CDS Electrical Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06236529 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

CDS Electrical Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M Twynham

SECRETARY:

Mrs J A Twynham

REGISTERED OFFICE:

6 Cider Avenue

Quarry Bank

Brierley Hill

West Midlands

DY5 2XP

REGISTERED NUMBER:

06236529 (England and Wales)

ACCOUNTANTS:

Norman C Sands Limited

Chartered Accountants

333 Hagley Road

Pedmore

Stourbridge

West Midlands

DY9 0RF

FIXED ASSETS

Tangible assets

4

9,994

12,628

CURRENT ASSETS

Stocks

425

400

Debtors

5

3,790

6,299

Cash at bank

22,895

35,320

27,110

42,019

CREDITORS

Amounts falling due within one year

6

32,854

36,228

NET CURRENT (LIABILITIES)/ASSETS

(5,744

)

5,791

TOTAL ASSETS LESS CURRENT LIABILITIES

4,250

18,419

CREDITORS

Amounts falling due after more than one year

7

(9,558

)

(15,938

)

PROVISIONS FOR LIABILITIES

(1,899

)

(2,399

)

NET (LIABILITIES)/ASSETS

(7,207

)

82

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(7,209

)

80

SHAREHOLDERS' FUNDS

(7,207

)

82

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 14 June 2023 and were signed by:

Mr M Twynham - Director

1.	STATUTORY INFORMATION

CDS Electrical 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.

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 is measured at the fair value of consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Plant and machinery

-

25% on cost

Motor vehicles

-

20% on reducing balance

Office equipment

-

25% on cost

Government grants

Grants that become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the company with no future related costs are recognised as income in the period in which they become receivable.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

and 31 March 2023

26,016

DEPRECIATION

At 1 April 2022

13,388

Charge for year

2,634

At 31 March 2023

16,022

NET BOOK VALUE

At 31 March 2023

9,994

At 31 March 2022

12,628

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

Plant and

machinery

etc

£

COST

At 1 April 2022

and 31 March 2023

17,871

DEPRECIATION

At 1 April 2022

7,505

Charge for year

2,073

At 31 March 2023

9,578

NET BOOK VALUE

At 31 March 2023

8,293

At 31 March 2022

10,366

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

1,381

5,577

Other debtors

2,409

722

3,790

6,299

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

2,986

2,912

Hire purchase contracts

3,394

3,394

Trade creditors

73

921

Taxation and social security

929

2,845

Other creditors

25,472

26,156

32,854

36,228

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

6,730

9,716

Hire purchase contracts

2,828

6,222

9,558

15,938

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.23

31.3.22

£

£

Hire purchase contracts

6,222

9,616

9.	RELATED PARTY DISCLOSURES

At 31 March 2023 the company owed Mr M Twynham £24,124.

10.	CONTROLLING PARTY

The controlling party is Mr M Twynham.