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REGISTERED NUMBER: 04384889 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH FEBRUARY 2022

FOR

INDUSTRIAL ELECTRONIC CONTROLS LIMITED

INDUSTRIAL ELECTRONIC CONTROLS LIMITED (REGISTERED NUMBER: 04384889)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


INDUSTRIAL ELECTRONIC CONTROLS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2022







DIRECTORS: M Davies
D C Uden





REGISTERED OFFICE: 2 The Links
Herne Bay
Kent
CT6 7GQ





BUSINESS ADDRESS: Pear Tree Cottage
Swanton Street
Bredgar
SITTINGBOURNE
Kent
ME9 8AS





REGISTERED NUMBER: 04384889 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Chartered Accountants
2 The Links
HERNE BAY
Kent
CT6 7GQ

INDUSTRIAL ELECTRONIC CONTROLS LIMITED (REGISTERED NUMBER: 04384889)

BALANCE SHEET
28TH FEBRUARY 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 135,708 161,629

CURRENT ASSETS
Stocks 6 12,000 9,000
Debtors 7 51,384 58,524
Cash at bank and in hand 183,989 122,479
247,373 190,003
CREDITORS
Amounts falling due within one year 8 47,254 27,733
NET CURRENT ASSETS 200,119 162,270
TOTAL ASSETS LESS CURRENT
LIABILITIES

335,827

323,899

CREDITORS
Amounts falling due after more than one
year

9

(32,653

)

(42,202

)

PROVISIONS FOR LIABILITIES (21,381 ) (25,751 )
NET ASSETS 281,793 255,946

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 281,693 255,846
SHAREHOLDERS' FUNDS 281,793 255,946

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

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

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 17th August 2022 and were signed on its behalf by:





D C Uden - Director


INDUSTRIAL ELECTRONIC CONTROLS LIMITED (REGISTERED NUMBER: 04384889)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2022

1. STATUTORY INFORMATION

Industrial Electronic Controls 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 33% on a straight line basis and 10% on a straight line basis
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on a straight line basis and 20% on reducing balance
Motor vehicles - 25% on reducing balance

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 is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

INDUSTRIAL ELECTRONIC CONTROLS LIMITED (REGISTERED NUMBER: 04384889)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2022

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st March 2021 129,545 36,452 19,663 94,033 279,693
Additions - 2,767 4,165 - 6,932
At 28th February 2022 129,545 39,219 23,828 94,033 286,625
DEPRECIATION
At 1st March 2021 49,874 16,438 9,607 42,145 118,064
Charge for year 11,133 5,695 3,053 12,972 32,853
At 28th February 2022 61,007 22,133 12,660 55,117 150,917
NET BOOK VALUE
At 28th February 2022 68,538 17,086 11,168 38,916 135,708
At 28th February 2021 79,671 20,014 10,056 51,888 161,629

6. STOCKS
2022 2021
£    £   
Stocks 5,000 5,000
Work in progress 7,000 4,000
12,000 9,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 48,987 58,106
Prepayments 2,397 418
51,384 58,524

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 8,815 16,131
Trade creditors 8,967 3,954
Tax 16,728 -
Social security and other taxes 8,785 4,043
Directors' current accounts 1,509 1,155
Accrued expenses 2,450 2,450
47,254 27,733

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans - 2-5 years 32,653 42,202

INDUSTRIAL ELECTRONIC CONTROLS LIMITED (REGISTERED NUMBER: 04384889)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2022

10. CALLED UP SHARE CAPITAL




Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
35 Ordinary A £1 35 35
50 Ordinary B £1 50 50
15 Ordinary C £1 15 15
100 100