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REGISTERED NUMBER: 11841960 (England and Wales)




















ELECTRIFYING LIMITED

Unaudited Financial Statements

for the Year Ended 28 February 2022






ELECTRIFYING LIMITED (REGISTERED NUMBER: 11841960)






Contents of the Financial Statements
FOR THE YEAR ENDED 28 FEBRUARY 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELECTRIFYING LIMITED

Company Information
FOR THE YEAR ENDED 28 FEBRUARY 2022







DIRECTORS: V L Buckley
B Margolis
M J Watts





REGISTERED OFFICE: 3 The Studios
320 Chorley Old Road
Bolton
Lancashire
BL1 4JU





REGISTERED NUMBER: 11841960 (England and Wales)





ACCOUNTANTS: SCCA Limited T/a Stafford & Co
Chartered Accountants
3 The Studios
320 Chorley Old Road
Bolton
Lancashire
BL1 4JU

ELECTRIFYING LIMITED (REGISTERED NUMBER: 11841960)

Balance Sheet
28 FEBRUARY 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 166,700 30,062
Tangible assets 5 3,721 1,074
170,421 31,136

CURRENT ASSETS
Debtors 6 194,953 73,030
Cash at bank 197,204 426,764
392,157 499,794
CREDITORS
Amounts falling due within one year 7 296,100 113,503
NET CURRENT ASSETS 96,057 386,291
TOTAL ASSETS LESS CURRENT
LIABILITIES

266,478

417,427

CREDITORS
Amounts falling due after more than one
year

8

56,250

85,000
NET ASSETS 210,228 332,427

CAPITAL AND RESERVES
Called up share capital 10 39 39
Share premium 673,869 673,869
Retained earnings (463,680 ) (341,481 )
SHAREHOLDERS' FUNDS 210,228 332,427

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 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.

ELECTRIFYING LIMITED (REGISTERED NUMBER: 11841960)

Balance Sheet - continued
28 FEBRUARY 2022


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 11 August 2022 and were signed on its behalf by:





B Margolis - Director


ELECTRIFYING LIMITED (REGISTERED NUMBER: 11841960)

Notes to the Financial Statements
FOR THE YEAR ENDED 28 FEBRUARY 2022

1. STATUTORY INFORMATION

Electrifying 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 the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

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 - 20% straight line

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

ELECTRIFYING LIMITED (REGISTERED NUMBER: 11841960)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 28 FEBRUARY 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2021 39,628
Additions 174,772
At 28 February 2022 214,400
AMORTISATION
At 1 March 2021 9,566
Charge for year 38,134
At 28 February 2022 47,700
NET BOOK VALUE
At 28 February 2022 166,700
At 28 February 2021 30,062

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2021 1,433
Additions 3,330
At 28 February 2022 4,763
DEPRECIATION
At 1 March 2021 359
Charge for year 683
At 28 February 2022 1,042
NET BOOK VALUE
At 28 February 2022 3,721
At 28 February 2021 1,074

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 126,665 70,200
Other debtors 68,288 2,830
194,953 73,030

ELECTRIFYING LIMITED (REGISTERED NUMBER: 11841960)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 28 FEBRUARY 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 25,000 15,000
Trade creditors 133,478 35,976
Taxation and social security 21,834 1,299
Other creditors 115,788 61,228
296,100 113,503

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 56,250 85,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 5,000

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£    £   
Within one year 7,121 6,760
Between one and five years 7,121 12,956
14,242 19,716

10. CALLED UP SHARE CAPITAL




Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
3,875 Ordinary £0.01 39 39

11. ULTIMATE CONTROLLING PARTY

The controlling party is V L Buckley.