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Registered number: 6930086
E-Bound AVX Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Steve Pye & Co.
Chartered Certified Accountants
3 North Lynn Bus. Village
Bergen Way, North Lynn Industrial Estate
King's Lynn
Norfolk
PE30 2JG
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 6930086
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 40,388 42,879
40,388 42,879
CURRENT ASSETS
Stocks 110,208 122,310
Debtors 5 79,178 132,765
Cash at bank and in hand 105,430 81,425
294,816 336,500
Creditors: Amounts Falling Due Within One Year 6 (241,564 ) (187,482 )
NET CURRENT ASSETS (LIABILITIES) 53,252 149,018
TOTAL ASSETS LESS CURRENT LIABILITIES 93,640 191,897
Creditors: Amounts Falling Due After More Than One Year 7 (73,579 ) (146,116 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (10,678 ) (7,661 )
NET ASSETS 9,383 38,120
CAPITAL AND RESERVES
Called up share capital 8 214 214
Profit and Loss Account 9,169 37,906
SHAREHOLDERS' FUNDS 9,383 38,120
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A D Brown
Director
10 September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
E-Bound AVX Limited is a private company, limited by shares, incorporated in England & Wales, registered number 6930086 . The registered office is Southgate Hub, Southgate Park, Orton Southgate, Peterborough, PE2 6YS. 
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% on reducing balance
Plant & Machinery Straight line over 3 years
Motor Vehicles 25% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Financial Instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.
a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.
b) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.
c) Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
d) Trade and other creditors
...CONTINUED
Page 3
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2.6. Financial Instruments - continued
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.7. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees during the year was: 20 (2022: 21)
20 21
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 January 2023 4,000 35,655 121,725 161,380
Additions - 1,338 20,513 21,851
Disposals - - (32,732 ) (32,732 )
As at 31 December 2023 4,000 36,993 109,506 150,499
Depreciation
As at 1 January 2023 1,440 28,734 88,327 118,501
Provided during the period 512 5,983 12,021 18,516
Disposals - - (26,906 ) (26,906 )
As at 31 December 2023 1,952 34,717 73,442 110,111
Net Book Value
As at 31 December 2023 2,048 2,276 36,064 40,388
As at 1 January 2023 2,560 6,921 33,398 42,879
Page 4
Page 5
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 51,469 52,134
Amounts owed by group undertakings 9,933 13,140
Other debtors 17,776 67,491
79,178 132,765
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts - 3,204
Trade creditors 34,236 32,455
Bank loans and overdrafts 72,537 66,314
Other creditors 28,084 19,632
Taxation and social security 106,707 65,877
241,564 187,482
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans - 2-5 years 73,579 146,116
73,579 146,116
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 214 214
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Angus Brown 16,529 - 16,529 - -
Mrs Lynne Franklin 17,531 - 17,531 - -
Mrs Hannah Goodley-Jones 17,393 - 17,393 - -
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