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COMPANY REGISTRATION NUMBER: 02697046
ERH Communications Limited
Filleted Unaudited Financial Statements
31 May 2023
ERH Communications Limited
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
116,083
13,896
Current assets
Stocks
319,382
449,881
Debtors
6
1,212,481
1,176,326
Cash at bank and in hand
97,315
14
------------
------------
1,629,178
1,626,221
Creditors: amounts falling due within one year
7
1,876,561
1,505,871
------------
------------
Net current (liabilities)/assets
( 247,383)
120,350
---------
---------
Total assets less current liabilities
( 131,300)
134,246
Creditors: amounts falling due after more than one year
8
877,816
1,589,586
------------
------------
Net liabilities
( 1,009,116)
( 1,455,340)
------------
------------
Capital and reserves
Called up share capital
9
10,000
10,000
Profit and loss account
( 1,019,116)
( 1,465,340)
------------
------------
Shareholders deficit
( 1,009,116)
( 1,455,340)
------------
------------
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 income statement has not been delivered.
For the year ending 31 May 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 .
ERH Communications Limited
Statement of Financial Position (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 13 November 2023 , and are signed on behalf of the board by:
Mr JC Mathias
Director
Company registration number: 02697046
ERH Communications Limited
Notes to the Financial Statements
Year ended 31 May 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 Parcau Isaf Farm, Laleston, Bridgend, CF32 0NB.
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.
Going concern
The director is aware that the company's liabilities exceeded its assets at 31 May 2023. The director has considered the company's current financial and trading position and is satisfied that based on the continued support of Centregreat Ltd the company will continue to trade profitably in the future and be able to meet its liabilities as they fall due. The trading position is expected to improve and current financial information supports this view. On this basis the director is satisfied that the going concern basis is appropriate for the preparation of the financial statements.
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.
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:
Fixtures and fittings
-
10% straight line
Motor vehicles
-
10% straight line
Equipment
-
33% straight line
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 79 (2022: 64 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 June 2022
16,350
12,289
28,639
Additions
107,980
107,980
--------
---------
--------
---------
At 31 May 2023
16,350
107,980
12,289
136,619
--------
---------
--------
---------
Depreciation
At 1 June 2022
2,454
12,289
14,743
Charge for the year
1,635
4,158
5,793
--------
---------
--------
---------
At 31 May 2023
4,089
4,158
12,289
20,536
--------
---------
--------
---------
Carrying amount
At 31 May 2023
12,261
103,822
116,083
--------
---------
--------
---------
At 31 May 2022
13,896
13,896
--------
---------
--------
---------
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 May 2023
103,822
---------
At 31 May 2022
---------
6. Debtors
2023
2022
£
£
Trade debtors
774,652
810,814
Other debtors
437,829
365,512
------------
------------
1,212,481
1,176,326
------------
------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,001
196,245
Trade creditors
884,401
524,183
Social security and other taxes
277,253
88,710
Other creditors
704,906
696,733
------------
------------
1,876,561
1,505,871
------------
------------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
22,431
32,407
Other creditors
809,015
1,557,179
Other creditors
46,370
---------
------------
877,816
1,589,586
---------
------------
Included within other creditors is a debt secured by a fixed and floating charge on all assets.
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
10,000
10,000
10,000
10,000
--------
--------
--------
--------