CIRCUIT LINK ELECTRICAL LTD

CIRCUIT LINK ELECTRICAL LTD

CIRCUIT LINK ELECTRICAL LTD - Company Information

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Company Registration No. 13772739 (England and Wales)
CIRCUIT LINK ELECTRICAL LTD Unaudited accounts for the year ended 30 November 2022
CIRCUIT LINK ELECTRICAL LTD Unaudited accounts Contents
Page
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CIRCUIT LINK ELECTRICAL LTD Company Information for the year ended 30 November 2022
Director
Tahir Sadiq
Company Number
13772739 (England and Wales)
Registered Office
32 HAREFIELD ROAD LUTON BEDFORDSHIRE LU1 1TH UNITED KINGDOM
Accountants
IAB Accountants Limited 200 Selbourne Road Luton Bedfordshire LU4 8LT
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Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of CIRCUIT LINK ELECTRICAL LTD for the year ended 30 November 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of CIRCUIT LINK ELECTRICAL LTD for the year ended 30 November 2022 as set out on pages 5 - 8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of CIRCUIT LINK ELECTRICAL LTD, as a body, in accordance with the terms of our engagement letter dated 24 November 2023. Our work has been undertaken solely to prepare for your approval the accounts of CIRCUIT LINK ELECTRICAL LTD and state those matters that we have agreed to state to the Board of Directors of CIRCUIT LINK ELECTRICAL LTD, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CIRCUIT LINK ELECTRICAL LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that CIRCUIT LINK ELECTRICAL LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of CIRCUIT LINK ELECTRICAL LTD. You consider that CIRCUIT LINK ELECTRICAL LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of CIRCUIT LINK ELECTRICAL LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
IAB Accountants Limited Chartered Certified Accountants 200 Selbourne Road Luton Bedfordshire LU4 8LT 24 November 2023
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CIRCUIT LINK ELECTRICAL LTD Statement of financial position as at 30 November 2022
2022 
Notes
£ 
Called up share capital not paid
1 
Fixed assets
Tangible assets
4
11,228 
Current assets
Debtors
5
1,039 
Cash at bank and in hand
6,134 
7,173 
Creditors: amounts falling due within one year
6
(4,263)
Net current assets
2,910 
Total assets less current liabilities
14,139 
Creditors: amounts falling due after more than one year
7
(6,021)
Provisions for liabilities
Deferred tax
8
(2,133)
Net assets
5,985 
Capital and reserves
Called up share capital
9
1 
Profit and loss account
5,984 
Shareholders' funds
5,985 
For the year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 November 2023 and were signed on its behalf by
Tahir Sadiq Director Company Registration No. 13772739
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CIRCUIT LINK ELECTRICAL LTD Notes to the Accounts for the year ended 30 November 2022
1
Statutory information
CIRCUIT LINK ELECTRICAL LTD is a private company, limited by shares, registered in England and Wales, registration number 13772739. The registered office is 32 HAREFIELD ROAD, LUTON, BEDFORDSHIRE, LU1 1TH, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
- 33% on reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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CIRCUIT LINK ELECTRICAL LTD Notes to the Accounts for the year ended 30 November 2022
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 December 2021
- 
Additions
16,758 
At 30 November 2022
16,758 
Depreciation
Charge for the year
5,530 
At 30 November 2022
5,530 
Net book value
At 30 November 2022
11,228 
5
Debtors
2022 
£ 
Amounts falling due within one year
Accrued income and prepayments
1,039 
6
Creditors: amounts falling due within one year
2022 
£ 
Taxes and social security
969 
Loans from directors
2,399 
Accruals
895 
4,263 
7
Creditors: amounts falling due after more than one year
2022 
£ 
Bank loans
6,021 
8
Deferred taxation
2022 
£ 
Accelerated capital allowances
2,133 
2022 
£ 
Charged to the profit and loss account
2,133 
Provision at end of year
2,133 
9
Share capital
2022 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
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CIRCUIT LINK ELECTRICAL LTD Notes to the Accounts for the year ended 30 November 2022
10
Transactions with related parties
The company was under the control of the director throughout the year. Included in creditors is an amount £2,399 owed to the director by the company. During the year company paid dividend to the director to the value of £7,242.
11
Controlling party
The ultimate controlling party is Tahir Sadiq.
12
Average number of employees
During the year the average number of employees was 1.
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