20 19 Steve Rudkin Electrical Contractors Limited 05308426 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is that of the electrical contractors. Digita Accounts Production Advanced 6.30.9574.0 true 05308426 2024-01-01 2024-12-31 05308426 2024-12-31 05308426 bus:Director1 1 2024-12-31 05308426 bus:OrdinaryShareClass1 2024-12-31 05308426 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:CurrentFinancialInstruments 2024-12-31 05308426 core:CurrentFinancialInstruments 2024-12-31 05308426 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 05308426 core:Goodwill 2024-12-31 05308426 core:ConstructionInProgressAssetsUnderConstruction 2024-12-31 05308426 core:FurnitureFittingsToolsEquipment 2024-12-31 05308426 core:LandBuildings 2024-12-31 05308426 core:MotorVehicles 2024-12-31 05308426 core:OtherPropertyPlantEquipment 2024-12-31 05308426 bus:SmallEntities 2024-01-01 2024-12-31 05308426 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 05308426 bus:FilletedAccounts 2024-01-01 2024-12-31 05308426 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05308426 bus:RegisteredOffice 2024-01-01 2024-12-31 05308426 bus:Director1 2024-01-01 2024-12-31 05308426 bus:Director1 1 2024-01-01 2024-12-31 05308426 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 05308426 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05308426 core:Goodwill 2024-01-01 2024-12-31 05308426 core:Buildings 2024-01-01 2024-12-31 05308426 core:ComputerEquipment 2024-01-01 2024-12-31 05308426 core:ConstructionInProgressAssetsUnderConstruction 2024-01-01 2024-12-31 05308426 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 05308426 core:LandBuildings 2024-01-01 2024-12-31 05308426 core:LeaseholdImprovements 2024-01-01 2024-12-31 05308426 core:MotorVehicles 2024-01-01 2024-12-31 05308426 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 05308426 core:PlantMachinery 2024-01-01 2024-12-31 05308426 countries:England 2024-01-01 2024-12-31 05308426 2023-12-31 05308426 bus:Director1 1 2023-12-31 05308426 core:Goodwill 2023-12-31 05308426 core:ConstructionInProgressAssetsUnderConstruction 2023-12-31 05308426 core:FurnitureFittingsToolsEquipment 2023-12-31 05308426 core:LandBuildings 2023-12-31 05308426 core:MotorVehicles 2023-12-31 05308426 core:OtherPropertyPlantEquipment 2023-12-31 05308426 2023-01-01 2023-12-31 05308426 2023-12-31 05308426 bus:Director1 1 2023-12-31 05308426 bus:OrdinaryShareClass1 2023-12-31 05308426 core:CurrentFinancialInstruments 2023-12-31 05308426 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05308426 core:ConstructionInProgressAssetsUnderConstruction 2023-12-31 05308426 core:FurnitureFittingsToolsEquipment 2023-12-31 05308426 core:LandBuildings 2023-12-31 05308426 core:MotorVehicles 2023-12-31 05308426 core:OtherPropertyPlantEquipment 2023-12-31 05308426 bus:Director1 1 2023-01-01 2023-12-31 05308426 bus:Director1 1 2022-12-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 05308426

Steve Rudkin Electrical Contractors Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Steve Rudkin Electrical Contractors Limited

(Registration number: 05308426)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

58,053

48,352

Current assets

 

Stocks

7

19,924

3,900

Debtors

8

753,076

658,464

Other financial assets

6

438,507

414,317

Cash at bank and in hand

 

403,954

441,687

 

1,615,461

1,518,368

Creditors: Amounts falling due within one year

9

(270,160)

(297,717)

Net current assets

 

1,345,301

1,220,651

Total assets less current liabilities

 

1,403,354

1,269,003

Provisions for liabilities

(14,513)

(12,088)

Net assets

 

1,388,841

1,256,915

Capital and reserves

 

Called up share capital

10

1

1

Retained earnings

1,388,840

1,256,914

Shareholders' funds

 

1,388,841

1,256,915

 

Steve Rudkin Electrical Contractors Limited

(Registration number: 05308426)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 2024 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director for issue on 20 August 2025
 

.........................................

S P Rudkin

Director

 

Steve Rudkin Electrical Contractors Limited

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

1

General information

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

The address of its registered office is:
Unit 5
Casterton Road Business Park
The Old Great North Road
Stamford
Lincolnshire
PE9 4EJ

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.

 

Steve Rudkin Electrical Contractors Limited

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

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

Leasehold property improvements

20% on cost

Tools and equipment

20% on reducing balance

Motor vehicles

25% on reducing balance

Computer equipment

33% on cost

Office

10% on cost

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.

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 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.

 

Steve Rudkin Electrical Contractors Limited

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

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.

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 20 (2023 - 19).

 

Steve Rudkin Electrical Contractors Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2024

60,000

60,000

At 31 December 2024

60,000

60,000

Amortisation

At 1 January 2024

60,000

60,000

At 31 December 2024

60,000

60,000

Carrying amount

At 31 December 2024

-

-

 

Steve Rudkin Electrical Contractors Limited

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

5

Tangible assets

Leasehold property improvements
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Office
£

Tools and equipment
£

Total
£

Cost or valuation

At 1 January 2024

24,951

17,112

126,544

3,182

21,152

192,941

Additions

-

-

31,180

-

400

31,580

Disposals

-

-

(14,100)

-

-

(14,100)

At 31 December 2024

24,951

17,112

143,624

3,182

21,552

210,421

Depreciation

At 1 January 2024

24,951

16,210

85,791

3,182

14,455

144,589

Charge for the year

-

487

12,974

-

1,355

14,816

Eliminated on disposal

-

-

(7,037)

-

-

(7,037)

At 31 December 2024

24,951

16,697

91,728

3,182

15,810

152,368

Carrying amount

At 31 December 2024

-

415

51,896

-

5,742

58,053

At 31 December 2023

-

902

40,753

-

6,697

48,352

 

Steve Rudkin Electrical Contractors Limited

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

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Current financial assets

Cost or valuation

CA investment - listed other shares bfwd

414,317

414,317

CA inv - listed other shs temp'y writedown/back (to p&l)

24,190

24,190

At 31 December 2024

438,507

438,507

Impairment

Carrying amount

At 31 December 2024

438,507

438,507

 

Steve Rudkin Electrical Contractors Limited

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

7

Stocks

2024
£

2023
£

Work in progress

17,774

2,000

Other inventories

2,150

1,900

19,924

3,900

8

Debtors

Current

2024
£

2023
£

Trade debtors

398,789

425,060

Prepayments

5,900

8,187

Other debtors

348,387

225,217

 

753,076

658,464

 

Steve Rudkin Electrical Contractors Limited

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

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

165,354

162,380

Taxation and social security

 

23,529

23,617

Other creditors

 

81,277

111,720

 

270,160

297,717

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

11

Related party transactions

Transactions with the director

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

S P Rudkin

49,577

138,135

(42,095)

145,617

2023

At 1 January 2023
£

Advances to director
£

At 31 December 2023
£

S P Rudkin

48,364

1,213

49,577