Registered number: 05684330 | ||||||||
FOR THE YEAR ENDED 31/01/2024 | ||||||||
Prepared By: | ||||||||
Greenhalgh Johnson Ltd | ||||||||
Accountants and Tax Advisers | ||||||||
22 High Street | ||||||||
Burgh le Marsh | ||||||||
Skegness | ||||||||
Lincolnshire | ||||||||
PE24 5JT |
East Lincs Electrical Ltd | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/01/2024 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
Lincolnshire | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 05684330 | ||||||||
BANKERS | ||||||||
LLoyds | ||||||||
ACCOUNTANTS | ||||||||
Greenhalgh Johnson Ltd | ||||||||
Accountants and Tax Advisers | ||||||||
22 High Street | ||||||||
Burgh le Marsh | ||||||||
Skegness | ||||||||
Lincolnshire | ||||||||
PE24 5JT |
East Lincs Electrical Ltd | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/01/2024 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
East Lincs Electrical Ltd | ||||||||
BALANCE SHEET AT | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Intangible assets | 2 | |||||||||
Tangible assets | 3 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
116,725 | 102,496 | |||||||||
CREDITORS: Amounts falling due within one year | 6 | |||||||||
NET CURRENT ASSETS / (LIABILITIES) | (4,657) | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 7 | 3,065 | 5,160 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 9 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 10 | |||||||||
Profit and loss account | 47,571 | 41,509 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
East Lincs Electrical Ltd | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/01/2024 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
Plant and Machinery | reducing balance 25% | |||||||
Fixtures and Fittings | reducing balance 25% |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1d. Goodwill | ||||||||
1e. Government Grants | ||||||||
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income. |
East Lincs Electrical Ltd | ||||||||
1f. Leasing Commitments | ||||||||
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis. |
1g. Basis Of Accounting FRS 1021 a | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. |
2. INTANGIBLE FIXED ASSETS | ||||
Purchased | ||||
Goodwill | Total | |||
£ | £ | |||
Cost | ||||
At 01/02/2023 | 100,000 | 100,000 | ||
At 31/01/2024 | 100,000 | 100,000 | ||
Depreciation | ||||
At 01/02/2023 | 60,000 | 60,000 | ||
For the year | 10,000 | 10,000 | ||
At 31/01/2024 | 70,000 | 70,000 | ||
Net Book Amounts | ||||
At 31/01/2024 | ||||
At 31/01/2023 | ||||
East Lincs Electrical Ltd | ||||||||
3. TANGIBLE FIXED ASSETS | ||||||
Plant and | Fixtures | |||||
Machinery | and Fittings | Total | ||||
£ | £ | £ | ||||
Cost | ||||||
At 01/02/2023 | 27,125 | 4,603 | 31,728 | |||
Additions | - | 657 | 657 | |||
At 31/01/2024 | 27,125 | 5,260 | 32,385 | |||
Depreciation | ||||||
At 01/02/2023 | 13,690 | 4,051 | 17,741 | |||
For the year | 3,360 | 302 | 3,662 | |||
At 31/01/2024 | 17,050 | 4,353 | 21,403 | |||
Net Book Amounts | ||||||
At 31/01/2024 | 10,982 | |||||
At 31/01/2023 | 13,987 | |||||
4. STOCK | 2024 | 2023 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock raw materials | 1,500 | 4,500 | ||||
5. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 10,482 | 9,121 | ||||||
Prepayments | 1,803 | 2,195 | ||||||
Accrued income | 4,513 | 6,393 | ||||||
16,798 | 17,709 | |||||||
East Lincs Electrical Ltd | ||||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
UK corporation tax | 14,129 | 11,755 | ||||||
VAT | 7,363 | 8,762 | ||||||
PAYE control | 14 | 589 | ||||||
Salaries and wages control | 1,661 | 3,289 | ||||||
Directors current account | 76,640 | 71,640 | ||||||
Bank Loan | 2,083 | 2,032 | ||||||
Trade creditors | 1,129 | 7,163 | ||||||
Other creditors | 315 | 315 | ||||||
Accruals | 1,647 | 1,608 | ||||||
104,981 | 107,153 | |||||||
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Loans >1yr | 3,065 | 5,160 | ||||||
3,065 | 5,160 | |||||||
8. EMPLOYEES | ||||||
2024 | 2023 | |||||
No. | No. | |||||
Average number of employees | 4 | |||||
9. PROVISIONS FOR LIABILITIES | 2024 | 2023 | ||||||
£ | £ | |||||||
Deferred taxation | 2,087 | 2,658 | ||||||
2,087 | 2,658 | |||||||
East Lincs Electrical Ltd | ||||||||
10. SHARE CAPITAL | 2024 | 2023 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
2 | 2 | |||||||
1 | 1 | |||||||
3 | 3 | |||||||
11. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||
12. OPERATING LEASE COMMITMENTS | ||||||||
At the year end the company had total commitments under operating leases expiring after more than 2 years of £19,763. At the end of the primary term the company has the option to extend the agreement until 2030 at £120 per annum. | ||||||||