REGISTERED NUMBER: 13165756 (England and Wales)

GL ELECTRICAL CARDIFF LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R A Lakin

G J Lakin

SECRETARY:

G J Lakin

REGISTERED OFFICE:

Celtic House

Vanguard Way

11-12 Neptune Court

Cardiff

County of Cardiff

CF24 5PJ

REGISTERED NUMBER:

13165756 (England and Wales)

ACCOUNTANTS:

MHA (trading name of MHA Advisory Ltd)

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

County of Cardiff

CF23 8RS

FIXED ASSETS

Tangible assets

4

14,400

18,096

CURRENT ASSETS

Debtors

5

24,751

16,234

Cash at bank

5,496

12,300

30,247

28,534

CREDITORS

Amounts falling due within one year

6

(40,809

)

(43,333

)

NET CURRENT LIABILITIES

(10,562

)

(14,799

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,838

3,297

PROVISIONS FOR LIABILITIES

(1,335

)

-

NET ASSETS

2,503

3,297

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

2,403

3,197

SHAREHOLDERS' FUNDS

2,503

3,297

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2025 and were signed on its behalf by:

G J Lakin - Director

1.	STATUTORY INFORMATION

GL Electrical Cardiff 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.

The company's functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied unless otherwise stated.

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.

There have been no material departures from Financial Reporting Standard 102 1A.

GOING CONCERN

As at 31 January 2025 there were net current liabilities of £10,562 and net assets of £2,503. The directors consider the going concern basis adopted for these financial statements to be appropriate based upon the continued management of day to day working capital.

Turnover

Turnover represents the fair value of services provided under contract during the period under review. Turnover is recognised as contract activity progresses and the right to consideration is earned. Fair value reflects the amount expected to be recoverable from clients and is based on time spent and expenses incurred. Turnover excludes value added tax.

Uninvoiced turnover on individual contracts is included in debtors. Where individual on-account billings exceed revenue recognised on client assignments, the excess is included as deferred income in creditors.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and Fittings

-

25% on cost

Motor vehicles

-

20% on cost

Current taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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

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.

Non-derivative financial instruments

Basic financial instruments are recognised at amortised cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Fittings

vehicles

Totals

£

£

£

COST

At 1 February 2024

and 31 January 2025

370

18,049

18,419

DEPRECIATION

At 1 February 2024

274

49

323

Charge for year

96

3,600

3,696

At 31 January 2025

370

3,649

4,019

NET BOOK VALUE

At 31 January 2025

-

14,400

14,400

At 31 January 2024

96

18,000

18,096

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

10,010

9,394

Other debtors

3,644

100

VAT

339

2,346

Gross amounts due from

customers for contract work

9,200

4,394

Directors' current accounts

1,127

-

Prepayments and accrued income

431

-

24,751

16,234

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

10,645

14,825

Social security and other taxes

1,760

670

Other creditors

27,084

26,588

Accruals and deferred income

1,320

1,250

40,809

43,333

7.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2025 and 31 January 2024:

2025

2024

£

£

R A Lakin

Balance outstanding at start of year

-

-

Amounts advanced

900

-

Amounts repaid

(73

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

827

-

G J Lakin

Balance outstanding at start of year

-

-

Amounts advanced

300

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

300

-

The above loan balances are repayable within nine months of the balance sheet date.

9.	RELATED PARTY DISCLOSURES

R & L Carpentry Penarth Limited is a company jointly owned by R A Lakin.

At 31 January 2025 a loan balance of £18,608 (2024: £23,551) was due to R & L Carpentry Penarth Limited. This balance is included within other creditors.