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REGISTERED NUMBER: 05720470 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Elac Limited

Elac Limited (Registered number: 05720470)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Elac Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: J Dunster
A McPhee
T Cooke





REGISTERED OFFICE: 22 Milsom Street
Bath
Somerset
BA1 1DE





REGISTERED NUMBER: 05720470 (England and Wales)





ACCOUNTANTS: Moore
Chartered Accountants
30 Gay Street
Bath
BA1 2PA

Elac Limited (Registered number: 05720470)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,475 6,563

CURRENT ASSETS
Debtors 5 191,428 149,701
Cash at bank and in hand 635,988 268,253
827,416 417,954
CREDITORS
Amounts falling due within one year 6 419,665 263,921
NET CURRENT ASSETS 407,751 154,033
TOTAL ASSETS LESS CURRENT
LIABILITIES

413,226

160,596

CREDITORS
Amounts falling due after more than
one year

7

82,078

131,286
NET ASSETS 331,148 29,310

CAPITAL AND RESERVES
Called up share capital 8 125 125
Share premium 59,726 59,726
Retained earnings 271,297 (30,541 )
SHAREHOLDERS' FUNDS 331,148 29,310

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.

Elac Limited (Registered number: 05720470)

Balance Sheet - 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 31 May 2024 and were signed on its behalf by:





A McPhee - Director


Elac Limited (Registered number: 05720470)

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

1. STATUTORY INFORMATION

Elac 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.

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 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.
Short leasehold - 10% on cost
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

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.

Elac Limited (Registered number: 05720470)

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

2. ACCOUNTING POLICIES - continued

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.

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 26 (2022 - 26 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 47,221 29,054 33,660 109,935
Additions - 525 850 1,375
At 31 December 2023 47,221 29,579 34,510 111,310
DEPRECIATION
At 1 January 2023 47,221 27,627 28,524 103,372
Charge for year - 488 1,975 2,463
At 31 December 2023 47,221 28,115 30,499 105,835
NET BOOK VALUE
At 31 December 2023 - 1,464 4,011 5,475
At 31 December 2022 - 1,427 5,136 6,563

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 143,644 28,375
Other debtors 47,784 121,326
191,428 149,701

Elac Limited (Registered number: 05720470)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 49,200 49,200
Trade creditors 72,179 72,702
Taxation and social security 218,056 46,688
Other creditors 80,230 95,331
419,665 263,921

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 82,078 131,286

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
125 Ordinary £1 125 125

9. RELATED PARTY DISCLOSURES

Included in other debtors is £NIL (2022: £36,000) owed to AD & GC Investments Ltd, a company controlled by A McPhee.

Included in other debtors is £NIL (2022: £36,000) owed to TCNH Consultancy & Investments Corporation, a company controlled by T Cook.

Included in other debtors is £NIL (2022: £18,000) owed to JM & SJ Investments Ltd, a company controlled by J Dunster .