12 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 24,324 24,324 xbrli:pure xbrli:shares iso4217:GBP 06750769 2023-02-01 2024-01-31 06750769 2024-01-31 06750769 2023-01-31 06750769 2022-02-01 2023-01-31 06750769 2023-01-31 06750769 2022-01-31 06750769 core:NetGoodwill 2023-02-01 2024-01-31 06750769 core:LandBuildings core:LongLeaseholdAssets 2023-02-01 2024-01-31 06750769 core:PlantMachinery 2023-02-01 2024-01-31 06750769 core:FurnitureFittings 2023-02-01 2024-01-31 06750769 core:MotorVehicles 2023-02-01 2024-01-31 06750769 bus:Director2 2023-02-01 2024-01-31 06750769 core:NetGoodwill 2024-01-31 06750769 core:LandBuildings core:LongLeaseholdAssets 2023-01-31 06750769 core:PlantMachinery 2023-01-31 06750769 core:FurnitureFittings 2023-01-31 06750769 core:MotorVehicles 2023-01-31 06750769 core:LandBuildings core:LongLeaseholdAssets 2024-01-31 06750769 core:PlantMachinery 2024-01-31 06750769 core:FurnitureFittings 2024-01-31 06750769 core:MotorVehicles 2024-01-31 06750769 core:WithinOneYear 2024-01-31 06750769 core:WithinOneYear 2023-01-31 06750769 core:AfterOneYear 2024-01-31 06750769 core:AfterOneYear 2023-01-31 06750769 core:ShareCapital 2024-01-31 06750769 core:ShareCapital 2023-01-31 06750769 core:RetainedEarningsAccumulatedLosses 2024-01-31 06750769 core:RetainedEarningsAccumulatedLosses 2023-01-31 06750769 core:LandBuildings core:LongLeaseholdAssets 2023-01-31 06750769 core:PlantMachinery 2023-01-31 06750769 core:FurnitureFittings 2023-01-31 06750769 core:MotorVehicles 2023-01-31 06750769 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2024-01-31 06750769 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2023-01-31 06750769 bus:Director2 2023-01-31 06750769 bus:Director2 2024-01-31 06750769 bus:Director2 2022-01-31 06750769 bus:Director2 2023-01-31 06750769 bus:Director2 2022-02-01 2023-01-31 06750769 bus:SmallEntities 2023-02-01 2024-01-31 06750769 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 06750769 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 06750769 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 06750769 bus:FullAccounts 2023-02-01 2024-01-31
COMPANY REGISTRATION NUMBER: 06750769
ELECTROTEC SECURITY & ELECTRICAL LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 January 2024
ELECTROTEC SECURITY & ELECTRICAL LIMITED
STATEMENT OF FINANCIAL POSITION
31 January 2024
2024
2023
Note
£
£
£
£
Fixed Assets
Tangible assets
6
127,877
138,877
Current Assets
Stocks
26,000
14,000
Debtors
7
179,573
384,017
Cash at bank and in hand
199
253
-----------
-----------
205,772
398,270
Creditors: amounts falling due within one year
8
240,800
378,666
-----------
-----------
Net Current (Liabilities)/Assets
( 35,028)
19,604
-----------
-----------
Total Assets Less Current Liabilities
92,849
158,481
Creditors: amounts falling due after more than one year
9
89,723
116,284
---------
-----------
Net Assets
3,126
42,197
---------
-----------
ELECTROTEC SECURITY & ELECTRICAL LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 January 2024
2024
2023
Note
£
£
£
£
Capital and Reserves
Called up share capital
1,000
1,000
Profit and loss account
2,126
41,197
--------
---------
Shareholders Funds
3,126
42,197
--------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 October 2024 , and are signed on behalf of the board by:
K Emmerson
Director
Company registration number: 06750769
ELECTROTEC SECURITY & ELECTRICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 6 Helmsley Court, Broadhelm Business Park, Pocklington, York, YO42 1AE.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue Recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
10% straight line
Plant and equipment
-
20% reducing balance
Computer equipment
-
25% straight line
Motor vehicles
-
15% reducing balance
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance Leases and Hire Purchase Contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 12 (2023: 10 ).
5. Intangible Assets
Goodwill
£
Cost
At 1 February 2023 and 31 January 2024
24,324
---------
Amortisation
At 1 February 2023 and 31 January 2024
24,324
---------
Carrying amount
At 31 January 2024
---------
At 31 January 2023
---------
6. Tangible Assets
Long leasehold property
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 February 2023
8,750
35,635
6,318
153,122
203,825
Additions
1,228
34,990
36,218
Disposals
( 40,162)
( 40,162)
--------
---------
--------
-----------
-----------
At 31 January 2024
8,750
36,863
6,318
147,950
199,881
--------
---------
--------
-----------
-----------
Depreciation
At 1 February 2023
7,000
25,315
4,610
28,023
64,948
Charge for the year
2,236
546
17,892
20,674
Disposals
( 13,618)
( 13,618)
--------
---------
--------
-----------
-----------
At 31 January 2024
7,000
27,551
5,156
32,297
72,004
--------
---------
--------
-----------
-----------
Carrying amount
At 31 January 2024
1,750
9,312
1,162
115,653
127,877
--------
---------
--------
-----------
-----------
At 31 January 2023
1,750
10,320
1,708
125,099
138,877
--------
---------
--------
-----------
-----------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 31 January 2024
104,817
-----------
At 31 January 2023
106,602
-----------
7. Debtors
2024
2023
£
£
Trade debtors
79,364
259,455
Other debtors
100,209
124,562
-----------
-----------
179,573
384,017
-----------
-----------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
16,139
7,055
Trade creditors
82,389
216,673
Corporation tax
1,164
Social security and other taxes
89,447
50,735
Other creditors
51,661
104,203
-----------
-----------
240,800
378,666
-----------
-----------
Bank borrowing is secured against the assets of the company. Other creditors include £34,296 (2023-£21,359) for hire purchase liabilities secured against fixed assets.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
13,518
33,333
Other creditors
76,205
82,951
---------
-----------
89,723
116,284
---------
-----------
Bank borrowing is secured against the assets of the company. Other creditors include £76,205 (2023-£82,951) for hire purchase liabilities secured against fixed assets.
10. Directors' Advances, Credits and Guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
K Emmerson
88,690
( 27,259)
61,431
---------
-----
---------
---------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
K Emmerson
85,894
2,796
88,690
---------
--------
-----
---------
The balance is interest free and repayable on demand.