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REGISTERED NUMBER: 12543205 (England and Wales)















Electrified Automation Limited

Financial Statements for the Year Ended 31 December 2023






Electrified Automation Limited (Registered number: 12543205)






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




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 3


Electrified Automation Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: L C Ash
J T Winchester
J S Ellison



REGISTERED OFFICE: Unit 4 Beech Business Park
Bristol Road
Bridgwater
Somerset
TA6 4FF



REGISTERED NUMBER: 12543205 (England and Wales)



AUDITORS: Maxwells
Chartered Accountants
and Statutory Auditor
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: National Westminster Bank plc
47 North Street
Taunton
Somerset
TA1 1NB

Electrified Automation Limited (Registered number: 12543205)

Abridged Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 450,950 104,521

CURRENT ASSETS
Stocks 229,245 -
Debtors 419,471 689,972
Cash at bank 258,103 561,729
906,819 1,251,701
CREDITORS
Amounts falling due within one year 751,004 1,200,656
NET CURRENT ASSETS 155,815 51,045
TOTAL ASSETS LESS CURRENT
LIABILITIES

606,765

155,566

CAPITAL AND RESERVES
Called up share capital 145 126
Share premium 1,733,883 764,975
Retained earnings (1,127,263 ) (609,535 )
SHAREHOLDERS' FUNDS 10 606,765 155,566

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 August 2024 and were signed on its behalf by:





J T Winchester - Director


Electrified Automation Limited (Registered number: 12543205)

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

1. STATUTORY INFORMATION

Electrified Automation 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. 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.

The financial statements have been prepared in accordance with applicable accounting standards and estimation techniques, and on a going concern basis.

At the time of approving the financial statements the directors have a reasonable expectation that the Company has adequate resources to continue in operation existence for the foreseeable future.

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

Turnover includes amounts receivable on contracts and payments on account in accordance with the terms of the individual contracts on a receivable basis.

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 etc - 33% on cost, 25% on reducing balance, 15% on reducing balance and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Electrified Automation Limited (Registered number: 12543205)

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

3. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Grant income
Grant income is recognised on a receipts basis upon compliance with the conditions of the grant application.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 28 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 186,656
Additions 412,743
At 31 December 2023 599,399
DEPRECIATION
At 1 January 2023 82,135
Charge for year 66,314
At 31 December 2023 148,449
NET BOOK VALUE
At 31 December 2023 450,950
At 31 December 2022 104,521

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

A W Turrell (Senior Statutory Auditor)
for and on behalf of Maxwells

7. CAPITAL COMMITMENTS
31.12.23 31.12.22
£    £   
Contracted but not provided for in the
financial statements - 293,406

Electrified Automation Limited (Registered number: 12543205)

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

8. RELATED PARTY DISCLOSURES

The company paid Full Circle Developments Ltd, a company controlled by L C Ash, rent of £50,313 during the year (2022: £33,250).

The company also paid £46,265 (2022: £27,705) to Aspire Engineering Limited, a company controlled by I Briggs, a shareholder.

These transactions were at arms length and open market value. No balances were outstanding relating to these related parties at the year-end.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is L C Ash.

10. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
31.12.23 31.12.22
£    £   
Loss for the financial year (517,728 ) (357,801 )
New share capital subscribed 968,927 765,003
Net addition to shareholders' funds 451,199 407,202
Opening shareholders' funds 155,566 (251,636 )
Closing shareholders' funds 606,765 155,566