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REGISTERED NUMBER: 02624904 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2021

for

ELECTRIC GATE CENTRE LIMITED

ELECTRIC GATE CENTRE LIMITED (REGISTERED NUMBER: 02624904)






Contents of the Financial Statements
for the year ended 31 DECEMBER 2021




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


ELECTRIC GATE CENTRE LIMITED

Company Information
for the year ended 31 DECEMBER 2021







DIRECTORS: B R O Dove
J M Dove
N A Dove
A Dove





SECRETARY: B R O Dove





REGISTERED OFFICE: 6-8 Meadow Close
Finedon Road
Wellingborough
Northamptonshire
NN8 4BH





REGISTERED NUMBER: 02624904 (England and Wales)





ACCOUNTANTS: Elsby & Co
Thistledown Barn
Holcot Lane
Sywell
Northampton
Northamptonshire
NN6 0BG

ELECTRIC GATE CENTRE LIMITED (REGISTERED NUMBER: 02624904)

Abridged Balance Sheet
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,337 28,002

CURRENT ASSETS
Stocks 76,448 76,686
Debtors 95,626 130,063
Cash at bank and in hand 71,327 85,367
243,401 292,116
CREDITORS
Amounts falling due within one year 331,820 378,491
NET CURRENT LIABILITIES (88,419 ) (86,375 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(65,082

)

(58,373

)

CREDITORS
Amounts falling due after more than one year (35,000 ) (45,000 )

PROVISIONS FOR LIABILITIES (5,320 ) (5,320 )
NET LIABILITIES (105,402 ) (108,693 )

CAPITAL AND RESERVES
Called up share capital 6 80 80
Retained earnings (105,482 ) (108,773 )
SHAREHOLDERS' FUNDS (105,402 ) (108,693 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

ELECTRIC GATE CENTRE LIMITED (REGISTERED NUMBER: 02624904)

Abridged Balance Sheet - continued
31 DECEMBER 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2022 and were signed on its behalf by:





B R O Dove - Director


ELECTRIC GATE CENTRE LIMITED (REGISTERED NUMBER: 02624904)

Notes to the Financial Statements
for the year ended 31 DECEMBER 2021

1. STATUTORY INFORMATION

Electric Gate Centre 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.

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 etc - 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.

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.

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.

Going concern
The Directors have noted the negative reserves at the balance sheet date. The accounts have been prepared on a going concern basis. In deciding to prepare the accounts on this basis, the Directors have taken account of the continued financial support they and the connected companies are providing to the Company.

3. EMPLOYEES

The average number of employees during the year was 9 (2020 - 9 ) .

ELECTRIC GATE CENTRE LIMITED (REGISTERED NUMBER: 02624904)

Notes to the Financial Statements - continued
for the year ended 31 DECEMBER 2021

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2021 94,805
Additions 2,600
At 31 December 2021 97,405
DEPRECIATION
At 1 January 2021 66,803
Charge for year 7,265
At 31 December 2021 74,068
NET BOOK VALUE
At 31 December 2021 23,337
At 31 December 2020 28,002

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

Totals
£   
COST
At 1 January 2021 13,750
Transfer to ownership (13,750 )
At 31 December 2021 -
DEPRECIATION
At 1 January 2021 9,037
Charge for year 1,178
Transfer to ownership (10,215 )
At 31 December 2021 -
NET BOOK VALUE
At 31 December 2021 -
At 31 December 2020 4,713

5. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Hire purchase contracts - 312

The hire purchase creditor is secured on the assets to which they relate.

ELECTRIC GATE CENTRE LIMITED (REGISTERED NUMBER: 02624904)

Notes to the Financial Statements - continued
for the year ended 31 DECEMBER 2021

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
25 Ordinary £1 25 25
3,000 B Ordinary 1p 30 30
13 C Ordinary £1 13 13
12 D Ordinary £1 12 12
80 80