Round Oak Electrical Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01699836

Round Oak Electrical Limited

Filleted Unaudited Financial Statements

31 March 2025

Round Oak Electrical Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	42,499	32,465

Current assets

Stocks		6,000	6,000
Debtors	6	82,164	85,722
Cash at bank and in hand		8,562	26,545
		--------	---------
		96,726	118,267

Creditors: amounts falling due within one year	7	90,916	88,653
		--------	---------
Net current assets		5,810	29,614
		--------	--------
Total assets less current liabilities		48,309	62,079

Creditors: amounts falling due after more than one year	8	2,500	12,500

Provisions	9,621	6,778
	--------	--------
Net assets	36,188	42,801
	--------	--------

Capital and reserves

Called up share capital	10	150	150
Capital redemption reserve		150	150
Profit and loss account		35,888	42,501
		--------	--------
Shareholders funds		36,188	42,801
		--------	--------

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 statement of income and retained earnings 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 .

Round Oak Electrical Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 2 January 2026 , and are signed on behalf of the board by:

Mr M Williams
Director

Company registration number: 01699836

Round Oak Electrical Limited

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 3E Addison Road, Brierley Hill, West Midlands, DY5 3RY, England.

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 and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a small entity as defined in FRS102 and section 382 of the Companies Act 2006 and has taken advantage of the disclosure exemptions available under paragraph 1A.7 of FRS102.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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
Motor vehicles	-	25% reducing balance
Equipment	-	25% 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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 10 (2024: 9 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 April 2024	4,733	96,790	666	102,189
Additions	–	19,344	–	19,344
Disposals	–	( 13,997)	–	( 13,997)
	-------	---------	----	---------
At 31 March 2025	4,733	102,137	666	107,536
	-------	---------	----	---------
Depreciation
At 1 April 2024	1,447	68,221	56	69,724
Charge for the year	822	7,284	153	8,259
Disposals	–	( 12,946)	–	( 12,946)
	-------	---------	----	---------
At 31 March 2025	2,269	62,559	209	65,037
	-------	---------	----	---------
Carrying amount
At 31 March 2025	2,464	39,578	457	42,499
	-------	---------	----	---------
At 31 March 2024	3,286	28,569	610	32,465
	-------	---------	----	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	78,322	81,370
Prepayments and accrued income	2,340	2,618
Other debtors	1,502	1,734
	--------	--------
	82,164	85,722
	--------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	42,330	57,918
Accruals and deferred income	2,134	2,374
Corporation tax	11,158	6,964
Social security and other taxes	19,314	–
Other creditors	5,980	11,397
	--------	--------
	90,916	88,653
	--------	--------

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

	2025	2024
	£	£
Bank loans and overdrafts	2,500	12,500
	-------	--------

9. Contingent liabilities

There is a fixed charged and set-off agreement lodged at Companies House in favour of Lloyds Bank Plc dated March 2020 relating to a loan held in Round Oak Property Limited, a related party.

At the year end there was an amount of £41,890 (2024: £49,167) outstanding between Round Oak Property and Lloyds Bank Plc, of which Round Oak Electrical Limited is a guarantor.

10. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	150	150	150	150
	----	----	----	----

11. Related party transactions

Round Oak Property Limited During the year rent of £9,600 (2024: £9,600) rent was paid to Round Oak Property Limited, a company in which Mr M Williams is also the sole director and shareholder. At the year end, amounts owed by Round Oak Property Limited totalling £2,192 (2024: £2,034) were written off and expensed to the profit and loss account.