Registered number: 09271038)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans - 1-5 years 5,833 15,833
Hire purchase contracts 51,438 18,674
57,271 34,507

9. RESERVES
Revaluation
reserve
£   
At 1 November 2023 4,910
Intangible asset revaluation (4,910 )

At 31 October 2024 -

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023:

31.10.24 31.10.23
£    £   
P J Sugrue and Mrs N Sugrue
Balance outstanding at start of year (6,239 ) 31,280
Amounts advanced 18,014 (6,239 )
Amounts repaid 6,239 (31,280 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,014 (6,239 )

11. RELATED PARTY DISCLOSURES

The amount outstanding at the year end due from the directors Mr and Mrs Sugrue is £18,014 (2023 - £6,239 due from)

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Fullcross Electrical Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fullcross Electrical Limited for the year ended 31 October 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Fullcross Electrical Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fullcross Electrical Limited and state those matters that we have agreed to state to the Board of Directors of Fullcross Electrical Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fullcross Electrical Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Fullcross Electrical Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fullcross Electrical Limited. You consider that Fullcross Electrical Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fullcross Electrical Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






GREGORY WILDMAN
The Granary
Crowhill Farm
Ravensden Road
Wilden
Bedfordshire
MK44 2QS


21 May 2025