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REGISTERED NUMBER: 02613425 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

THE ELECTRIC DESIGN COMPANY LIMITED

THE ELECTRIC DESIGN COMPANY LIMITED (REGISTERED NUMBER: 02613425)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE ELECTRIC DESIGN COMPANY LIMITED

COMPANY INFORMATION
for the year ended 31 July 2024







DIRECTORS: B M Kennedy
Mrs J D Kennedy





SECRETARY: Mrs J D Kennedy





REGISTERED OFFICE: Green Top Barn
Holme House Lane
Oakworth
West Yorkshire
BD22 0QX





REGISTERED NUMBER: 02613425 (England and Wales)





ACCOUNTANTS: Baty Casson Long
6 Lascelles Road
Harrogate
HG2 0LA

THE ELECTRIC DESIGN COMPANY LIMITED (REGISTERED NUMBER: 02613425)

BALANCE SHEET
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,093 5,457
Investments 5 2 2
Investment property 6 334,033 334,033
338,128 339,492

CURRENT ASSETS
Stocks 7 1,200 680
Debtors 8 9,558 7,638
10,758 8,318
CREDITORS
Amounts falling due within one year 9 79,125 79,475
NET CURRENT LIABILITIES (68,367 ) (71,157 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

269,761

268,335

CREDITORS
Amounts falling due after more than one
year

10

(37,456

)

(57,664

)

PROVISIONS FOR LIABILITIES (777 ) (1,053 )
NET ASSETS 231,528 209,618

CAPITAL AND RESERVES
Called up share capital 11 3,000 3,000
Capital redemption reserve 12 6,000 6,000
Retained earnings 12 222,528 200,618
SHAREHOLDERS' FUNDS 231,528 209,618

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

THE ELECTRIC DESIGN COMPANY LIMITED (REGISTERED NUMBER: 02613425)

BALANCE SHEET - continued
31 July 2024


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2024 and were signed on its behalf by:





B M Kennedy - Director


THE ELECTRIC DESIGN COMPANY LIMITED (REGISTERED NUMBER: 02613425)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2024

1. STATUTORY INFORMATION

The Electric Design Company 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on the going concern basis which assumes the continued support of the bank and creditors and the company's ability to generate positive cash flow. In the opinion of the directors, the going concern basis is appropriate for the preparation of the accounts.

Turnover
Turnover represents amounts receivable for goods and services supplied, net of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks excluding work in progress are stated at the lower of cost or net realisable value. In establishing cost, stocks at the period end are taken to represent latest purchases. Net realisable value is based on estimated selling price after taking into account all further costs expected to be incurred on completion and disposal. Work in progress is valued at selling price on a part-completed basis.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

THE ELECTRIC DESIGN COMPANY LIMITED (REGISTERED NUMBER: 02613425)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

2. ACCOUNTING POLICIES - continued

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 scheme for the benefit of the directors. Contributions are charged to the profit and loss account as an when made. The pension costs for the period amounted to £nil (2023: £nil). Contributions reported are in respect of one director.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 August 2023
and 31 July 2024 47,927
DEPRECIATION
At 1 August 2023 42,470
Charge for year 1,364
At 31 July 2024 43,834
NET BOOK VALUE
At 31 July 2024 4,093
At 31 July 2023 5,457

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 August 2023
and 31 July 2024 2
NET BOOK VALUE
At 31 July 2024 2
At 31 July 2023 2

THE ELECTRIC DESIGN COMPANY LIMITED (REGISTERED NUMBER: 02613425)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023
and 31 July 2024 334,033
NET BOOK VALUE
At 31 July 2024 334,033
At 31 July 2023 334,033

7. STOCKS
31.7.24 31.7.23
£    £   
Work-in-progress 1,200 680

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 6,255 4,424
Prepayments and accrued income 3,303 3,214
9,558 7,638

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 36,095 31,898
Trade creditors 2,571 7,079
Tax 5,687 9,539
Social security and other taxes 11,613 11,308
Director's current account 157 99
Accruals and deferred income 23,002 19,552
79,125 79,475

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans - 2-5 years 37,456 57,664

Bank loans and overdrafts of £73,551 are secured by a mortgage deed in favour of Lloyds Bank plc creating fixed and floating charges over all of the assets of the company.

THE ELECTRIC DESIGN COMPANY LIMITED (REGISTERED NUMBER: 02613425)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
3,000 ordinary £1 3,000 3,000

12. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 August 2023 200,618 6,000 206,618
Profit for the year 34,410 34,410
Dividends (12,500 ) (12,500 )
At 31 July 2024 222,528 6,000 228,528

13. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr B M Kennedy.

14. GROUP ACCOUNTS

The company has taken an option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements incorporating its wholly owned dormant subsidiary: The Electric Artwork Company Limited. The accounts therefore contain information about the company only as an individual company. At 31st July 2024 the aggregate share capital and reserves of The Electric Artwork Company Limited was £2.