REGISTERED NUMBER: 03162644 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

COUNTRYWIDE ELECTRICAL SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D J Harrison

J A Collins

A J McCabe

SECRETARY:

J A Collins

REGISTERED OFFICE:

Charter House

161 Newhall Street

Birmingham

West Midlands

B3 1SW

REGISTERED NUMBER:

03162644 (England and Wales)

AUDITORS:

Prime

Chartered Accountants

Statutory Auditor

161 Newhall Street

Birmingham

B3 1SW

FIXED ASSETS

Tangible assets

4

28,326

46,230

CURRENT ASSETS

Stocks

410,385

610,560

Debtors

5

2,706,795

1,443,015

Cash at bank and in hand

134,208

42,747

3,251,388

2,096,322

CREDITORS

Amounts falling due within one year

6

2,462,638

1,470,650

NET CURRENT ASSETS

788,750

625,672

TOTAL ASSETS LESS CURRENT LIABILITIES

817,076

671,902

CREDITORS

Amounts falling due after more than one year

7

(14,264

)

(41,899

)

PROVISIONS FOR LIABILITIES

-

(3,961

)

NET ASSETS

802,812

626,042

CAPITAL AND RESERVES

Called up share capital

200,000

200,000

Retained earnings

602,812

426,042

SHAREHOLDERS' FUNDS

802,812

626,042

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 November 2025 and were signed on its behalf by:

A J McCabe - Director

1.	STATUTORY INFORMATION

Countrywide Electrical Services Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents net invoiced sales of goods and services, excluding value added tax. Revenue is recognised on the completion of each stage of work during a contract. Profit is taken on those contracts, the outcome of which can reasonably be foreseen, in proportion to the stage of completion reached. This is calculated on cost incurred as a percentage of estimated cost at completion. Provision is made for any foreseeable losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

33.33% on cost

Motor vehicles

-

at varying rates on cost

Stocks

Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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 and loss in the period to which they relate. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2024 - 57 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 March 2024

56,156

230,627

286,783

Additions

9,788

-

9,788

At 28 February 2025

65,944

230,627

296,571

DEPRECIATION

At 1 March 2024

40,976

199,577

240,553

Charge for year

10,296

17,396

27,692

At 28 February 2025

51,272

216,973

268,245

NET BOOK VALUE

At 28 February 2025

14,672

13,654

28,326

At 29 February 2024

15,180

31,050

46,230

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 March 2024

and 28 February 2025

69,587

DEPRECIATION

At 1 March 2024

38,537

Charge for year

17,396

At 28 February 2025

55,933

NET BOOK VALUE

At 28 February 2025

13,654

At 29 February 2024

31,050

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

2,630,011

1,413,157

Other debtors

76,784

29,858

2,706,795

1,443,015

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

25,000

25,000

Hire purchase contracts

2,635

13,335

Trade creditors

1,511,392

864,939

Amounts owed to group undertakings

495,193

343,330

Taxation and social security

243,063

88,178

Other creditors

185,355

135,868

2,462,638

1,470,650

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

14,264

39,264

Hire purchase contracts

-

2,635

14,264

41,899

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

39,264

64,264

Hire purchase contracts

2,635

15,970

41,899

80,234

The bank loan ("CBIL") is secured by way of a fixed and floating charge, given by the company's parent company, MCD Holdings (UK) Limited, covering all the property or undertaking of the company.

Further, The Secretary of State for Business, Energy and Industrial Strategy has provided a partial guarantee of 80% against the outstanding CBIL.

The hire purchase liabilities are secured by way of a fixed and floating charge against the assets to which they relate.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion

The comparatives for the financial statements to 29 February 2024 contain a stock value of £610,560. Our audit procedures were unable to confirm that stock with a value of £549,166 within this stock figure, has been valued 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 to 28 February 2025 contain a stock value of £410,385. Our audit procedures were unable to confirm that stock with a value of £260,874 within this stock figure, has been valued 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

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 Auditors' 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 qualified opinion.

Jeremy Kitson BA FCA (Senior Statutory Auditor)

for and on behalf of Prime

10.	RELATED PARTY DISCLOSURES

Transactions with company's ultimate parent during the year involved a charge for rent of £107,408 (2024: £107,408) and management charges of £40,000 (2024: £40,000). As at the year end £495,193 was owed to MCD Holdings (UK) Limited (2024: £343,330).

Included in administrative expenses is rent of £30,000 (2024: £30,000), payable to a pension scheme of which A J McCabe, T J McCabe and J A Collins are Trustees and Members. At the year end, a balance of £Nil (2024: £Nil) was owed to the scheme by the company.

11.	ULTIMATE CONTROLLING PARTY

The company's ultimate parent undertaking is MCD Holdings (UK) Limited, whose registered office is Charter House, 161 Newhall Street, Birmingham, B3 1SW.