REGISTERED NUMBER: 06770043 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

CHUBB ELECTRICS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Chubb

SECRETARY:

Mrs D Chubb

REGISTERED OFFICE:

Ocean Crescent

25 The Crescent

Plymouth

Devon

PL1 3AD

REGISTERED NUMBER:

06770043 (England and Wales)

ACCOUNTANTS:

Batterbee Thompson & Co Ltd

Ocean Crescent

25 The Crescent

Plymouth

Devon

PL1 3AD

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

174,080

165,927

174,080

165,927

CURRENT ASSETS

Stocks

-

3,000

Debtors

6

291,865

399,883

Cash at bank and in hand

152,714

172,532

444,579

575,415

CREDITORS

Amounts falling due within one year

7

318,179

311,370

NET CURRENT ASSETS

126,400

264,045

TOTAL ASSETS LESS CURRENT LIABILITIES

300,480

429,972

CREDITORS

Amounts falling due after more than one year

8

(67,360

)

(114,902

)

PROVISIONS FOR LIABILITIES

(16,493

)

(16,493

)

NET ASSETS

216,627

298,577

CAPITAL AND RESERVES

Called up share capital

1,010

1,010

Retained earnings

215,617

297,567

SHAREHOLDERS' FUNDS

216,627

298,577

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 3 March 2025 and were signed by:

M Chubb - Director

1.	STATUTORY INFORMATION

Chubb Electrics Ltd 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of two years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2023

and 30 September 2024

45,000

AMORTISATION

At 1 October 2023

and 30 September 2024

45,000

NET BOOK VALUE

At 30 September 2024

-

At 30 September 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2023

37,298

284,190

321,488

Additions

-

41,628

41,628

At 30 September 2024

37,298

325,818

363,116

DEPRECIATION

At 1 October 2023

-

155,561

155,561

Charge for year

-

33,475

33,475

At 30 September 2024

-

189,036

189,036

NET BOOK VALUE

At 30 September 2024

37,298

136,782

174,080

At 30 September 2023

37,298

128,629

165,927

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 October 2023

and 30 September 2024

93,234

DEPRECIATION

At 1 October 2023

and 30 September 2024

59,344

NET BOOK VALUE

At 30 September 2024

33,890

At 30 September 2023

33,890

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

105,691

162,982

Other debtors

186,174

236,901

291,865

399,883

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

20,000

20,000

Hire purchase contracts

25,664

25,664

Trade creditors

44,560

78,754

Taxation and social security

154,374

176,667

Other creditors

73,581

10,285

318,179

311,370

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

32,074

53,209

Hire purchase contracts

35,286

61,693

67,360

114,902

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

52,074

73,209

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by the director.