Registered number
06058308
Electricool Control Systems Ltd
Filleted Accounts
31 January 2024
Electricool Control Systems Ltd
Registered number: 06058308
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 327,906 332,333
Current assets
Stocks 27,662 16,802
Debtors 4 970,533 591,533
Cash at bank and in hand 128,966 208,650
1,127,161 816,985
Creditors: amounts falling due within one year 5 (142,958) (105,192)
Net current assets 984,203 711,793
Total assets less current liabilities 1,312,109 1,044,126
Creditors: amounts falling due after more than one year 6 - (1,992)
Provisions for liabilities (8,152) (8,995)
Net assets 1,303,957 1,033,139
Capital and reserves
Called up share capital 16 16
Revaluation reserve 7 10,000 10,000
Profit and loss account 1,293,941 1,023,123
Shareholders' funds 1,303,957 1,033,139
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Foster
Director
Approved by the board on 25 October 2024
Electricool Control Systems Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Fixtures, fittings, tools and equipment 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 13
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2023 285,000 3,971 89,727 378,698
Additions - - 6,300 6,300
At 31 January 2024 285,000 3,971 96,027 384,998
Depreciation
At 1 February 2023 - 1,911 44,454 46,365
Charge for the year - 412 10,315 10,727
At 31 January 2024 - 2,323 54,769 57,092
Net book value
At 31 January 2024 285,000 1,648 41,258 327,906
At 31 January 2023 285,000 2,060 45,273 332,333
4 Debtors 2024 2023
£ £
Trade debtors 228,994 134,781
Other debtors 741,539 456,752
970,533 591,533
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,601 -
Trade creditors 35,072 36,191
Taxation and social security costs 103,588 68,429
Other creditors 1,697 572
142,958 105,192
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts - 1,992
7 Revaluation reserve 2024 2023
£ £
At 1 February 2023 10,000 10,000
At 31 January 2024 10,000 10,000
8 Other information
Electricool Control Systems Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Temperance House
Langdon Lane
Radway
Warwickshire
CV35 0UQ
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