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REGISTERED NUMBER: 05986003 (England and Wales)











Financial Statements

for the Year Ended 30 November 2023

for

ELECT SYSTEMS LIMITED

ELECT SYSTEMS LIMITED (REGISTERED NUMBER: 05986003)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ELECT SYSTEMS LIMITED

Company Information
for the Year Ended 30 November 2023







DIRECTOR: Ms M Billing





REGISTERED OFFICE: 42 Lytton Road
Barnet
Hertfordshire
EN5 5BY





REGISTERED NUMBER: 05986003 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

ELECT SYSTEMS LIMITED (REGISTERED NUMBER: 05986003)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,857 40,435

CURRENT ASSETS
Debtors 5 17,578 35,063
Cash at bank 67,298 59,104
84,876 94,167
CREDITORS
Amounts falling due within one year 6 61,364 79,410
NET CURRENT ASSETS 23,512 14,757
TOTAL ASSETS LESS CURRENT
LIABILITIES

44,369

55,192

PROVISIONS FOR LIABILITIES 7 4,699 9,480
NET ASSETS 39,670 45,712

CAPITAL AND RESERVES
Called up share capital 8 102 102
Retained earnings 39,568 45,610
SHAREHOLDERS' FUNDS 39,670 45,712

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 29 August 2024 and were signed by:





Ms M Billing - Director


ELECT SYSTEMS LIMITED (REGISTERED NUMBER: 05986003)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Elect Systems Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

ELECT SYSTEMS LIMITED (REGISTERED NUMBER: 05986003)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 December 2022 14,212 186,674 200,886
Additions - 6,580 6,580
Disposals - (35,352 ) (35,352 )
At 30 November 2023 14,212 157,902 172,114
DEPRECIATION
At 1 December 2022 12,928 147,523 160,451
Charge for year 801 25,357 26,158
Eliminated on disposal - (35,352 ) (35,352 )
At 30 November 2023 13,729 137,528 151,257
NET BOOK VALUE
At 30 November 2023 483 20,374 20,857
At 30 November 2022 1,284 39,151 40,435

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors - 24,445
Tax 2,042 2,884
Prepayments and accrued income 15,536 7,734
17,578 35,063

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts - 4,749
Trade creditors 5,769 16,265
Social security and other taxes 4,541 4,223
VAT 12,387 15,271
Other creditors 10,244 2,316
Directors' current accounts 252 20
Deferred income 21,379 29,596
Accrued expenses 6,792 6,970
61,364 79,410

7. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
£    £   
Deferred tax 4,699 9,480

ELECT SYSTEMS LIMITED (REGISTERED NUMBER: 05986003)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 December 2022 9,480
Provided during year (4,781 )
Balance at 30 November 2023 4,699

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
50 A Ordinary £1 50 50
50 B Ordinary £1 50 50
1 C Ordinary £1 1 1
1 D Ordinary £1 1 1
102 102

9. RELATED PARTY DISCLOSURES

As at the balance sheet date, included in creditors due within one year is £252 (2022: £20), due and payable to the director. During the period interest of £421 was charged at 2%/2.25% on any overdrawn balance.The directors loan account is repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Ms M Billing.