Kentex Electric (Southern) Limited Accounts






Kentex Electric (Southern) Limited
	Company No. 03524895
		Annual Report and Audited Financial Statements
		31 December 2024




							Pages

Company Information							2
Strategic Report							3
Directors' Report							4 to 5
Auditor's Report							6 to 8
Statement of Comprehensive Income							9
Statement of Financial Position							10
Statement of Changes in Equity							11
Statement of Cash Flows							12
Notes to the Financial Statements							13 to 25

Directors

M. Gasson
G. Marinaro
P.A. Marinaro
T. Marinaro
D. Wallington
G. Williams







































Registered Office

Melbury House
34 Southborough Road
Bickley Bromley
Kent
BR1 2EB

Auditor

Crane & Partners Audit LLP
Leonard House
5-7 Newman Road
Bromley
Kent
BR1 1RJ

The Directors present their strategic report for the year ended 31 December 2024.

Business review

Turnover has increased by 2.16% during the year, as the company continues to show a steady increase in the level of activity. The gross profit margin did drop slightly to 15.66% from the 16.38% achieved in 2023, which was to be expected due to the slightly different make up of the contracts in the year.

The company remains well placed in the market with a broad spectrum of supportive clients with whom the company trades.

The directors are confident that the company will continue to trade profitably in the 2025 & 2026 years.

The directors are continuing to make efforts to broaden their client base and are confident that an impact of these efforts will be seen.

Financial and other key performance indicators:

The KPI's are seen as Turnover, Gross Profit margin, Operating profit and Net Assets

The company's key performance indicators during the year were as follows:

	Key financial performance indicators:	Unit	2024	2023
1	Turnover	£	20,107,584	19,682,546

2	Gross Profit Margin	%	16	16

3	Operating Profit/(Loss)	£	507,541	580,401

4	Net Assets	£	2,435,094	2,399,024










Principal risks and uncertainties

1	The level of activity in the company's sector is dependent upon the general economic climate and business confidence.

2	Enquiries appear to be continuing and the level of activity has shown signs of improvement for both the 2025 & 2026 years.






Signed on behalf of the board

G. Marinaro
Director
23 December 2025

The Directors present their report and the financial statements for the year ended 31 December 2024.

Principal activities

The principal activity of the company during the year under review was that of electrical contractors.

Directors

The Directors who served at any time during the year were as follows:

M. Gasson
G. Marinaro
P.A. Marinaro
T. Marinaro
D. Wallington
G. Williams



































Results and dividends
The profit for the year, after taxation, amounted to £386,070 (2023 : £437,585). Further business review is mentioned in the strategic report. The directors declare dividends of £350,000 (2023 : £400,000) to the shareholders.



















Financial instruments
The company has financial instruments such as cash and bank, trade debtors and trade creditors which directly arise from its operations. The main risks arising from its financial instruments are credit risk and liquidity risk. Management has a credit policy in place and the exposure to credit risk is monitored on an ongoing basis. The company only trades with credit worthy and reputable organisations. Receivable balances are monitored regularly so that the exposure to bad debts is not significant. Liquidity risk is the risk that company will not be able to meet its financial obligations as they fall due. The company maintains a level of cash and cash equivalents deemed adequate by the management to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they fall due.











Statement of directors' responsibilities
The Directors are responsible for preparing the Directors' report and the accounts in accordance with applicable law and regulations.

Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these accounts, the directors are required to:
*	select suitable accounting policies and then apply them consistently;
*	make judgements and estimates that are reasonable and prudent;
*	state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statments; and
*	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure of information to auditor
So far as the directors are aware, there is no relevant audit information of which the company's auditors are unaware and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant information and to establish that the company's auditors are aware of that information.











Signed on behalf of the board

G. Marinaro
Director
23 December 2025

Independent Auditor's Report to the Members of Kentex Electric (Southern) Limited

Opinion
We have audited the financial statements of Kentex Electric (Southern) Limited for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:
	• give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended; • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and • have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibillities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information
The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on Other Matters Prescribed by the Companies Act 2006

In our opinion, based upon the work undertaken in the course of the audit:
	• the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and • the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
	• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
	• the financial statements are not in agreement with the accounting records and returns; or
	• certain disclosures of directors’ remuneration specified by law are not made; or
	• we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Directors’ Responsibilities statement set out on page 4 and 5, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the company and the industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to those laws which have a direct impact on the preparation of the financial statements, such as the Companies Act 2006 and tax legislation. We evaluated management's opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial results and potential management bias towards accounting estimates. Audit procedures included discussions with management, challenging assumptions made by management in their significant accounting estimates and identifying and testing journal entries posted with unusual account combinations. There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material fraud is higher than the risk of not detecting one resulting from error, as fraud may be deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of the auditors report.

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Sarah Rawlins FCA (Senior Statutory Auditor)

For and on behalf of Crane & Partners Audit LLP, Statutory Auditor

Crane & Partners Audit LLP
Leonard House
5 - 7 Newman Road
Bromley
Kent
BR1 1RJ
23 December 2025

for the year ended 31 December 2024

	Notes	2024	2023
		£	£
Revenue	4	20,107,584	19,682,546

Cost of sales		(16,957,829)	(16,457,035)

Gross profit		3,149,755	3,225,511

Distribution costs and selling expenses		(63,324)	(45,025)

Administrative expenses		(2,578,890)	(2,600,085)



Operating profit	5	507,541	580,401



Other interest receivable	8	31,243	10,187



Interest payable and similar charges	9	-	(468)



Profit on ordinary activities before taxation		538,784	590,120

Taxation	10	(152,714)	(152,535)

Profit for the financial year after taxation		386,070	437,585

Other comprehensive income		-	-





Total comprehensive income/(loss)		386,070	437,585

The notes on pages 13 to 25 form part of these financial statements.

at	31 December 2024

Company No.		03524895	Notes	2024	2023
					as restated
				£	£
Fixed assets

	Tangible assets		11	130,569	83,876


				130,569	83,876
Current assets

	Debtors		12	3,220,655	5,077,782

	Cash at bank and in hand			1,621,174	708,026
				4,841,829	5,785,808
Creditors: Amount falling due within one year			13	(1,890,074)	(2,510,145)
Net current assets				2,951,755	3,275,663
Total assets less current liabilities				3,082,324	3,359,539

Provisions for liabilities
	Deferred taxation		14	(32,642)	(20,969)
	Other provisions		14	(614,588)	(939,546)
Net assets				2,435,094	2,399,024

Capital and reserves
	Called up share capital		15	2	2



	Profit and loss account		16	2,435,092	2,399,022

Total equity				2,435,094	2,399,024


The notes on pages 13 to 25 form part of these financial statements.
Approved by the board on 23 December 2025 and signed on its behalf by:
M. Gasson
Director
23 December 2025

for the year ended 31 December 2024

		Share Capital	Retained earnings	Total equity
		£	£	£

	At 1 January 2023	2	2,361,437	2,361,439




	Profit for the period		437,585	437,585

	Dividends		(400,000)	(400,000)





	At 31 December 2023 and 1 January 2024	2	2,399,022	2,399,024




	Profit for the period		386,070	386,070

	Dividends		(350,000)	(350,000)
	At 31 December 2024	2	2,435,092	2,435,094

for the year ended 31 December 2024

		2024	2023
			as restated
		£	£

Cash flows from operating activities
	Operating profit	507,541	580,401

Adjustments for:
	Movement in provisions	(324,958)	(12,217)
	Movement in provisions due to prior year adjustment	-	(204,336)
	Depreciation of property, plant and equipment	31,645	14,935


	Profit on disposal of tangible fixed assets	(15,791)	-



	Decrease/(Increase) in trade and other receivables	1,857,127	(569,571)
	Decrease in trade debtor due to prior year adjustment	-	153,279
	(Decrease)/Increase in trade and other payables	(621,755)	418,373
	Increase in trade creditors due to prior year adjustment	-	51,057

Net cash generated from operations		1,433,809	431,921

	Interest paid	-	(468)
	Income taxes paid	(139,357)	(3,862)

Net cash generated from operating activities		1,294,452	427,591

Cash flows from investing activities
	Proceeds from sales of property, plant and equipment	36,133	1,895
	Payments for property, plant and equipment	(98,680)	(59,706)






	Interest received	31,243	10,187


Net cash used in investing activities		(31,304)	(47,624)

Cash flows from financing activities






	Equity dividends paid	(350,000)	(400,000)


Net cash used in financing activities		(350,000)	(400,000)

Net increase/(decrease) in cash and cash equivalents		913,148	(20,033)

Cash and cash equivalents at the beginning of the year		708,026	728,059

Cash and cash equivalents at the end of the year		1,621,174	708,026

Components of cash and cash equivalents
	Cash and bank balances	1,621,174	708,026


		1,621,174	708,026

for the year ended 31 December 2024

General information

Kentex Electric (Southern) Limited is a private company limited by shares and incorporated in England and Wales.

Its registered number is: 03524895

Its registered office is:

Its trading address is:

Melbury House

Courtyard House

34 Southborough Road

The Square

Bickley Bromley

Lightwater

Kent

Surrey

BR1 2EB

GU18 5SS

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

The financial statements have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Accounting policies

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Tangible fixed assets and depreciation

Land and buildings held and used in the Company's own activities for production and supply of goods or for administrative purposes are stated in the statement of financial position at their revalued amounts. The revalued amounts equate to the fair value at the date of revaluation, less any depreciation or impairment losses subsequently accumulated. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the statement of financial position.

Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve. Depreciation on revalued buildings is charged to profit or loss so as to write off their value, less residual value, over their estimated useful lives, using the straight-line method.

Once a revalued property is sold or retired any attributable revaluation surplus that is remaining in the property revaluation reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to retained earnings unless an asset is derecognised.

Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment
losses. Depreciation on plant and equipment is charged to profit or loss so as to write off their value, over their estimated useful lives, using the straight-line method.

Assets held under finance leases are depreciated in the same manner as owned assets.

At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

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

Leasehold land and buildings

8% Over the life of lease

Motor vehicles

25% Reducing balance

Furniture, fittings and equipment

25% Reducing balance

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Investments in non-convertible preference shares and non-puttable ordinary and preference shares are measured:
• At fair value with changes recognised in the Income Statement if the shares are publicly traded or
their fair value can otherwise be measured reliably;
• At cost less impairment for all other investments.

Financial assets, are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

For all other financial assets, objective evidence of impairment could include:
• significant financial difficulty of the issuer or counterparty; or
• breach of contract, such as a default or delinquency in interest or principal payments; or
• it becoming probable that the borrower will enter bankruptcy or financial re-organisation; or
• the disappearance of an active market for that financial asset because of financial difficulties.

Financial Instruments (Continued)

For certain categories of financial asset, such as trade receivables, assets that are assessed not to be impaired individually are, in addition, assessed for impairment on a collective basis. Objective evidence of impairment for a portfolio of receivables could include the Company's past experience of collecting payments, an increase in the number of delayed payments in the portfolio past the average credit period of 50 days, as well as observable changes in national or local economic conditions that correlate with default on receivables.

For financial assets carried at amortised cost, the amount of the impairment loss recognised is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost, the amount of the impairment loss is measured as the difference between the asset's carrying amount and the present value of the estimated future cash flows discounted at the current market rate of return for a similar financial asset. Such impairment loss will not be reversed in subsequent periods.

The carrying amount of the financial asset is reduced by the impairment loss directly for all financial assets with the exception of trade receivables, where the carrying amount is reduced through the use of an allowance account. When a trade receivable is considered uncollectible, it is written off against the allowance account. Subsequent recoveries of amounts previously written off are credited against
the allowance account. Changes in the carrying amount of the allowance account are recognised in profit or loss.

For financial assets measured at amortised cost, if, in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognised, the previously recognised impairment loss is reversed through profit or loss to the extent that the carrying amount of the investment at the date the impairment is reversed does not exceed what the amortised cost would have been had the impairment not been recognised.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Related parties

For the purposes of these financial statements, a party is considered to be related to the Company if:

• the party has the ability, directly or indirectly, through one or more intermediaries, to control the
Company or exercise significant influence over the company in making financial and operating policy
decisions, or has joint control over the Company;
• the Company and the party are subject to common control;
• the party is an associate of the Company or a joint venture in which the Company is a venturer;
• the party is a member of key management personnel of the Company or the Company’s parent, or a
close family member of such an individual, or is an entity under the control, joint control or
significant influence of such individuals;
• the party is a close family member of a party referred to in (i) or is an entity under the control, joint
control or significant influence of such individuals; or
• the party is a post-employment benefit plan which is for the benefit of employees of the
Company or of any entity that is a related party of the Company.

Close family members of an individual are those family members who may be expected to influence, or be influenced by, that individual in their dealings with the entity.

Leased assets

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above). Contingent rentals are recognised as expenses in the periods in which they are incurred.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed. Contingent rentals arising under operating leases are recognised as an expense in the period in which they are incurred.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Defined contribution pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.
The contributions are recognised as an expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Income Statement in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and
uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial position.

Critical accounting judgements and key sources of estimation uncertainty

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

In the application of company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision only affects that period, or in the period of the revision and future periods where the revision affects both current and future periods.

4	Revenue Analysis
	Revenue, analysed geographically between markets, was as follows:	2024	2023
		£	£
	United Kingdom	20,107,584	19,682,546



		20,107,584	19,682,546

	Revenue, analysed by category, was as follows:	2024	2023
		£	£


	Electrical contracting & other building services	20,107,584	19,682,546


		20,107,584	19,682,546

5	Operating Profit
			2024	2023
		This is stated after charging:	£	£

		Depreciation of owned fixed assets	31,645	14,719



		Auditors' remuneration for:
		Audit of the company's annual accounts	12,000	8,500
		Accountancy & tax compliance services	16,760	18,181
		Operating lease rentals:
		Land and buildings	5,768	22,460
		Plant and machinery	-	10,303

6	Staff costs
			2024		2023
		Staff costs during the year (including directors) were as follows:	£		£

		Wages and salaries	2,145,962		1,972,505
		Social security costs	167,716		176,927
		Other pension costs	85,489		80,720
		Total in company	2,399,167	36	2,230,152




		Costs in respect of defined contribution schemes	85,489		80,720


		The average monthly number of employees (including directors) during the year was:	Number		Number





			35		37
		Total in company	35		37

7	Directors' remuneration
			2024		2023
		Remuneration included within staff costs - Note 6 - in respect of directors was as follows:	£		£
		Aggregate remuneration in respect of qualifying services	193,585		189,011


		Total remuneration	193,585	1	189,011

8	Interest receivable
			2024	2023
			£	£
		Bank interest receivable	31,243	10,187

			31,243	10,187

9	Interest payable and similar charges
			2024	2023
			£	£
		Bank loan and overdraft interest payable	-	468



			-	468

10	Taxation
		(a) Tax on profit on ordinary activities	2024	2023
		The tax charge is made up as follows:	£	£
		UK corporation tax
		Charge for the period	141,040	139,356

		Total corporation tax	141,040	139,356

		Origination and reversal of timing differences	11,674	13,179

		Total deferred tax	11,674	13,179

		Tax on profit on ordinary activities	152,714	152,535

		(b) Factors affecting the total tax charge for the period
		The tax assessed for the year is higher than the standard rate of corporation tax in the UK of 25% (2023: 23.5%). The differences are reconciled below:
		Higher	2024	2023
		18018	£	£
		Profit on ordinary activities before tax	538,784	590,120

		Standard rate of corporation tax in the United Kingdom	25%	24%

		Profit on ordinary activities multiplied by standard rate of corporation tax in the United Kingdom	134,696	138,678
		Expenses not deductible for tax purposes	6,344	678


		Other short term timing differences	11,674	13,179


		Tax on profit on ordinary activities	152,714	152,535

11	Tangible fixed assets
			Land and buildings	Motor vehicles	Fixtures, fittings and equipment	Total
			£	£	£	£
		Cost or revaluation
		At 1 January 2024	7,500	161,895	74,407	243,802
		Additions	-	94,951	3,729	98,680


		Disposals	-	(79,933)	-	(79,933)
		At 31 December 2024	7,500	176,913	78,136	262,549
		Depreciation and impairment
		At 1 January 2024	7,500	94,390	58,036	159,926
		Charge for the year	-	26,285	5,360	31,645



		Disposals	-	(59,591)	-	(59,591)
		At 31 December 2024	7,500	61,084	63,396	131,980
		Net book values
		At 31 December 2024	-	115,829	14,740	130,569
		At 31 December 2023	-	67,505	16,371	83,876

12	Debtors
			2024	2023
				as restated
			£	£
		Trade debtors	2,391,179	4,296,682
		Amounts owed by group undertakings	286,969	236,941
		Corporation tax recoverable	44,174	44,174

		VAT recoverable	257,832	361,452

		Other debtors	34,098	15,103
		Prepayments and accrued income	206,403	123,430
			3,220,655	5,077,782

13	Creditors:
	amounts falling due within one year
			2024	2023
				as restated
			£	£




		Trade creditors	1,177,552	1,886,297

		Corporation tax	141,040	139,356
		Other taxes and social security	64,659	87,195
		Loans from directors	2,912	2,912
		Other creditors	117,476	115,305
		Accruals and deferred income	386,435	279,080
			1,890,074	2,510,145

14	Provisions for liabilities
		Deferred taxation

			Accelerated capital allowances, losses and other timing differences		Total
			£		£
		At 1 January 2024	20,969		20,969
		Charge to the profit and loss account for the period	11,673		11,673

		At 31 December 2024	32,642		32,642

			2024		2023
			£		£
		Accelerated capital allowances	32,642		20,969


			32,642		20,969

		Other provisions
				Other provisions	Total
				as restated	as restated
				£	£
		At 1 January 2024		939,546	939,546
		Credit for the period		(324,958)	(324,958)
		At 31 December 2024		614,588	614,588

15	Share Capital
		Called-up share capital represents the nominal value of shares that have been issued.	Nominal value	2024	2024	2023
			£	Number	£	£
		Allotted, called up and fully paid:
		Ordinary shares	1	2	2	2







					2	2

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

17	Reconciliation of net debt
			At 1 January 2024	Cash flows	New HP/Finance leases	At 31 December 2024

			£	£	£	£
		Cash and cash equivalents	708,026	913,148		1,621,174

			708,026	913,148	-	1,621,174







		Net debt	708,026	913,148	-	1,621,174

18	Dividends
			2024	2023
			£	£
		Dividends for the period:

		Dividends accrued at the period end	350,000	400,000


		Dividends by type:

		Equity dividends	350,000	400,000
			350,000	400,000

Related party disclosures

The company received vehicle maintenance services in the sum of £20,472 (2023:£7,767) from R D Garage Services Ltd, a company which is controlled by R W Duncan, son in law of G Marinaro. The company also sold one of its used vehicles to R D Garage Services Ltd in the sum of £19,800 (2023:£nil).

The company received sub contract services amounting to £214,171 (2023:£141,524) from C&G Contractors Limited, a company in which T Gasson, brother of M Gasson holds 50% shareholding.

The company received designing services amounting to £1,800 (2023:£8,920) from SPJ Services which is owned by S Jones, brother in law of G Marinaro.

The company received designing services amounting to £2,334,167 (2023:£1,237,137) from Kentex Services LLP which is owned by 5 of the company directors.

As at the year end, the company was owed £284,101 (2023:£234,073) and £2,868 (2023:£2,868) by parent company, Kentex Group Ltd and connected company, Kentex Building Services Ltd respectively.
G Marinaro owed £2,912 (2023:£2,912) to the company as at the year end.

Key management personnel

2024

2023

All directors and certain senior employees who have responsibility for planning directing and controlling the activities of the Company are considered to be key management personnel. Total remuneration in respect of these individuals is:

193,585

189,011

Name of parent company which draws up consolidated financial statements:

Kentex Group Limited

Registered office of parent company:

Melbury House

34 Southborough Road

Bickley Bromley

Kent

BR1 2EB

Prior Year Adjustment

The accounts have been restated to incorporate the changed classification of the warranty provision, trade debtors and creditors.

Adjustment to restate Profit and loss reserves - December 2023

Nil

Reduction in trade debtors

(153,279)

Increase in trade creditors

(51,057)

Reduction in long term provisions

204,336

Increase in Profit after tax originally reported

Nil

Profit and loss reserves originally reported

2,399,022

Restated Profit and loss reserves - December 2023

2,399,022