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Registration number: 4650354

Richardson Electrical (UK) Ltd
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2025

Richardson Electrical (UK) Ltd

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Financial Statements | 4 to 11

Richardson Electrical (UK) Ltd

Company Information

Directors | G J Richardson C A Richardson G Richardson

Company secretary | G Richardson

Registered office | Kingfisher Court Plaxton Bridge Road Woodmansey Beverley HU17 0RT

Richardson Electrical (UK) Ltd

(Registration number: 4650354)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 4 | - | 1,500
Tangible assets | 5 | 471,199 | 393,833
|  | 471,199 | 395,333
Current assets |  |  |
Stocks | 6 | 81,920 | 72,145
Debtors | 7 | 1,566,895 | 1,683,091
Cash at bank and in hand |  | 349,779 | 441,732
|  | 1,998,594 | 2,196,968
Creditors: Amounts falling due within one year | 8 | (1,534,298) | (1,749,919)
Net current assets |  | 464,296 | 447,049
Total assets less current liabilities |  | 935,495 | 842,382
Creditors: Amounts falling due after more than one year | 8 | (317,779) | (261,508)
Provisions for liabilities |  | (53,326) | (31,080)
Net assets |  | 564,390 | 549,794
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | 564,290 | 549,694
Shareholders' funds |  | 564,390 | 549,794

For the financial year ending 31 March 2025 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 accounts for the year in question in accordance with section 476; and
• | The Directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 Board on 9 September 2025 and signed on its behalf by:

Richardson Electrical (UK) Ltd

(Registration number: 4650354)
Balance Sheet as at 31 March 2025

......................................... C A Richardson Director

Richardson Electrical (UK) Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

1 | General information

The company is a private company limited by share capital incorporated in England and the company registration number is 4650354.

The address of its registered office is:
Kingfisher Court
Plaxton Bridge Road
Woodmansey
Beverley
HU17 0RT

The principal place of business is:
921 Hedon Road
Delhi Street
Hull
HU9 5QP

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 (including Section 1A) - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of electrical 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.

Richardson Electrical (UK) Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position 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.
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss has been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account.

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
Motor vehicles | 20% straight line
Fixtures and fittings | 10% straight line
Computer and office equipment | 33% straight line
Plant and machinery | 10% straight line
Freehold land and buildings | 2% straight line

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.

Richardson Electrical (UK) Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

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 straight line
Other intangibles | Over 5 years straight line

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 services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price less provision for irrecoverable debts. A provision for the irrecoverable debts 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.

Richardson Electrical (UK) Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

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.

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.

Richardson Electrical (UK) Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

3 | Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 35 (2024 - 35).

4 | Intangible assets

| Goodwill £ | Trademarks, patents and licenses £ | Total £
Cost or valuation
At 1 April 2024 | 221,354 | 16,521 | 237,875
At 31 March 2025 | 221,354 | 16,521 | 237,875
Amortisation
At 1 April 2024 | 221,354 | 15,021 | 236,375
Amortisation charge | - | 1,500 | 1,500
At 31 March 2025 | 221,354 | 16,521 | 237,875
Carrying amount
At 31 March 2025 | - | - | -
At 31 March 2024 | - | 1,500 | 1,500

5 | Tangible assets

| Land and buildings £ | Fixtures and fittings £ | Plant and machinery £ | Office equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 1 April 2024 | 341,302 | 6,400 | 29,289 | 25,342 | 213,881 | 616,214
Additions | - | 338 | 3,412 | 4,863 | 120,380 | 128,993
Disposals | - | - | - | - | (69,824) | (69,824)
At 31 March 2025 | 341,302 | 6,738 | 32,701 | 30,205 | 264,437 | 675,383
Depreciation
At 1 April 2024 | 24,460 | 3,390 | 18,018 | 23,579 | 152,934 | 222,381
Charge for the year | 6,826 | 514 | 2,182 | 3,013 | 33,159 | 45,694
Eliminated on disposal | - | - | - | - | (63,891) | (63,891)
At 31 March 2025 | 31,286 | 3,904 | 20,200 | 26,592 | 122,202 | 204,184
Carrying amount
At 31 March 2025 | 310,016 | 2,834 | 12,501 | 3,613 | 142,235 | 471,199
At 31 March 2024 | 316,842 | 3,010 | 11,271 | 1,763 | 60,947 | 393,833

Richardson Electrical (UK) Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Included within the net book value of land and buildings above is £310,016 (2024 - £316,842) in respect of freehold land and buildings.

6 | Stocks

| 2025 £ | 2024 £
Other inventories | 81,920 | 72,145

7 | Debtors

| 2025 £ | 2024 £
Trade debtors | 868,055 | 997,171
Prepayments | 4,968 | 3,763
Other debtors | 693,872 | 682,157
| 1,566,895 | 1,683,091

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 9 | 559,215 | 462,933
Trade creditors |  | 560,438 | 838,144
Taxation and social security |  | 250,099 | 254,954
Accruals and deferred income |  | 21,490 | 23,923
Other creditors |  | 143,056 | 169,965
|  | 1,534,298 | 1,749,919

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 9 | 317,779 | 261,508

Richardson Electrical (UK) Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

9 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 130,236 | 160,523
Bank overdrafts | 402,006 | 280,372
Hire purchase contracts | 26,973 | 22,038
| 559,215 | 462,933

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 228,567 | 246,389
Hire purchase contracts | 89,212 | 15,119
| 317,779 | 261,508

The bank loan with an outstanding balance of £120,054 is secured on the freehold land and buildings. The business interruption loan with an outstanding balance of £70,000 is unsecured. The flexiwise loan with an outstanding balance of £168,750 is unsecured. The obligations under finance lease and hire purchase contracts are secured on the assets they relate to. The invoice finance account, shown as bank overdrafts, is secured on the trade debtors.

Borrowings due after five years
A loan balance of £82,447 is due after 5 years.

10 | Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £107,402 (2024 - £148,216).

11 | Related party transactions

2025 | At 1 April 2024 £ | Advances to Director £ | Repayments by Director £ | At 31 March 2025 £
C A Richardson
Unsecured, interest free and repayable on demand | 189,740 | 232,427 | (223,189) | 198,978
G J Richardson
Unsecured, interest free and repayable on demand | 185,903 | 235,240 | (219,864) | 201,279
G Richardson
Unsecured, interest free and repayable on demand | 47,256 | 54,762 | (55,339) | 46,679

Richardson Electrical (UK) Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Other transactions with Directors

G Richardson
At the year end, the director owed the company £46,679 (2024: £47,256). This amount is unsecured, interest free and repayable on demand.
G Richardson
At the year end, the director owed the company £201,279 (2024: £185,903). This amount is unsecured, interest free and repayable on demand.
C Richardson
At the year end, the director owed the company £198,978 (2024: £189,740). This amount is unsecured, interest free and repayable on demand.

Summary of transactions with other related parties

The company was owed £Nil (2024: £8,719) from E Richardson (relative of shareholders).
The company was owed £53,410 (2024: £64,695) from P Richardson (shareholder).
These sums are unsecured, interest free and repayable on demand.