Company registration number 04390669 (England and Wales)
Electrogate Ltd
Unaudited
financial statements
for the year ended 31 March 2023
PAGES FOR FILING WITH REGISTRAR
Electrogate Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Electrogate Ltd
Statement of Financial Position
as at 31 March 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
109,524
36,530
Investments
5
50,000
50,000
159,524
86,530
Current assets
Stocks
5,582
15,025
Debtors
2,830
1,490
Cash at bank and in hand
187,529
157,215
195,941
173,730
Creditors: amounts falling due within one year
(144,080)
(141,671)
Net current assets
51,861
32,059
Total assets less current liabilities
211,385
118,589
Creditors: amounts falling due after more than one year
(17,500)
-
0
Provisions for liabilities
(20,809)
(6,941)
Net assets
173,076
111,648
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
172,976
111,548
Total equity
173,076
111,648
Electrogate Ltd
Statement of Financial Position (continued)
as at 31 March 2023
31 March 2023
- 2 -

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved and signed by the director and authorised for issue on 30 October 2023
J S Webster
Director
Company Registration No. 04390669
Electrogate Ltd
Notes to the Financial Statements
for the year ended 31 March 2023
- 3 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Turnover is recognised on the supply of goods to the customer.

Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.

Tangible fixed assets

Tangible fixed assets are measured at cost net of depreciation.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
15% Reducing Balance
Fixtures, fittings & equipment
15% Reducing Balance
Motor vehicles
25% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value.

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Electrogate Ltd
Notes to the Financial Statements (continued)
for the year ended 31 March 2023
1
Accounting policies
(continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

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 represent accumulated differences between the company’s taxable profit and its financial profit arise primarily from the differences between the accelerated capital allowances and depreciation.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
4
3
Intangible fixed assets
Total
£
Cost
At 1 April 2022 and 31 March 2023
164,000
Amortisation and impairment
At 1 April 2022 and 31 March 2023
164,000
Carrying amount
At 31 March 2023
-
0
At 31 March 2022
-
0
Electrogate Ltd
Notes to the Financial Statements (continued)
for the year ended 31 March 2023
- 5 -
4
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2022
11,044
17,056
35,362
63,462
Additions
-
0
11,930
74,904
86,834
At 31 March 2023
11,044
28,986
110,266
150,296
Depreciation and impairment
At 1 April 2022
8,796
3,967
14,169
26,932
Depreciation charged in the year
337
1,963
11,540
13,840
At 31 March 2023
9,133
5,930
25,709
40,772
Carrying amount
At 31 March 2023
1,911
23,056
84,557
109,524
At 31 March 2022
2,248
13,089
21,193
36,530
5
Fixed asset investments
2023
2022
£
£
Other investments
50,000
50,000
6
Company information

Electrogate Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 599 Denby Dale Road, Calder Grove, Wakefield, West Yorkshire, United Kingdom, WF4 3DJ.

2023-03-312022-04-01false30 October 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityJ S WebsterMrs K Websterfalse043906692022-04-012023-03-31043906692023-03-31043906692022-03-3104390669core:PlantMachinery2023-03-3104390669core:FurnitureFittings2023-03-3104390669core:MotorVehicles2023-03-3104390669core:PlantMachinery2022-03-3104390669core:FurnitureFittings2022-03-3104390669core:MotorVehicles2022-03-3104390669core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3104390669core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3104390669core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3104390669core:Non-currentFinancialInstrumentscore:AfterOneYear2022-03-3104390669core:ShareCapital2023-03-3104390669core:ShareCapital2022-03-3104390669core:RetainedEarningsAccumulatedLosses2023-03-3104390669core:RetainedEarningsAccumulatedLosses2022-03-3104390669bus:Director12022-04-012023-03-3104390669core:Goodwill2022-04-012023-03-3104390669core:PlantMachinery2022-04-012023-03-3104390669core:FurnitureFittings2022-04-012023-03-3104390669core:MotorVehicles2022-04-012023-03-31043906692021-04-012022-03-31043906692022-03-3104390669core:PlantMachinery2022-03-3104390669core:FurnitureFittings2022-03-3104390669core:MotorVehicles2022-03-3104390669bus:PrivateLimitedCompanyLtd2022-04-012023-03-3104390669bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3104390669bus:FRS1022022-04-012023-03-3104390669bus:AuditExemptWithAccountantsReport2022-04-012023-03-3104390669bus:CompanySecretary12022-04-012023-03-3104390669bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP