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REGISTERED NUMBER: 05726597 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Encore Electrical Limited

Encore Electrical Limited (Registered number: 05726597)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Encore Electrical Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: S R Hegarty
Mrs F Hegarty





REGISTERED OFFICE: 3 Landmark House
Wirral Park Road
Glastonbury
Somerset
BA6 9FR





REGISTERED NUMBER: 05726597 (England and Wales)

Encore Electrical Limited (Registered number: 05726597)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 15,233 26,266
15,233 26,266

CURRENT ASSETS
Stocks 43,334 3,462
Debtors 6 81,530 155,518
Cash at bank and in hand 185,665 161,807
310,529 320,787
CREDITORS
Amounts falling due within one year 7 85,132 133,849
NET CURRENT ASSETS 225,397 186,938
TOTAL ASSETS LESS CURRENT
LIABILITIES

240,630

213,204

CREDITORS
Amounts falling due after more than one
year

8

(23,333

)

(36,597

)

PROVISIONS FOR LIABILITIES (3,808 ) (4,991 )

ACCRUALS AND DEFERRED INCOME (2,565 ) (2,130 )
NET ASSETS 210,924 169,486

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 210,824 169,386
SHAREHOLDERS' FUNDS 210,924 169,486

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

Encore Electrical Limited (Registered number: 05726597)

Balance Sheet - continued
31 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2023 and were signed on its behalf by:




S R Hegarty - Director



Mrs F Hegarty - Director


Encore Electrical Limited (Registered number: 05726597)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Encore Electrical 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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 31 March 2023 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of transition to FRS 102 Section 1A is 1 April 2021.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.

Where the consideration receivable in cash or cash equivalents is deferred, and the arrangement constitutes a financing transactions, the fair value of the consideration is measured as the present value of all future receipts using the inputed rate of interest.

The Company recognises revenue when the following conditions are satisfied:
i. the Company has transferred to the buyer the significant risks and rewards of ownership of the goods;
ii. the Company retains neither continuing managerial involvement to the degree associated with ownership nor effective control over the goods sold;
iii. the amount of revenue can be measured reliably;
iv. it is probable that the economic benefits associated with the transaction can be measured reliably.

Sale of goods and services
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from customer in advance of services provided the amounts are recorded as deferred income and included as part of creditors due within one year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten 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.

Encore Electrical Limited (Registered number: 05726597)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.

Depreciation and residual values
Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life as follows:

Plant and machinery and tools - straight line over 5 yrs
Office and Computer equipment - straight line over 3 and 5 yrs
Motor vehicles - straight line over 4 yrs

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any changes is accounted for prospectively.

Subsequent additions and major components
Subsequent costs are included in the assets carrying amount or recognised as a separate asset, as appropriate, only when it is probable that economic benefits associated with the item will flow to the company and the cost can be measured reliably.

The carrying amount of any replaced component is derecognised. Major components are treated as a separate asset when they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life.

Repairs and maintenance costs are expensed as incurred.

Derecognition
Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in profit or loss.

Stocks
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Stock is recognised as an expense in the period in which the related revenue is recognised.

At the end of each reporting period stock is assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment is recognised in the profit and loss account. Where a reversal of the impairment is recognised the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.


Encore Electrical Limited (Registered number: 05726597)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively.

Current or deferred taxation assets and liabilities are not discounted.

Current tax
Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amount expected to be paid to the tax authorities.

Deferred tax
Deferred tax arises from timing differences that are differences between taxable profit and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessment in periods different from those in which are recognised in financial statements.

Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised when 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 tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Hire purchase and leasing commitments
Leases that do no transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The obligations are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 65,000
AMORTISATION
At 1 April 2022
and 31 March 2023 65,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

Encore Electrical Limited (Registered number: 05726597)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Tools and Office Motor
equipment equipment vehicles Totals
£    £    £    £   
COST
At 1 April 2022 49,564 14,054 100,263 163,881
Additions - 1,448 - 1,448
At 31 March 2023 49,564 15,502 100,263 165,329
DEPRECIATION
At 1 April 2022 28,134 14,035 95,446 137,615
Charge for year 7,366 299 4,816 12,481
At 31 March 2023 35,500 14,334 100,262 150,096
NET BOOK VALUE
At 31 March 2023 14,064 1,168 1 15,233
At 31 March 2022 21,430 19 4,817 26,266

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Tools and Motor
equipment vehicles Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 12,500 66,769 79,269
DEPRECIATION
At 1 April 2022 10,000 55,214 65,214
Charge for year 2,500 4,816 7,316
At 31 March 2023 12,500 60,030 72,530
NET BOOK VALUE
At 31 March 2023 - 6,739 6,739
At 31 March 2022 2,500 11,555 14,055

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 81,530 155,518

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 10,000 10,000
Hire purchase contracts 3,264 6,824
Trade creditors 17,696 40,104
Tax 38,217 37,456
Social security and other taxes 15,892 39,408
Directors' current accounts 63 57
85,132 133,849

Encore Electrical Limited (Registered number: 05726597)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other loans - 2-5 years 23,333 33,333
Hire purchase contracts - 3,264
23,333 36,597

9. RELATED PARTY DISCLOSURES

Rent amounting to £5,400 has been paid to the directors in respect of a property which is occupied by the company and owned personally by the directors.

Dividends were paid during the year to 31 March 2015 as follows:-

£

S R Hegarty 37,900 (2015 - £38,500)
F Hegarty 37,900 (2015 - £38,500)

10. CONTROL

The company is under the control of its directors, who collectively own 100% of the company's issued share capital.