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REGISTERED NUMBER: 10506373 (England and Wales)














Financial Statements for the Year Ended 31 December 2023

for

Elect Construction Limited

Elect Construction Limited (Registered number: 10506373)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Elect Construction Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr J G Tubman
Mrs E Tubman





REGISTERED OFFICE: 1C Amberside
Wood Lane
Hemel Hempstead
Hertfordshire
HP2 4TP





REGISTERED NUMBER: 10506373 (England and Wales)





ACCOUNTANTS: Farrell & Co
1C Amberside
Wood Lane
Hemel Hempstead
Hertfordshire
HP2 4TP

Elect Construction Limited (Registered number: 10506373)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 34,118 42,996

CURRENT ASSETS
Debtors 6 3,228 14,375
Cash at bank 30,805 31,990
34,033 46,365
CREDITORS
Amounts falling due within one year 7 16,180 15,085
NET CURRENT ASSETS 17,853 31,280
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,971

74,276

PROVISIONS FOR LIABILITIES 3,293 4,736
NET ASSETS 48,678 69,540

CAPITAL AND RESERVES
Called up share capital 8 3 3
Retained earnings 9 48,675 69,537
SHAREHOLDERS' FUNDS 48,678 69,540

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Elect Construction Limited (Registered number: 10506373)

Statement of Financial Position - continued
31 December 2023


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 18 September 2024 and were signed on its behalf by:





Mr J G Tubman - Director


Elect Construction Limited (Registered number: 10506373)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Elect Construction 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% 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 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.

Elect Construction Limited (Registered number: 10506373)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 51,438 823 52,795 3,467 108,523
DEPRECIATION
At 1 January 2023 28,726 439 33,242 3,120 65,527
Charge for year 4,543 77 3,911 347 8,878
At 31 December 2023 33,269 516 37,153 3,467 74,405
NET BOOK VALUE
At 31 December 2023 18,169 307 15,642 - 34,118
At 31 December 2022 22,712 384 19,553 347 42,996

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors - 12,322
Other debtors 3,228 2,053
3,228 14,375

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors - 2
Taxation and social security 9,947 11,296
Other creditors 6,233 3,787
16,180 15,085

Elect Construction Limited (Registered number: 10506373)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 Ordinary A £1.00 1 1
1 Ordinary B £1.00 1 1
1 Ordinary C £1.00 1 1
3 3

9. RESERVES
Retained
earnings
£   

At 1 January 2023 69,537
Profit for the year 33,138
Dividends (54,000 )
At 31 December 2023 48,675