Registered number
03136201
Clayton Electrical Limited
Unaudited Filleted Accounts
30 November 2024
Clayton Electrical Limited
Registered number: 03136201
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 52,587 54,035
Current assets
Stocks 10,224 16,540
Debtors 4 290,002 243,256
Cash at bank and in hand 373,440 351,644
673,666 611,440
Creditors: amounts falling due within one year 5 (569,828) (431,847)
Net current assets 103,838 179,593
Total assets less current liabilities 156,425 233,628
Creditors: amounts falling due after more than one year 6 (35,476) (50,801)
Provisions for liabilities (10,150) (13,509)
Net assets 110,799 169,318
Capital and reserves
Called up share capital 1,100 1,100
Profit and loss account 109,699 168,218
Shareholders' funds 110,799 169,318
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Guilford
Director
Approved by the board on 15 August 2025
Clayton Electrical Limited
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the amounts derived from the provision of goods and services in the UK which falls within the company's ordinary activities stated after trade discounts and net of value added tax.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 13 13
3 Tangible fixed assets
Plant and equipment Motor vehicles Total
£ £ £
Cost
At 1 December 2023 32,474 104,120 136,594
Additions 482 12,750 13,232
Disposals - (9,988) (9,988)
At 30 November 2024 32,956 106,882 139,838
Depreciation
At 1 December 2023 26,945 55,614 82,559
Charge for the year 1,202 12,738 13,940
On disposals - (9,248) (9,248)
At 30 November 2024 28,147 59,104 87,251
Net book value
At 30 November 2024 4,809 47,778 52,587
At 30 November 2023 5,529 48,506 54,035
4 Debtors 2024 2023
£ £
Trade debtors 237,240 215,785
Other debtors 52,762 27,471
290,002 243,256
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,317 10,102
Obligations under finance lease and hire purchase contracts 5,007 4,708
Trade creditors 305,647 293,550
Taxation and social security costs 77,521 81,785
Other creditors 171,336 41,702
569,828 431,847
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 5,213 15,530
Obligations under finance lease and hire purchase contracts 30,263 35,271
35,476 50,801
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 3,900 6,066
8 Controlling party
The ultimate controlling party of the company is C Guilford and D Guilford jointly.
9 Other information
Clayton Electrical Limited is a private company limited by shares and incorporated in England. Its registered office is:
31 Hermitage Road
Kenley
Surrey
CR8 5EA
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