10 false false false false false false false false false true false false false false false false No description of principal activity 2022-02-01 Sage Accounts Production Advanced 2021 - FRS102_2021 24,324 24,324 xbrli:pure xbrli:shares iso4217:GBP 06750769 2022-02-01 2023-01-31 06750769 2023-01-31 06750769 2022-01-31 06750769 2021-02-01 2022-01-31 06750769 2022-01-31 06750769 core:NetGoodwill 2022-02-01 2023-01-31 06750769 core:LandBuildings core:LongLeaseholdAssets 2022-02-01 2023-01-31 06750769 core:PlantMachinery 2022-02-01 2023-01-31 06750769 core:FurnitureFittings 2022-02-01 2023-01-31 06750769 core:MotorVehicles 2022-02-01 2023-01-31 06750769 bus:Director2 2022-02-01 2023-01-31 06750769 core:NetGoodwill 2023-01-31 06750769 core:LandBuildings core:LongLeaseholdAssets 2022-01-31 06750769 core:PlantMachinery 2022-01-31 06750769 core:FurnitureFittings 2022-01-31 06750769 core:MotorVehicles 2022-01-31 06750769 core:LandBuildings core:LongLeaseholdAssets 2023-01-31 06750769 core:PlantMachinery 2023-01-31 06750769 core:FurnitureFittings 2023-01-31 06750769 core:MotorVehicles 2023-01-31 06750769 core:WithinOneYear 2023-01-31 06750769 core:WithinOneYear 2022-01-31 06750769 core:AfterOneYear 2023-01-31 06750769 core:AfterOneYear 2022-01-31 06750769 core:ShareCapital 2023-01-31 06750769 core:ShareCapital 2022-01-31 06750769 core:RetainedEarningsAccumulatedLosses 2023-01-31 06750769 core:RetainedEarningsAccumulatedLosses 2022-01-31 06750769 core:LandBuildings core:LongLeaseholdAssets 2022-01-31 06750769 core:PlantMachinery 2022-01-31 06750769 core:FurnitureFittings 2022-01-31 06750769 core:MotorVehicles 2022-01-31 06750769 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2023-01-31 06750769 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2022-01-31 06750769 bus:Director2 2022-01-31 06750769 bus:Director2 2023-01-31 06750769 bus:Director2 2021-01-31 06750769 bus:Director2 2022-01-31 06750769 bus:Director2 2021-02-01 2022-01-31 06750769 bus:SmallEntities 2022-02-01 2023-01-31 06750769 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 06750769 bus:FullAccounts 2022-02-01 2023-01-31 06750769 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 06750769 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31
COMPANY REGISTRATION NUMBER: 06750769
ELECTROTEC SECURITY & ELECTRICAL LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 January 2023
ELECTROTEC SECURITY & ELECTRICAL LIMITED
STATEMENT OF FINANCIAL POSITION
31 January 2023
2023
2022
Note
£
£
£
£
Fixed Assets
Tangible assets
6
138,877
84,607
Current Assets
Stocks
14,000
12,000
Debtors
7
384,017
193,386
Cash at bank and in hand
253
1,764
-----------
-----------
398,270
207,150
Creditors: amounts falling due within one year
8
378,666
201,951
-----------
-----------
Net Current Assets
19,604
5,199
-----------
---------
Total Assets Less Current Liabilities
158,481
89,806
Creditors: amounts falling due after more than one year
9
116,284
86,704
-----------
---------
Net Assets
42,197
3,102
-----------
---------
ELECTROTEC SECURITY & ELECTRICAL LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 January 2023
2023
2022
Note
£
£
£
£
Capital and Reserves
Called up share capital
1,000
1,000
Profit and loss account
41,197
2,102
---------
--------
Shareholders Funds
42,197
3,102
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 16 October 2023 , and are signed on behalf of the board by:
K Emmerson
Director
Company registration number: 06750769
ELECTROTEC SECURITY & ELECTRICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2023
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 6 Helmsley Court, Broadhelm Business Park, Pocklington, York, YO42 1AE.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue Recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
10% straight line
Plant and equipment
-
20% reducing balance
Computer equipment
-
25% straight line
Motor vehicles
-
15% reducing balance
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance Leases and Hire Purchase Contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government Grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 10 (2022: 9 ).
5. Intangible Assets
Goodwill
£
Cost
At 1 February 2022 and 31 January 2023
24,324
---------
Amortisation
At 1 February 2022 and 31 January 2023
24,324
---------
Carrying amount
At 31 January 2023
---------
At 31 January 2022
---------
6. Tangible Assets
Long leasehold property
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 February 2022
8,750
28,992
5,818
112,107
155,667
Additions
6,643
500
130,465
137,608
Disposals
( 89,450)
( 89,450)
--------
---------
--------
-----------
-----------
At 31 January 2023
8,750
35,635
6,318
153,122
203,825
--------
---------
--------
-----------
-----------
Depreciation
At 1 February 2022
7,000
23,973
4,092
35,995
71,060
Charge for the year
1,342
518
16,370
18,230
Disposals
( 24,342)
( 24,342)
--------
---------
--------
-----------
-----------
At 31 January 2023
7,000
25,315
4,610
28,023
64,948
--------
---------
--------
-----------
-----------
Carrying amount
At 31 January 2023
1,750
10,320
1,708
125,099
138,877
--------
---------
--------
-----------
-----------
At 31 January 2022
1,750
5,019
1,726
76,112
84,607
--------
---------
--------
-----------
-----------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 31 January 2023
106,602
-----------
At 31 January 2022
70,123
-----------
7. Debtors
2023
2022
£
£
Trade debtors
259,455
78,750
Other debtors
124,562
114,636
-----------
-----------
384,017
193,386
-----------
-----------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
7,055
22,149
Trade creditors
216,673
67,195
Corporation tax
4,495
Social security and other taxes
50,735
35,409
Other creditors
104,203
72,703
-----------
-----------
378,666
201,951
-----------
-----------
Bank borrowing is secured against the assets of the company. Other creditors include £21,359 (2022-£13,141) for hire purchase liabilities secured against fixed assets.
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
33,333
33,333
Other creditors
82,951
53,371
-----------
---------
116,284
86,704
-----------
---------
Bank borrowing is secured against the assets of the company. Other creditors include £82,951 (2022-£41,570) for hire purchase liabilities secured against fixed assets.
10. Directors' Advances, Credits and Guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
K Emmerson
85,894
2,796
88,690
---------
--------
---------
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
K Emmerson
73,840
12,054
85,894
---------
---------
---------
The balance is interest free and repayable on demand.