Kelectro Energy Limited 12456846 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is Electrical Insulation Digita Accounts Production Advanced 6.30.9574.0 true 12456846 2022-03-01 2023-02-28 12456846 2023-02-28 12456846 bus:OrdinaryShareClass1 2023-02-28 12456846 bus:OrdinaryShareClass2 2023-02-28 12456846 bus:OrdinaryShareClass3 2023-02-28 12456846 core:CurrentFinancialInstruments 2023-02-28 12456846 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 12456846 core:FurnitureFittingsToolsEquipment 2023-02-28 12456846 bus:SmallEntities 2022-03-01 2023-02-28 12456846 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 12456846 bus:FullAccounts 2022-03-01 2023-02-28 12456846 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 12456846 bus:RegisteredOffice 2022-03-01 2023-02-28 12456846 bus:Director1 2022-03-01 2023-02-28 12456846 bus:Director2 2022-03-01 2023-02-28 12456846 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 12456846 bus:OrdinaryShareClass2 2022-03-01 2023-02-28 12456846 bus:OrdinaryShareClass3 2022-03-01 2023-02-28 12456846 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 12456846 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 12456846 core:OfficeEquipment 2022-03-01 2023-02-28 12456846 core:PlantMachinery 2022-03-01 2023-02-28 12456846 countries:AllCountries 2022-03-01 2023-02-28 12456846 2022-02-28 12456846 core:FurnitureFittingsToolsEquipment 2022-02-28 12456846 2021-03-01 2022-02-28 12456846 2022-02-28 12456846 bus:OrdinaryShareClass1 2022-02-28 12456846 bus:OrdinaryShareClass2 2022-02-28 12456846 bus:OrdinaryShareClass3 2022-02-28 12456846 core:CurrentFinancialInstruments 2022-02-28 12456846 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 12456846 core:FurnitureFittingsToolsEquipment 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12456846

Kelectro Energy Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Kelectro Energy Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Kelectro Energy Limited

Company Information

Directors

K M Lewis

L M Lewis

Registered office

Herbert Lewis Williams & Associates
Leigh Court Business Centre
Abbots Leigh
Bristol
BS8 3RA

Accountants

Herbert Lewis Williams & Associates Limited
Chartered Certified Accountants
Leigh Court Business Centre
Abbots Leigh
Bristol
BS8 3RA

 

Kelectro Energy Limited

(Registration number: 12456846)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,390

2,952

Current assets

 

Stocks

5

1,088

-

Debtors

6

724

179

Cash at bank and in hand

 

10,615

24,322

 

12,427

24,501

Creditors: Amounts falling due within one year

7

(1,845)

(5,515)

Net current assets

 

10,582

18,986

Net assets

 

12,972

21,938

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

12,872

21,838

Shareholders' funds

 

12,972

21,938

For the financial year ending 28 February 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 8 November 2023 and signed on its behalf by:
 

.........................................
K M Lewis
Director

 

Kelectro Energy Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The address of its registered office is:
Herbert Lewis Williams & Associates
Leigh Court Business Centre
Abbots Leigh
Bristol
BS8 3RA

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Kelectro Energy Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

Straight line - 15%

Office equipment

Straight line - 20%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Kelectro Energy Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Kelectro Energy Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2022

3,414

3,414

Additions

124

124

At 28 February 2023

3,538

3,538

Depreciation

At 1 March 2022

462

462

Charge for the year

686

686

At 28 February 2023

1,148

1,148

Carrying amount

At 28 February 2023

2,390

2,390

At 28 February 2022

2,952

2,952

5

Stocks

2023
£

2022
£

Other inventories

1,088

-

6

Debtors

Current

2023
£

2022
£

Other debtors

724

179

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

239

2,707

Accruals and deferred income

1,250

1,000

Other creditors

356

1,808

1,845

5,515

 

Kelectro Energy Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A shares of £1 each

20

20

20

20

Ordinary B shares of £1 each

50

50

50

50

Ordinary C shares of £1 each

30

30

30

30

 

100

100

100

100