ELECTRIC BUILD LTD
Registered number: 09424509
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 501 749
Current assets
Cash at bank and in hand 6,556 18,408
Creditors: amounts falling due within one year 4 (15,531) (26,624)
Net current liabilities (8,975) (8,216)
Net liabilities (8,474) (7,467)
Capital and reserves
Called up share capital 100 100
Profit and loss account (8,574) (7,567)
Shareholder's funds (8,474) (7,467)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Javed Akhter Latif
Director
Approved by the board on 14 November 2023
ELECTRIC BUILD LTD
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer and Equipments 33.33% Straight Line
Motor vehicles 25% Reducing Balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2022 1,588 5,000 6,588
At 28 February 2023 1,588 5,000 6,588
Depreciation
At 1 March 2022 1,506 4,333 5,839
Charge for the year 82 166 248
At 28 February 2023 1,588 4,499 6,087
Net book value
At 28 February 2023 - 501 501
At 28 February 2022 82 667 749
4 Creditors: amounts falling due within one year 2023 2022
£ £
Other taxes and social security costs 101 163
Other creditors 15,430 26,461
15,531 26,624
5 Controlling party
The ultimate controlling interest is held by the director of the company.
6 Other information
ELECTRIC BUILD LTD is a private company limited by shares and incorporated in England. Its registered office is:
4A THE AVENUE
HIGHAMS PARK
LONDON
E4 9LD
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