Registered number
02962291
Electronic Alchemy Ltd
Unaudited Filleted Accounts
31 August 2023
Electronic Alchemy Ltd
Registered number: 02962291
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,522 2,217
Current assets
Debtors 4 47 432
Cash at bank and in hand 81,300 81,085
81,347 81,517
Creditors: amounts falling due within one year 5 (351) (337)
Net current assets 80,996 81,180
Net assets 82,518 83,397
Capital and reserves
Called up share capital 2 2
Profit and loss account 82,516 83,395
Shareholder's funds 82,518 83,397
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.
Mr W Price
Director
Approved by the board on 20 November 2023
Electronic Alchemy Ltd
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 over its expected useful life, as follows:
Equipment 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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. No provision for deferred tax has been made since the director is of the opinion that no liability will crystallise in the foreseeable future.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Equipment
£
Cost
At 1 September 2022 4,989
Disposals (250)
At 31 August 2023 4,739
Depreciation
At 1 September 2022 2,772
Charge for the year 507
On disposals (62)
At 31 August 2023 3,217
Net book value
At 31 August 2023 1,522
At 31 August 2022 2,217
4 Debtors 2023 2022
£ £
Other debtors 47 432
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 351 337
6 Other information
Electronic Alchemy Ltd is a private company limited by shares and incorporated in England. Its registered office is:
4 Tudor Lodge
Platt Meadow
Guildford
GU4 7EF
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