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Registration number: 07157519

Extechnology Europe Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Extechnology Europe Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Extechnology Europe Limited

Company Information

Director

Mr C Flood

Registered office

9A Burroughs Gardens
London
NW4 4AU

Registered number

07157519

Accountants

Ripe LLP
Chartered Accountants
9A Burroughs Gardens
London
NW4 4AU

 

Extechnology Europe Limited

(Registration number: 07157519)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

2,037

2,716

Tangible assets

4

89,695

108,126

Investments

5

576,824

576,824

Other financial assets

6

44,946

44,946

 

713,502

732,612

Current assets

 

Stocks

7

143,252

170,572

Debtors

8

167,304

203,718

Cash at bank and in hand

 

37,517

41,466

 

348,073

415,756

Creditors: Amounts falling due within one year

9

(203,743)

(341,024)

Net current assets

 

144,330

74,732

Total assets less current liabilities

 

857,832

807,344

Creditors: Amounts falling due after more than one year

9

(23,519)

(35,784)

Net assets

 

834,313

771,560

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

834,213

771,460

Shareholders' funds

 

834,313

771,560

 

Extechnology Europe Limited

(Registration number: 07157519)
Balance Sheet as at 31 July 2023

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

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 5 March 2024
 

.........................................
Mr C Flood
Director

 

Extechnology Europe Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9A Burroughs Gardens
London
NW4 4AU
England

The principal place of business is:
45 Been Street
London
EC2Y 8AD

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 are presented in Sterling (£) and figures are shown to the nearest whole pound.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates,VAT and other sales tax or duty.

Government grants

Government grants in relation to expenditure are credited to profit and loss account when the expenditure is charged to profit and loss.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

 

Extechnology Europe Limited

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet 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.

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

Fixture & Fittings

15% on reducing balance

Office equipment

20% on cost

Intangible assets

Intangible assets are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Other investments are recognised at the transaction price.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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 merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

 

Extechnology Europe Limited

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

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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 and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2022

148,172

5,042

37,950

191,164

Additions

-

551

-

551

At 31 July 2023

148,172

5,593

37,950

191,715

Depreciation

At 1 August 2022

65,061

2,856

15,121

83,038

Charge for the year

12,466

808

5,708

18,982

At 31 July 2023

77,527

3,664

20,829

102,020

Carrying amount

At 31 July 2023

70,645

1,929

17,121

89,695

At 31 July 2022

83,111

2,186

22,829

108,126

 

Extechnology Europe Limited

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

5

Investments

2023
£

2022
£

Investments in subsidiaries

576,824

576,824

Subsidiaries

£

Cost or valuation

At 1 August 2022

576,824

Provision

Carrying amount

At 31 July 2023

576,824

At 31 July 2022

576,824

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Ardenair Limited

9a Burroughs Gardens,
London,
NW4 4AU

England and Wales

Ordinary

100%

100%

Arden Environmental Limited

9a Burroughs Gardens,
London,
NW4 4AU

England and Wales

Ordinary

100%

100%

 

Extechnology Europe Limited

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

Subsidiary undertakings

Ardenair Limited

The principal activity of Ardenair Limited is office rental services.

Arden Environmental Limited

The principal activity of Arden Environmental Limited is plumbing, heat and air-conditioning installation.

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 August 2022

44,946

44,946

At 31 July 2023

44,946

44,946

Carrying amount

At 31 July 2023

44,946

44,946

7

Stocks

2023
£

2022
£

Finished goods and goods for resale

143,252

170,572

8

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

117,598

182,659

Amounts owed by related parties

11

37,571

5,095

Prepayments

 

7,565

11,400

Other debtors

 

4,570

4,564

   

167,304

203,718

 

Extechnology Europe Limited

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

9

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Bank loans and overdrafts

9,687

7,108

Trade creditors

 

109,858

196,756

Amounts due to related parties

11

27,867

45

Social security and other taxes

 

43,258

38,249

Other creditors

 

13,073

98,866

 

203,743

341,024

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Loans and borrowings

23,519

35,784

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

Extechnology Europe Limited

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

11

Related party transactions

Arden Environment Limited
(subsidiary company)

At the balance sheet date, Arden Environment Limited owed £36,453 (2022: £3,967) to the company.

Ardenair Limited
(subsidiary company)

At the balance sheet date, Ardenair Limited owed £380 (2022: £390) to the company.

Sideways Investment Limited
(a company controlled by the director)
During the year, the company incurred management fees of £46,520 (2022: £109,759) from Sideways Investment Limited.

Extechnology Limited
(a company controlled by the director)
At the balance sheet date, Extechnology Limited owed £738 (2022: £738) to the company.

Transactions with Director
At the balance sheet date, the company owed £27,867 (2022: £45) to the director, Mr C Flood.