4 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 4,176 167 4,343 2,472 374 2,846 1,497 1,704 xbrli:pure xbrli:shares iso4217:GBP 09070248 2022-02-01 2023-01-31 09070248 2023-01-31 09070248 2022-01-31 09070248 2021-02-01 2022-01-31 09070248 2022-01-31 09070248 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-02-01 2023-01-31 09070248 core:PlantMachinery 2022-02-01 2023-01-31 09070248 core:FurnitureFittings 2022-02-01 2023-01-31 09070248 bus:Director1 2022-02-01 2023-01-31 09070248 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-01-31 09070248 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-31 09070248 core:PlantMachinery 2022-01-31 09070248 core:FurnitureFittings 2022-01-31 09070248 core:PlantMachinery 2023-01-31 09070248 core:FurnitureFittings 2023-01-31 09070248 core:WithinOneYear 2023-01-31 09070248 core:WithinOneYear 2022-01-31 09070248 core:AfterOneYear 2023-01-31 09070248 core:AfterOneYear 2022-01-31 09070248 core:ShareCapital 2023-01-31 09070248 core:ShareCapital 2022-01-31 09070248 core:RetainedEarningsAccumulatedLosses 2023-01-31 09070248 core:RetainedEarningsAccumulatedLosses 2022-01-31 09070248 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-01-31 09070248 core:PlantMachinery 2022-01-31 09070248 core:FurnitureFittings 2022-01-31 09070248 bus:Director1 2022-01-31 09070248 bus:Director1 2023-01-31 09070248 bus:Director1 2021-01-31 09070248 bus:Director1 2022-01-31 09070248 bus:Director1 2021-02-01 2022-01-31 09070248 bus:SmallEntities 2022-02-01 2023-01-31 09070248 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 09070248 bus:FullAccounts 2022-02-01 2023-01-31 09070248 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 09070248 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31
COMPANY REGISTRATION NUMBER: 09070248
Euro Electrical Supplies Limited
Filleted Unaudited Financial Statements
31 January 2023
Euro Electrical Supplies Limited
Statement of Financial Position
31 January 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
1,497
1,704
Tangible assets
6
5,769
7,212
-------
-------
7,266
8,916
Current assets
Stocks
106,942
39,864
Debtors
7
1,698
1,695
Cash at bank and in hand
126,000
109,267
---------
---------
234,640
150,826
Creditors: amounts falling due within one year
8
184,816
97,468
---------
---------
Net current assets
49,824
53,358
--------
--------
Total assets less current liabilities
57,090
62,274
Creditors: amounts falling due after more than one year
9
42,326
50,000
--------
--------
Net assets
14,764
12,274
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
14,664
12,174
--------
--------
Shareholders funds
14,764
12,274
--------
--------
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.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Euro Electrical Supplies Limited
Statement of Financial Position (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 18 August 2023 , and are signed on behalf of the board by:
Mr B S Ghir
Director
Company registration number: 09070248
Euro Electrical Supplies 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 1 Agincourt Villas, Uxbridge Road, Hillingdon, Middlesex, UB10 0NX.
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 for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
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:
Website
-
20% reducing balance
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Plant and machinery
-
20% reducing balance
Fixtures and fittings
-
20% reducing balance
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.
4. Particulars of employees
The average number of persons employed by the company during the year amounted to 4 (2022: 2 ).
5. Intangible assets
Development costs
£
Cost
At 1 February 2022
4,176
Additions
167
-------
At 31 January 2023
4,343
-------
Amortisation
At 1 February 2022
2,472
Charge for the year
374
-------
At 31 January 2023
2,846
-------
Carrying amount
At 31 January 2023
1,497
-------
At 31 January 2022
1,704
-------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 February 2022 and 31 January 2023
12,315
5,923
18,238
--------
-------
--------
Depreciation
At 1 February 2022
7,326
3,700
11,026
Charge for the year
998
445
1,443
--------
-------
--------
At 31 January 2023
8,324
4,145
12,469
--------
-------
--------
Carrying amount
At 31 January 2023
3,991
1,778
5,769
--------
-------
--------
At 31 January 2022
4,989
2,223
7,212
--------
-------
--------
7. Debtors
2023
2022
£
£
Other debtors
1,698
1,695
-------
-------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
6,619
Trade creditors
153,792
80,442
Corporation tax
692
550
Social security and other taxes
2,506
2,223
Other creditors
21,207
14,253
---------
--------
184,816
97,468
---------
--------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
42,326
50,000
--------
--------
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr B S Ghir
( 14,153)
( 2,168)
( 16,321)
--------
-------
--------
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr B S Ghir
( 14,051)
( 102)
( 14,153)
--------
----
--------