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REGISTERED NUMBER: 01960055 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

ELECTROQUIP LTD

ELECTROQUIP LTD (REGISTERED NUMBER: 01960055)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ELECTROQUIP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr L Baxter
Mrs C Baxter
Mr S J Baxter





REGISTERED OFFICE: No 1, Glenmore Centre
Eurolink Industrial Estate
Sittingbourne
Kent
ME10 3GL





REGISTERED NUMBER: 01960055 (England and Wales)





ACCOUNTANTS: George & Co.
Chartered Accountants
44a Joy Lane
Whitstable
Kent
CT5 4LT

ELECTROQUIP LTD (REGISTERED NUMBER: 01960055)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 443,549 333,034

CURRENT ASSETS
Inventories 19,500 19,500
Debtors 5 68,510 76,704
Cash at bank and in hand 120,260 189,749
208,270 285,953
CREDITORS
Amounts falling due within one year 6 119,928 99,560
NET CURRENT ASSETS 88,342 186,393
TOTAL ASSETS LESS CURRENT
LIABILITIES

531,891

519,427

PROVISIONS FOR LIABILITIES 2,610 6,212
NET ASSETS 529,281 513,215

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 529,278 513,212
SHAREHOLDERS' FUNDS 529,281 513,215

ELECTROQUIP LTD (REGISTERED NUMBER: 01960055)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 February 2024 and were signed on its behalf by:





Mr S J Baxter - Director


ELECTROQUIP LTD (REGISTERED NUMBER: 01960055)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Electroquip Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 25% on reducing balance

Inventories
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

ELECTROQUIP LTD (REGISTERED NUMBER: 01960055)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 258,695 192,193 450,888
Additions - 144,108 144,108
At 31 January 2024 258,695 336,301 594,996
DEPRECIATION
At 1 February 2023 - 117,854 117,854
Charge for year - 33,593 33,593
At 31 January 2024 - 151,447 151,447
NET BOOK VALUE
At 31 January 2024 258,695 184,854 443,549
At 31 January 2023 258,695 74,339 333,034

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 67,220 76,704
Other debtors 1,290 -
68,510 76,704

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 68,011 61,887
Taxation and social security 51,167 36,923
Other creditors 750 750
119,928 99,560

7. ULTIMATE CONTROLLING PARTY

The controlling party is the Board of Directors by virtue of the directors' shareholdings.