Registered number
13242775
Sense Electra Britannia Ltd
Filleted Accounts
31 March 2023
Sense Electra Britannia Ltd
Registered number: 13242775
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 369,358 376,296
Current assets
Debtors 4 229,681 154,824
Cash at bank and in hand 831,675 288,504
1,061,356 443,328
Creditors: amounts falling due within one year 5 (736,011) (295,424)
Net current assets 325,345 147,904
Total assets less current liabilities 694,703 524,200
Creditors: amounts falling due after more than one year 6 (687,478) (502,939)
Net assets 7,225 21,261
Capital and reserves
Called up share capital 1 1
Profit and loss account 7,224 21,260
Shareholder's funds 7,225 21,261
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
E Rustacher
Director
Approved by the board on 5 October 2023
Sense Electra Britannia Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery at 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 418,107
Additions 39,717
At 31 March 2023 457,824
Depreciation
At 1 April 2022 41,811
Charge for the year 46,655
At 31 March 2023 88,466
Net book value
At 31 March 2023 369,358
At 31 March 2022 376,296
4 Debtors 2023 2022
£ £
Trade debtors 84,613 -
Accrued income 99,697 25,573
VAT ` - 45,366
Prepayments 45,371 83,885
229,681 154,824
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 96,912 167,038
Amounts owed to group undertakings and undertakings in which the company has a participating interest 600,000 115,000
Other taxes and social security 7,103 -
Accruals 31,996 13,386
736,011 295,424
6 Creditors: amounts falling due after one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 687,478 502,939
7 Other information
Sense Electra Britannia Ltd is a private company limited by shares and incorporated in England. Its registered office is:
No 1 Royal Exchange
London
EC3V 3DG
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