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Registration number: 04039355

Eclipse Electrical Engineers Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Eclipse Electrical Engineers Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Eclipse Electrical Engineers Limited

Company Information

Directors

J Kirkby

P J Hopley

Company secretary

J Kirkby

Registered office

C/O Kirkby Lindsey Electrical Engineering
Crowle Street
Hedon Road
Hull
East Yorkshire
HU9 1RH

 

Eclipse Electrical Engineers Limited

(Registration number: 04039355)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

1

1

Tangible assets

5

21,436

25,252

 

21,437

25,253

Current assets

 

Stocks

6

33,718

32,202

Debtors

7

119,591

125,120

Cash at bank and in hand

 

174,992

116,691

 

328,301

274,013

Creditors: Amounts falling due within one year

8

(129,172)

(133,401)

Net current assets

 

199,129

140,612

Total assets less current liabilities

 

220,566

165,865

Provisions for liabilities

(843)

(1,359)

Net assets

 

219,723

164,506

Capital and reserves

 

Called up share capital

1

1

Retained earnings

219,722

164,505

Shareholders' funds

 

219,723

164,506

For the financial year ending 31 March 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. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 October 2023 and signed on its behalf by:
 

.........................................
P J Hopley
Director

 

Eclipse Electrical Engineers Limited

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

1

General information

The company is a private company limited by share capital incorporated in England & Wales and the company registration number is 04039355.

The address of its registered office is:
C/O Kirkby Lindsey Electrical Engineering
Crowle Street
Hedon Road
Hull
East Yorkshire
HU9 1RH

These financial statements were authorised for issue by the Board on 25 October 2023.

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.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Group accounts not prepared

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' not to disclose related party transactions with wholly owned subsidiaries within the group. .

Revenue recognition

Turnover arises from the sale of goods and the provision of electrical and mechanical services. Turnover is measured at the fair value of the consideration received or receivable and represents amounts for the sale of goods and the rendering of services in the normal course of business, net of discounts and other sales-related taxes.

Turnover from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, which is when the goods are delivered to the customer.

Turnover from the provision of services is recognised when the service is performed.

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 of each of the companies activities.

Government grants

Government grants which become receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, are recognised as income in the period in which they become receivable.

 

Eclipse Electrical Engineers Limited

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

Tax

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 subsequently enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measure using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss account.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss has been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account.

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

15% reducing balance

Fixtures and fittings

33% reducing balance

Fixtures and fittings

15% reducing balance

Motor vehicles

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

Eclipse Electrical Engineers Limited

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

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 the sale of goods and the provision of services in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 4 (2022 - 4).

 

Eclipse Electrical Engineers Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

1

1

At 31 March 2023

1

1

Amortisation

Carrying amount

At 31 March 2023

1

1

At 31 March 2022

1

1

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

32,765

38,348

24,050

95,163

Additions

-

4,788

-

4,788

Disposals

-

(5,009)

-

(5,009)

At 31 March 2023

32,765

38,127

24,050

94,942

Depreciation

At 1 April 2022

21,741

28,998

19,172

69,911

Charge for the year

5,545

1,685

1,220

8,450

Eliminated on disposal

-

(4,855)

-

(4,855)

At 31 March 2023

27,286

25,828

20,392

73,506

Carrying amount

At 31 March 2023

5,479

12,299

3,658

21,436

At 31 March 2022

11,024

9,350

4,878

25,252

Included within the net book value of land and buildings above is £5,479 (2022 - £11,024) in respect of leasehold property improvements..
 

6

Stocks

2023
£

2022
£

Other inventories

33,718

32,202

 

Eclipse Electrical Engineers Limited

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

7

Debtors

2023
£

2022
£

Trade debtors

104,048

106,356

Other debtors

5,653

10,513

Prepayments and accrued income

9,890

8,251

Total current trade and other debtors

119,591

125,120

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

94,008

69,546

Amounts owed to group undertakings and undertakings in which the company has a participating interest

1,645

5,955

Taxation and social security

27,589

45,761

Accruals and deferred income

5,930

12,139

129,172

133,401

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £12,750 (2022 - £42,500).

10

Parent and ultimate parent undertaking

The Company's immediate parent is Kikby Lindsey Electrical Engineering Limited, incorporated in England & Wales.

  These financial statements are available upon request from Crowle Street, Hedon Road, Hull, HU9 1RH.