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Registered Number: 09053729
England and Wales

 

 

 

EMIT ELECTRICAL LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2022

End date: 31 May 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 1,002    230 
1,002    230 
Current assets      
Stocks 9,875   
Debtors: amounts falling due within one year 96,842    156,571 
Cash at bank and in hand 81,728    13,453 
188,445    170,024 
Creditors: amount falling due within one year 15,552    21,093 
Net current assets 203,997    191,117 
 
Total assets less current liabilities 204,999    191,347 
Creditors: amount falling due after more than one year (43,734)   (40,833)
Net assets 161,265    150,514 
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account 161,165    150,414 
Shareholder's funds 161,265    150,514 
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 14 December 2023 and were signed on its behalf by:


-------------------------------
Liam Townsend
Director
1
General Information
EMIT ELECTRICAL LTD is a private company, limited by shares, registered in England and Wales, registration number 09053729, registration address Office 6A Elms House, Elms Industrial Estate, Church Road, Romford, Greater London, RM3 0JU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Research and development expenditure
Research and development expenditure is charged to the profit and loss account in the period in which it is incurred.
Website cost
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Preference dividends
Where preference shares are classed as liabilities rather than equity any preference dividends paid are included in interest payable and similar charges within the profit and loss account.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 June 2022 476    476 
Additions 831    831 
Disposals  
At 31 May 2023 1,307    1,307 
Depreciation
At 01 June 2022 246    246 
Charge for year 59    59 
On disposals  
At 31 May 2023 305    305 
Net book values
Closing balance as at 31 May 2023 1,002    1,002 
Opening balance as at 01 June 2022 230    230 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1 Class A share of £100.00 each 100    100 
100    100 

2