Chris Bailey Electrical Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04915549

Chris Bailey Electrical Ltd

Filleted Unaudited Financial Statements

31 March 2025

Chris Bailey Electrical Ltd

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	147,241	37,581

Current assets

Stocks		2,800	2,800
Debtors	6	235,308	215,220
Cash at bank and in hand		19,420	40,481
		---------	---------
		257,528	258,501

Creditors: amounts falling due within one year	7	251,332	244,790
		---------	---------
Net current assets		6,196	13,711
		---------	--------
Total assets less current liabilities		153,437	51,292

Creditors: amounts falling due after more than one year	8	117,618	50,637
		---------	--------
Net assets		35,819	655
		---------	--------

Capital and reserves

Called up share capital	2	2
Profit and loss account	35,817	653
	--------	----
Shareholders funds	35,819	655
	--------	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the 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.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Chris Bailey Electrical Ltd

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 23 December 2025 , and are signed on behalf of the board by:

Mr C Bailey
Director

Company registration number: 04915549

Chris Bailey Electrical Ltd

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Arbor Road, Croft, Leicestershire, LE9 3GB.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.

Revenue recognition

Turnover is measured at the fair value of the consideration received for goods and services supplied or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue from the provision of goods and services is recognised when the significant risks and rewards of ownership of the goods and services have transferred to the buyer, usually on completion of the work, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	33% straight line
Motor vehicles	-	15% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2024: 2 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2024	4,049	13,111	46,876	64,036
Additions	–	20,648	109,560	130,208
	-------	--------	---------	---------
At 31 March 2025	4,049	33,759	156,436	194,244
	-------	--------	---------	---------
Depreciation
At 1 April 2024	3,586	12,489	10,380	26,455
Charge for the year	122	4,608	15,818	20,548
	-------	--------	---------	---------
At 31 March 2025	3,708	17,097	26,198	47,003
	-------	--------	---------	---------
Carrying amount
At 31 March 2025	341	16,662	130,238	147,241
	-------	--------	---------	---------
At 31 March 2024	463	622	36,496	37,581
	-------	--------	---------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	78,933	48,476
Other debtors	156,375	166,744
	---------	---------
	235,308	215,220
	---------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	31,998	7,797
Trade creditors	34,243	65,382
Corporation tax	22,311	31,820
Social security and other taxes	38,856	46,793
Other creditors	123,924	92,998
	---------	---------
	251,332	244,790
	---------	---------

Bibby Financial Services Limited hold a charge against the company in respect of other creditors amounting to £57,256 (2024: £38,532)

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	38,525	36,229
Other creditors	79,093	14,408
	---------	--------
	117,618	50,637
	---------	--------

9. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr C Bailey	166,744	83,478	( 93,847)	156,375
	---------	--------	--------	---------

	2024
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr C Bailey	137,511	82,851	( 53,618)	166,744
	---------	--------	--------	---------