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Company No: 06470405 (England and Wales)

ELECT HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

ELECT HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

ELECT HOLDINGS LIMITED

BALANCE SHEET

As at 31 January 2024
ELECT HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 200 200
200 200
Current assets
Debtors 4 1,007,019 1,131,349
Cash at bank and in hand 62,501 6,625
1,069,520 1,137,974
Creditors: amounts falling due within one year 5 ( 902,040) ( 917,170)
Net current assets 167,480 220,804
Total assets less current liabilities 167,680 221,004
Creditors: amounts falling due after more than one year 6 ( 32,977) ( 38,943)
Net assets 134,703 182,061
Capital and reserves
Called-up share capital 7 100 100
Capital redemption reserve 100 100
Profit and loss account 134,503 181,861
Total shareholder's funds 134,703 182,061

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Elect Holdings Limited (registered number: 06470405) were approved and authorised for issue by the Director on 31 October 2024. They were signed on its behalf by:

Mr M P Harding
Director
ELECT HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
ELECT HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Elect Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales.

The address of the Company's registered office is:
22 Church Street
Rickmansworth
WD3 1DD
United Kingdom

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax.

The company recognises revenue when the value of services provided to date can be reliably measured.

Taxation

Current tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Fixed asset investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where the fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applcable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 February 2023 200 200
At 31 January 2024 200 200
Carrying value at 31 January 2024 200 200
Carrying value at 31 January 2023 200 200

4. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 610,509 845,292
Other debtors 396,510 286,057
1,007,019 1,131,349

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 6,070 6,075
Amounts owed to Group undertakings 832,748 814,315
Taxation and social security 61,197 92,352
Other creditors 2,025 4,428
902,040 917,170

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 32,977 38,943

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Advances to directors. Interest charged at HMRC official rate. 114,712 0