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EXPRESS TRANSFORMERS & CONTROLS (2015)
LIMITED

Unaudited Financial Statements

for the Year Ended 31st March 2023






EXPRESS TRANSFORMERS & CONTROLS (2015)
LIMITED (REGISTERED NUMBER: 09411642)






Contents of the Financial Statements
for the year ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EXPRESS TRANSFORMERS & CONTROLS (2015)
LIMITED

Company Information
for the year ended 31st March 2023







DIRECTORS: A Kelly
Mrs S Sage
K Haynes





REGISTERED OFFICE: Picow Farm Road
Runcorn
WA7 4UJ





REGISTERED NUMBER: 09411642 (England and Wales)





ACCOUNTANTS: Haines Watts Wirral Limited
1 Abbots Quay
Monks Ferry
Birkenhead
Merseyside
CH41 5LH

EXPRESS TRANSFORMERS & CONTROLS (2015)
LIMITED (REGISTERED NUMBER: 09411642)

Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 11,493 15,160
11,493 15,160

CURRENT ASSETS
Stocks 201,541 252,791
Debtors 6 334,991 281,880
Cash at bank and in hand 43,747 69,979
580,279 604,650
CREDITORS
Amounts falling due within one year 7 459,448 475,548
NET CURRENT ASSETS 120,831 129,102
TOTAL ASSETS LESS CURRENT LIABILITIES 132,324 144,262

CREDITORS
Amounts falling due after more than one
year

8

(26,875

)

(36,461

)

PROVISIONS FOR LIABILITIES (2,184 ) (2,880 )
NET ASSETS 103,265 104,921

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 103,165 104,821
SHAREHOLDERS' FUNDS 103,265 104,921

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

EXPRESS TRANSFORMERS & CONTROLS (2015)
LIMITED (REGISTERED NUMBER: 09411642)

Balance Sheet - continued
31st March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th November 2023 and were signed on its behalf by:





Mrs S Sage - Director


EXPRESS TRANSFORMERS & CONTROLS (2015)
LIMITED (REGISTERED NUMBER: 09411642)

Notes to the Financial Statements
for the year ended 31st March 2023

1. STATUTORY INFORMATION

Express Transformers & Controls (2015) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


EXPRESS TRANSFORMERS & CONTROLS (2015)
LIMITED (REGISTERED NUMBER: 09411642)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transition price, less any impairment. Loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors
Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to/from related parties.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2022 - 37 ) .

EXPRESS TRANSFORMERS & CONTROLS (2015)
LIMITED (REGISTERED NUMBER: 09411642)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2022
and 31st March 2023 100,000
AMORTISATION
At 1st April 2022
and 31st March 2023 100,000
NET BOOK VALUE
At 31st March 2023 -
At 31st March 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1st April 2022
and 31st March 2023 66,728 15,708 82,436
DEPRECIATION
At 1st April 2022 58,128 9,148 67,276
Charge for year 2,027 1,640 3,667
At 31st March 2023 60,155 10,788 70,943
NET BOOK VALUE
At 31st March 2023 6,573 4,920 11,493
At 31st March 2022 8,600 6,560 15,160

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 330,275 275,353
Other debtors 4,716 6,527
334,991 281,880

EXPRESS TRANSFORMERS & CONTROLS (2015)
LIMITED (REGISTERED NUMBER: 09411642)

Notes to the Financial Statements - continued
for the year ended 31st March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,606 9,606
Trade creditors 109,061 83,915
Taxation and social security 53,751 62,219
Other creditors 287,030 319,808
459,448 475,548

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 26,875 36,461

9. RELATED PARTY DISCLOSURES

Included in other creditors is the sum of £46,056 (2022 - £51,056) owing to Mr A Kelly, a director of the company.

Further included in other creditors is the sum of £580 (2022 - £580) owing to Mrs S Sage, a director of the company.