ELECTRACTION (N.I.) LIMITED

Company Registration Number:
NI025863 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

ELECTRACTION (N.I.) LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

ELECTRACTION (N.I.) LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 9,437 4,738
Total fixed assets: 9,437 4,738
Current assets
Stocks: 390,847 360,941
Debtors: 4 299,774 405,644
Cash at bank and in hand: 267,052 163,099
Total current assets: 957,673 929,684
Creditors: amounts falling due within one year: 5 (669,234) (666,033)
Net current assets (liabilities): 288,439 263,651
Total assets less current liabilities: 297,876 268,389
Total net assets (liabilities): 297,876 268,389
Capital and reserves
Called up share capital: 100,000 100,000
Share premium account: 147,510 147,510
Profit and loss account: 50,366 20,879
Shareholders funds: 297,876 268,389

The notes form part of these financial statements

ELECTRACTION (N.I.) LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 03 September 2024
and signed on behalf of the board by:

Name: Nicholas Craigie
Status: Director

The notes form part of these financial statements

ELECTRACTION (N.I.) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT other sales related taxes.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciaton and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual value over their useful on the following bases; Plant & Equipment 15% straight line Fixtures & Fittings 15% straight line Motor vehicles 25% straight line

ELECTRACTION (N.I.) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 4 3

ELECTRACTION (N.I.) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 156,289
Additions 8,750
At 31 December 2023 165,039
Depreciation
At 01 January 2023 151,551
Charge for year 4,051
At 31 December 2023 155,602
Net book value
At 31 December 2023 9,437
At 31 December 2022 4,738

ELECTRACTION (N.I.) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Debtors

2023 2022
££
Debtors due after more than one year: 0 0

ELECTRACTION (N.I.) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due within one year note

Trade creditors £142,897 Amounts due to group undertakings £467,094 Corporation tax £8,072 Other taxation and social security £36,833 Other creditors £14,388 Total £669,234

ELECTRACTION (N.I.) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Financial commitments

The company had no material capital commitments at the financial year-end 31 December 2023.

ELECTRACTION (N.I.) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Related party transactions

Name of the related party: Bastienne Holdings Limited
Relationship:
Related party
Description of the Transaction: Bastienne Holdings Limited owed Electraction NI Limited £87,097 at 31 December 2022. In 2023 net payments of £4,486 were made by Electraction NI Limited on behalf of Bastienne Holdings Limited. At 31st December 2023 Bastienne Holdings Limited owed Electraction NI Limited £91,583.
£
Balance at 01 January 2023 87,097
Balance at 31 December 2023 91,583
Name of the related party: Electraction Limited
Relationship:
Related party
Description of the Transaction: In 2023 Electraction Limited charged Electraction NI Limited £43,453 for services provided. Electraction NI Limited owe Electraction Limited £58,114 in relation to 2023 purchases of batteries and bikes.
£
Balance at 01 January 2023 365,527
Balance at 31 December 2023 467,094

ELECTRACTION (N.I.) LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

8. Post balance sheet events

There have been no significant events affecting the company since the year-end.