Core Electrical Solutions Ltd - Accounts to registrar (filleted) - small 23.2.5

Core Electrical Solutions Ltd - Accounts to registrar (filleted) - small 23.2.5


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REGISTERED NUMBER: 06121386 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

CORE ELECTRICAL SOLUTIONS LTD

CORE ELECTRICAL SOLUTIONS LTD (REGISTERED NUMBER: 06121386)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CORE ELECTRICAL SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: Mr M Sanders
Mr C Wren
Mrs Y C Wren





SECRETARY: Mr C Wren





REGISTERED OFFICE: 4 Green Lane Business Park
238 Green lane
New Eltham
London
SE9 3TL





REGISTERED NUMBER: 06121386 (England and Wales)





ACCOUNTANTS: Bayar Hughes & Co Ltd
Chartered Certified Accountants
4 Green Lane Business Park
238 Green Lane
New Eltham
London
SE9 3TL

CORE ELECTRICAL SOLUTIONS LTD (REGISTERED NUMBER: 06121386)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,211 1,617

CURRENT ASSETS
Stocks 145,436 16,259
Debtors 5 321,457 348,940
Cash at bank and in hand 1,391 55,885
468,284 421,084
CREDITORS
Amounts falling due within one year 6 254,566 185,238
NET CURRENT ASSETS 213,718 235,846
TOTAL ASSETS LESS CURRENT
LIABILITIES

214,929

237,463

CREDITORS
Amounts falling due after more than one year 7 91,090 28,333
NET ASSETS 123,839 209,130

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 123,739 209,030
SHAREHOLDERS' FUNDS 123,839 209,130

CORE ELECTRICAL SOLUTIONS LTD (REGISTERED NUMBER: 06121386)

BALANCE SHEET - continued
31 AUGUST 2023


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

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

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 May 2024 and were signed on its behalf by:





Mrs Y C Wren - Director


CORE ELECTRICAL SOLUTIONS LTD (REGISTERED NUMBER: 06121386)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Core Electrical Solutions Ltd 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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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 Statement of Income and Retained Earnings, 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.

Research and development
Research and development costs has been identified during both 2019 and 2020 financial years. These costs have been reflected in 2021 accounts as reduction in tax liability due.

Hire purchase and leasing commitments
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 or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 17 ) .

CORE ELECTRICAL SOLUTIONS LTD (REGISTERED NUMBER: 06121386)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022
and 31 August 2023 5,096
DEPRECIATION
At 1 September 2022 3,480
Charge for year 405
At 31 August 2023 3,885
NET BOOK VALUE
At 31 August 2023 1,211
At 31 August 2022 1,616

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 92,959 113,463
Other debtors 228,498 235,477
321,457 348,940

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 48,442 26,667
Trade creditors 20,912 35,539
Taxation and social security 155,522 78,415
Other creditors 29,690 44,617
254,566 185,238

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 34,437 28,333
Other creditors 56,653 -
91,090 28,333