IRIS Accounts Production v24.2.0.383 00476993 director 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh004769932023-03-31004769932024-03-31004769932023-04-012024-03-31004769932022-03-31004769932022-04-012023-03-31004769932023-03-3100476993ns15:EnglandWales2023-04-012024-03-3100476993ns14:PoundSterling2023-04-012024-03-3100476993ns10:Director12023-04-012024-03-3100476993ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3100476993ns10:SmallEntities2023-04-012024-03-3100476993ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3100476993ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3100476993ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3100476993ns10:FullAccounts2023-04-012024-03-3100476993ns5:CurrentFinancialInstruments2024-03-3100476993ns5:CurrentFinancialInstruments2023-03-3100476993ns5:ShareCapital2024-03-3100476993ns5:ShareCapital2023-03-3100476993ns5:RevaluationReserve2024-03-3100476993ns5:RevaluationReserve2023-03-3100476993ns5:RetainedEarningsAccumulatedLosses2024-03-3100476993ns5:RetainedEarningsAccumulatedLosses2023-03-3100476993ns10:RegisteredOffice2023-04-012024-03-3100476993ns5:LandBuildings2023-03-3100476993ns5:PlantMachinery2023-03-3100476993ns5:FurnitureFittings2023-03-3100476993ns5:MotorVehicles2023-03-3100476993ns5:LandBuildings2023-04-012024-03-3100476993ns5:PlantMachinery2023-04-012024-03-3100476993ns5:FurnitureFittings2023-04-012024-03-3100476993ns5:MotorVehicles2023-04-012024-03-3100476993ns5:LandBuildings2024-03-3100476993ns5:PlantMachinery2024-03-3100476993ns5:FurnitureFittings2024-03-3100476993ns5:MotorVehicles2024-03-3100476993ns5:LandBuildings2023-03-3100476993ns5:PlantMachinery2023-03-3100476993ns5:FurnitureFittings2023-03-3100476993ns5:MotorVehicles2023-03-3100476993ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3100476993ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3100476993ns5:Secured2024-03-3100476993ns5:Secured2023-03-3100476993ns5:RevaluationReserve2023-03-31
REGISTERED NUMBER: 00476993 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Elerbanks Limited

Elerbanks Limited (Registered number: 00476993)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Elerbanks Limited (Registered number: 00476993)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 143,974 151,121

CURRENT ASSETS
Debtors 5 264,245 171,941
Cash at bank 520,181 455,956
784,426 627,897
CREDITORS
Amounts falling due within one year 6 623,214 446,547
NET CURRENT ASSETS 161,212 181,350
TOTAL ASSETS LESS CURRENT LIABILITIES 305,186 332,471

PROVISIONS FOR LIABILITIES 2,814 1,458
NET ASSETS 302,372 331,013

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Revaluation reserve 8 29,386 30,277
Retained earnings 270,986 298,736
SHAREHOLDERS' FUNDS 302,372 331,013

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

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

The director acknowledges his 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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2024 and were signed by:





Mr P R Jones - Director


Elerbanks Limited (Registered number: 00476993)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Elerbanks Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00476993

Registered office: 55 Mount Pleasant Road
Wallasey
Wirral
CH45 5EN

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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

Turnover represents net invoiced sales of services, excluding value added tax. Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

Tangible fixed assets
Tangible fixed assets are stated at historical cost, modified for the revaluation of the company's property, less accumulated depreciation and any provision for impairment. Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold property-Straight line over 46 years
Plant and machinery-25% on reducing balance method
Fixtures and fittings-15% on reducing balance method
Motor vehicles- 25% on reducing balance method

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of significant change since the last reporting date.

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other payables are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Employee benefits
The cost of short term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement and of holidays taken in advance is recognised in the period in which the employees services are received.


Elerbanks Limited (Registered number: 00476993)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 contributes to defined contribution pension schemes for certain directors and staff. Contributions are charged to the profit and loss account as incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2023 185,000 34,475 3,988 29,755 253,218
Additions - 627 - - 627
At 31 March 2024 185,000 35,102 3,988 29,755 253,845
DEPRECIATION
At 1 April 2023 48,259 32,780 3,988 17,070 102,097
Charge for year 4,022 581 - 3,171 7,774
At 31 March 2024 52,281 33,361 3,988 20,241 109,871
NET BOOK VALUE
At 31 March 2024 132,719 1,741 - 9,514 143,974
At 31 March 2023 136,741 1,695 - 12,685 151,121

Elerbanks Limited (Registered number: 00476993)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

On transition to FRS 102 the company elected to use a previous revaluation of its freehold property in 2011 as its deemed cost at the revaluation date. This property has been depreciated from the valuation date and an amount equivalent to the depreciation on the increase in value over cost is transferred from the revaluation reserve to retained earnings each year.

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2011 185,000 - - - 185,000
Cost - 35,102 3,988 29,755 68,845
185,000 35,102 3,988 29,755 253,845

If freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 144,031 144,031
Aggregate depreciation 60,145 57,014

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 245,131 148,715
Other debtors 19,114 23,226
264,245 171,941

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 2,792
Trade creditors 265,561 223,471
Taxation and social security 68,472 41,677
Other creditors 289,181 178,607
623,214 446,547

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 2,792

The bank overdraft facility is secured by a legal mortgage over the company's property and a floating charge over plant and machinery. Assets held under hire purchase contracts are charged until the related liability is fully discharged.

Elerbanks Limited (Registered number: 00476993)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. RESERVES
Revaluation
reserve
£   
At 1 April 2023 30,277
Transfer (891 )

At 31 March 2024 29,386