REGISTERED NUMBER: 05455330 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

FOR

NORCROFT ELECTRICAL LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Philip Mosley

Sally Joanne Mosley

REGISTERED OFFICE:

16 Omega Business Village

Thurston Road

Northallerton

North Yorkshire

DL6 2NJ

REGISTERED NUMBER:

05455330 (England and Wales)

ACCOUNTANTS:

Walter Dawson & Son

Chartered Accountants

16 Omega Business Village

Thurston Road

Northallerton

North Yorkshire

DL6 2NJ

FIXED ASSETS

Tangible assets

4

140,626

116,855

CURRENT ASSETS

Stocks

4,100

3,995

Debtors

5

44,619

46,817

Cash at bank and in hand

104,651

157,081

153,370

207,893

CREDITORS

Amounts falling due within one year

6

149,124

166,890

NET CURRENT ASSETS

4,246

41,003

TOTAL ASSETS LESS CURRENT LIABILITIES

144,872

157,858

CREDITORS

Amounts falling due after more than one year

7

(8,035

)

(35,644

)

PROVISIONS FOR LIABILITIES

(35,156

)

(29,214

)

NET ASSETS

101,681

93,000

CAPITAL AND RESERVES

Called up share capital

150

150

Profit and loss account

101,531

92,850

101,681

93,000

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 22 September 2025 and were signed on its behalf by:

Philip Mosley - Director

1.	STATUTORY INFORMATION

Norcroft Electrical 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.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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 Profit and Loss Account, 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.

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.

Income recognition

Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them.

Hire purchase commitments

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

Tangible fixed assets acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future charges, are included in creditors.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 June 2024

62,071

192,725

254,796

Additions

12,525

42,761

55,286

At 31 May 2025

74,596

235,486

310,082

DEPRECIATION

At 1 June 2024

48,961

88,980

137,941

Charge for year

4,688

26,827

31,515

At 31 May 2025

53,649

115,807

169,456

NET BOOK VALUE

At 31 May 2025

20,947

119,679

140,626

At 31 May 2024

13,110

103,745

116,855

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

29,463

43,549

Other debtors

15,156

3,268

44,619

46,817

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,000

11,160

Hire purchase contracts

20,099

21,430

Trade creditors

46,874

49,672

Taxation and social security

16,933

31,082

Other creditors

55,218

53,546

149,124

166,890

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

1,667

10,507

Hire purchase contracts

6,368

25,137

8,035

35,644

The obligations under finance leases and hire purchase contracts are secured by a charge on the assets purchased under these agreements.

The company has a bounce back loan of £11,667 (2024: £21,667) which is unsecured but it is supported by a government guarantee.

8.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the pension scheme are

held separately from those of the company in an independently administered fund. The pension cost

represents contributions payable by the company to the fund and amounted to £22,426 (2024:

£42,374). Contributions totalling £442 (2024: £458 were payable to the fund at the year end and are

included in creditors.