Registration number: 05086611

Key Electrical Contractors & Storefitters Limited

Contents

Key Electrical Contractors & Storefitters Limited

Company Information

Key Electrical Contractors & Storefitters Limited

Strategic Report

for the Year Ended 30 April 2025

The directors present their strategic report for the year ended 30 April 2025.

Principal activity

The principal activity of the company is that of building, store fitout, commercial roofing, mechanical and electrical contractors.

Fair review of the business

The company has seen a significant decrease in sales this past year mainly due to a reduction in the number of customer planned projects. The increased labour costs and materials across all workstreams has impacted profit margins significantly

The results for the year are set out in the Profit and Loss Account and the KPI's are shown below. A decrease in sales resulted in a 34.6% decrease in Turnover and a decrease in gross profit by 31.2%.

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

The focus on the future is firstly to maintain and improve our services to our existing clients and to continue to work on introductions and relationships with new potential clients increasing turnover and subsequent profit alike.

We are keen to continue with our commitment to improvements in areas of Social, Economic and Environment sustainability.

Despite ongoing pressure on credit terms given to customers, the balance sheet remains strong, with working capital sufficient to cater for planned growth.

Principal risks and uncertainties

The principal risks to the company are directly related to our retail environment we work within. Recent inflationary rising costs on materials, fuel and labour may continue to be challenging over this coming year.

The contractor, client relationships remain strong and we continue to mitigate possible customer risk by seeking to develop relationships with new customers and new work streams.

Key Electrical Contractors & Storefitters Limited

Strategic Report

for the Year Ended 30 April 2025 (continued)

Approved and authorised by the Board on 8 December 2025 and signed on its behalf by:
 

Key Electrical Contractors & Storefitters Limited

Directors' Report

for the Year Ended 30 April 2025

The directors present their report and the financial statements for the year ended 30 April 2025.

Directors of the company

The directors who held office during the year were as follows:

Mr S Samardzija

Mr S J Saddler

Mr G Ingham

Financial instruments and risk management

Price risk, credit risk, liquidity risk and cash flow risk

The company has a level of exposure to price, credit, liquidity and cash flow risk that is normal for the industry. Liquidity has reduced as credit terms offered have increased to market norms. The company has absorbed this without the need for finance and the directors do not foresee an increase in risk in the future.

Future developments

There have been no significant events since the year end.

Research and development

The company does not undertake research and development activity.

Key Electrical Contractors & Storefitters Limited

Directors' Report

for the Year Ended 30 April 2025 (continued)

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, Directors’ Report and the financial statements in accordance with applicable law and regulations.
 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements 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 financial statements 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 financial statements, the directors are required to:

•	make judgements and accounting estimates that are reasonable and prudent;

•	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.

Disclosure of information to the auditors

Approved and authorised by the Board on 8 December 2025 and signed on its behalf by:
 

Key Electrical Contractors & Storefitters Limited

Independent Auditor's Report to the Members of Key Electrical Contractors & Storefitters Limited

Opinion

We have audited the financial statements of Key Electrical Contractors & Storefitters Limited (the 'company') for the year ended 30 April 2025, which comprise the Profit and Loss Account (incorporating the Statement of Income and Retained Earnings), Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, 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, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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 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 company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

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

Key Electrical Contractors & Storefitters Limited

Independent Auditor's Report to the Members of Key Electrical Contractors & Storefitters Limited (continued)

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.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our 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 and the Directors' Report.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities [set out on page 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.

Key Electrical Contractors & Storefitters Limited

Independent Auditor's Report to the Members of Key Electrical Contractors & Storefitters Limited (continued)

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 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are those that relate to:

i) Laws and regulations generally recognized to have a direct effect on the determination of material amounts and disclosures in the financial statements:
• The financial operating framework FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland
• The Companies Act 2006
• Tax legislations – various
• Employment law
• Pension Regulation Authority

ii) Laws and regulations which provides the legal framework within which the company conducts its business and which is central to the company’s ability to conduct its business:
• ISO:9001, ISO: 14001 and OHSAS 18001 certification
• Construction Design and Management Regulations 2015
• NICEIC Regulations

We assessed the risks of material misstatement in respect of fraud through:
i) enquiries with management
ii) review of the company’s Anti-Fraud, Bribery and Corruption Policy
ii) the audit team initial discussions on fraud to identify particular areas that were susceptible to misstatement

Key Electrical Contractors & Storefitters Limited

Independent Auditor's Report to the Members of Key Electrical Contractors & Storefitters Limited (continued)

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above.

The audit team was assessed to have the appropriate competence and capability to identify or recognise non-compliance with laws and regulation.

Our approach to understanding the company’s policies and procedures for compliance with those laws and regulations and to gaining an understanding of how instances of non-compliance with laws and regulations or knowledge of actual, suspected, or alleged fraud is documented was via enquiry with management and obtaining a copy of the company’s Anti-Fraud, Bribery and Corruption Policy.

We corroborated our enquiries through:
i) review of correspondence with HMRC and Companies House (and their respective websites)
ii) review of relevant regulatory websites
iii) review of signed agreements / contracts

Based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relation to fraud. The audit tests implemented involved checks with compliance on various company and employment laws and regulations.

Where there was considered to be a lack of segregation of duty, systems of controls in place were verified through observation and enquiry and substantive testing.

We considered the risk of fraud through management override and, in response, we incorporated testing of manual journal entries and accounting estimates into our audit approach. Any unusual transactions were investigated further and relevant documentary evidence obtained where deemed necessary.

We considered the risk of fraud through the selection and application of accounting policies by the company, particularly those related to subjective measurements and complex transactions, which may be indicative of fraudulent financial reporting resulting from management’s effort to manage earnings. In response, in our audit approach we reviewed the application of accounting policies, in particular those associated with accounting estimates, for reasonableness and correct application within the financial statements.

Audit test sample selection process involves random selection to incorporates an element of unpredictability in the selection of audit procedures.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
 

Key Electrical Contractors & Storefitters Limited

Independent Auditor's Report to the Members of Key Electrical Contractors & Storefitters Limited (continued)

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above.

The audit team was assessed to have the appropriate competence and capability to identify or recognise non-compliance with laws and regulation.

Our approach to understanding the company’s policies and procedures for compliance with those laws and regulations and to gaining an understanding of how instances of non-compliance with laws and regulations or knowledge of actual, suspected, or alleged fraud is documented was via enquiry with management and obtaining a copy of the company’s Anti-Fraud, Bribery and Corruption Policy.

We corroborated our enquiries through:
i) review of correspondence with HMRC and Companies House (and their respective websites)
ii) review of relevant regulatory websites
iii) review of signed agreements / contracts

Based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relation to fraud. The audit tests implemented involved checks with compliance on various company and employment laws and regulations.

Where there was considered to be a lack of segregation of duty, systems of controls in place were verified through observation and enquiry and substantive testing.

We considered the risk of fraud through management override and, in response, we incorporated testing of manual journal entries and accounting estimates into our audit approach. Any unusual transactions were investigated further and relevant documentary evidence obtained where deemed necessary.

We considered the risk of fraud through the selection and application of accounting policies by the company, particularly those related to subjective measurements and complex transactions, which may be indicative of fraudulent financial reporting resulting from management’s effort to manage earnings. In response, in our audit approach we reviewed the application of accounting policies, in particular those associated with accounting estimates, for reasonableness and correct application within the financial statements.

Audit test sample selection process involves random selection to incorporates an element of unpredictability in the selection of audit procedures.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
 

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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 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.

......................................
S Mitchell FCA (Senior Statutory Auditor)
For and on behalf of Lambert Roper & Horsfield Limited, Statutory Auditor
 First Floor
Rosemount House
Huddersfield Road
Elland
West Yorkshire
HX5 0EE

8 December 2025

Key Electrical Contractors & Storefitters Limited

PROFIT AND LOSS ACCOUNT
(Incorporating the Statement of Income and Retained Earnings)

for the Year Ended 30 April 2025

Key Electrical Contractors & Storefitters Limited

Balance Sheet

as at 30 April 2025

Approved and authorised by the Board on 8 December 2025 and signed on its behalf by:
 

(Registration number: 05086611)

Key Electrical Contractors & Storefitters Limited

Statement of Cash Flows

for the Year Ended 30 April 2025

Key Electrical Contractors & Storefitters Limited

Notes to the Financial Statements

for the Year Ended 30 April 2025

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 5C
Roundwood Industrial Estate
Ossett
Wakefield
West Yorkshire
WF5 9SQ

Statement of compliance

Basis of preparation

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Revenue recognition

Key Electrical Contractors & Storefitters Limited

Notes to the Financial Statements

for the Year Ended 30 April 2025 (continued)

Contract revenue recognition

In respect of long term building and maintenance contracts revenue is recognised when all the following conditions are satisfied:

- The amount of revenue can be reliably measured;
- It is probable that the economic benefits associated with the transaction will flow to the entity;
- The stage of completion of the transaction at the end of the reporting period can be measured reliably; and
- The costs incurred for the transaction and the costs to complete the transaction can be measured reliably.

Where all of the conditions are satisfied, revenue is recognised using actual costs and expected profit margins on contracts that are on site at the period end.

If a contract is deemed to be onerous the entire revenue and costs are recognised immediately.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates. Exchange differences are taken into account in arriving at operating profit.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

Key Electrical Contractors & Storefitters Limited

Notes to the Financial Statements

for the Year Ended 30 April 2025 (continued)

Tangible assets

Depreciation

Intangible assets

Amortisation

Key Electrical Contractors & Storefitters Limited

Notes to the Financial Statements

for the Year Ended 30 April 2025 (continued)

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade debtors and bank balances and are all current assets, are initially measured at transaction price including transaction costs and are subsequently measured at the undiscounted amount expected to be received, net of any impairment.

Basic financial liabilities, which comprise of trade creditors falling due within one year, are initially measured at the undiscounted amount expected to be received from that entity, which is usually the invoice price. They are subsequently measured at the undiscounted amount expected to be paid, net of any impairment.
 

Cash at bank

Stocks and work in progress

Leases

Defined contribution pension obligation

Key Electrical Contractors & Storefitters Limited

Notes to the Financial Statements

for the Year Ended 30 April 2025 (continued)

The analysis of the company's revenue for the year from continuing operations is as follows:

The analysis of the company's other operating income for the year is as follows:

Arrived at after charging/(crediting)

Key Electrical Contractors & Storefitters Limited

Notes to the Financial Statements

for the Year Ended 30 April 2025 (continued)

The aggregate payroll costs (including directors' remuneration) were as follows:

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

The directors' remuneration for the year was as follows:

During the year the number of directors who were receiving benefits and share incentives was as follows:

Key Electrical Contractors & Storefitters Limited

Notes to the Financial Statements

for the Year Ended 30 April 2025 (continued)

Key Electrical Contractors & Storefitters Limited

Notes to the Financial Statements

for the Year Ended 30 April 2025 (continued)

Tax charged/(credited) in the profit and loss account

The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of 25% (2024 - 25%).

The differences are reconciled below:

Key Electrical Contractors & Storefitters Limited

Notes to the Financial Statements

for the Year Ended 30 April 2025 (continued)

	Computer software £	Total £
Cost or valuation
At 1 May 2024	23,204	23,204
Additions acquired separately	9,120	9,120
At 30 April 2025	32,324	32,324
Amortisation
At 1 May 2024	7,064	7,064
Amortisation charge	10,617	10,617
At 30 April 2025	17,681	17,681
Carrying amount
At 30 April 2025	14,643	14,643
At 30 April 2024	16,140	16,140

Key Electrical Contractors & Storefitters Limited

Notes to the Financial Statements

for the Year Ended 30 April 2025 (continued)

Included within the net book value of land and buildings above is £359,096 (2024 - £367,646) in respect of freehold land and buildings and £38,213 (2024 - £49,647) in respect of short leasehold land and buildings.
 

Key Electrical Contractors & Storefitters Limited

Notes to the Financial Statements

for the Year Ended 30 April 2025 (continued)

Key Electrical Contractors & Storefitters Limited

Notes to the Financial Statements

for the Year Ended 30 April 2025 (continued)

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £114,585 (2024 - £126,933).

Allotted, called up and fully paid shares

	2025 £	2024 £
Current loans and borrowings
Bank overdrafts	527,544	-

21	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

The amount of non-cancellable operating lease payments recognised as an expense during the year was £69,201 (2024 - £78,301).

Key Electrical Contractors & Storefitters Limited

Notes to the Financial Statements

for the Year Ended 30 April 2025 (continued)

Key management personnel

Key management compensation

Summary of transactions with other related parties

I & S Properties Limited (a company in which G Ingham and S Samardzija are directors and shareholders). The leasehold property occupied by the company is owned by I & S Properties Limited and an open market rent of £50,000 (2024: £50,000) was charged along with the buildings insurance of £1,291 (2024: £1,706).