IRIS Accounts Production v24.3.0.553 04137088 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh041370882023-03-31041370882024-03-31041370882023-04-012024-03-31041370882022-03-31041370882022-04-012023-03-31041370882023-03-3104137088ns15:EnglandWales2023-04-012024-03-3104137088ns14:PoundSterling2023-04-012024-03-3104137088ns10:Director12023-04-012024-03-3104137088ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3104137088ns10:SmallEntities2023-04-012024-03-3104137088ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3104137088ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3104137088ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104137088ns10:FullAccounts2023-04-012024-03-310413708812023-04-012024-03-3104137088ns10:Director22023-04-012024-03-3104137088ns10:Director42023-04-012024-03-3104137088ns10:Director52023-04-012024-03-3104137088ns10:Director62023-04-012024-03-3104137088ns10:CompanySecretary12023-04-012024-03-3104137088ns10:RegisteredOffice2023-04-012024-03-3104137088ns5:CurrentFinancialInstruments2024-03-3104137088ns5:CurrentFinancialInstruments2023-03-3104137088ns5:ShareCapital2024-03-3104137088ns5:ShareCapital2023-03-3104137088ns5:CapitalRedemptionReserve2024-03-3104137088ns5:CapitalRedemptionReserve2023-03-3104137088ns5:FurtherSpecificReserve3ComponentTotalEquity2024-03-3104137088ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3104137088ns5:RetainedEarningsAccumulatedLosses2024-03-3104137088ns5:RetainedEarningsAccumulatedLosses2023-03-3104137088ns5:NetGoodwill2023-04-012024-03-3104137088ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3104137088ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-04-012024-03-3104137088ns5:PlantMachinery2023-04-012024-03-3104137088ns5:FurnitureFittings2023-04-012024-03-3104137088ns5:ComputerEquipment2023-04-012024-03-3104137088ns5:NetGoodwill2023-03-3104137088ns5:NetGoodwill2024-03-3104137088ns5:NetGoodwill2023-03-3104137088ns5:LandBuildings2023-03-3104137088ns5:PlantMachinery2023-03-3104137088ns5:FurnitureFittings2023-03-3104137088ns5:ComputerEquipment2023-03-3104137088ns5:LandBuildings2023-04-012024-03-3104137088ns5:LandBuildings2024-03-3104137088ns5:PlantMachinery2024-03-3104137088ns5:FurnitureFittings2024-03-3104137088ns5:ComputerEquipment2024-03-3104137088ns5:LandBuildings2023-03-3104137088ns5:PlantMachinery2023-03-3104137088ns5:FurnitureFittings2023-03-3104137088ns5:ComputerEquipment2023-03-3104137088ns5:CostValuation2023-03-3104137088ns5:AdditionsToInvestments2024-03-3104137088ns5:RevaluationsIncreaseDecreaseInInvestments2024-03-3104137088ns5:CostValuation2024-03-3104137088ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3104137088ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3104137088ns5:RetainedEarningsAccumulatedLosses2023-03-3104137088ns5:CapitalRedemptionReserve2023-03-3104137088ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3104137088ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-31
REGISTERED NUMBER: 04137088 (England and Wales)





















Financial Statements

for the Year Ended 31 March 2024

for

ILECS Limited

ILECS Limited (Registered number: 04137088)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ILECS Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P Stillwell
C Snell
D Smith
P A Newton
T P Burman





SECRETARY: Ms J Cotton





REGISTERED OFFICE: The Old Mistley Clinic
New Road
Mistley
Manningtree
Essex
CO11 1ER





REGISTERED NUMBER: 04137088 (England and Wales)





ACCOUNTANTS: Baverstocks Group Limited
140 Rayne Road
Braintree
Essex
CM7 2QR

ILECS Limited (Registered number: 04137088)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 923,289 944,971
Investments 6 289,601 269,972
1,212,890 1,214,943

CURRENT ASSETS
Debtors 7 868,964 945,021
Cash at bank and in hand 771,754 991,181
1,640,718 1,936,202
CREDITORS
Amounts falling due within one year 8 777,937 712,238
NET CURRENT ASSETS 862,781 1,223,964
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,075,671

2,438,907

PROVISIONS FOR LIABILITIES 63,188 64,535
NET ASSETS 2,012,483 2,374,372

CAPITAL AND RESERVES
Called up share capital 9 593 545
Capital redemption reserve 10 156 156
Fair value reserve 10 90,997 74,540
Retained earnings 10 1,920,737 2,299,131
SHAREHOLDERS' FUNDS 2,012,483 2,374,372

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 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.

ILECS Limited (Registered number: 04137088)

Balance Sheet - continued
31 March 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 12 November 2024 and were signed on its behalf by:





P Stillwell - Director


ILECS Limited (Registered number: 04137088)

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

1. STATUTORY INFORMATION

ILECS 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 as modified by the revaluation of certain assets.

Turnover
Turnover comprises revenue recognised by the Company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the Income statement over its estimated economic life.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 33% on cost and Straight line over 25 years
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

ILECS Limited (Registered number: 04137088)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Investments are stated at fair value at the balance sheet date. Net gains and losses arising on movements in the of value of investments during the year are included in the Income statement.

Deferred tax on the gain or loss on the fair value of investments is recognised through the Income statement.

The net movement during the year is transferred from Retained earnings to a non distributable Fair value reserve.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2023 - 41 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 21,000
AMORTISATION
At 1 April 2023
and 31 March 2024 21,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 815,979 40,703 97,614 125,130 1,079,426
Additions 1,747 1,058 10,905 15,002 28,712
Disposals - - - (330 ) (330 )
At 31 March 2024 817,726 41,761 108,519 139,802 1,107,808
DEPRECIATION
At 1 April 2023 18,645 1,873 53,438 60,499 134,455
Charge for year 13,751 2,907 13,790 19,909 50,357
Eliminated on disposal - - - (293 ) (293 )
At 31 March 2024 32,396 4,780 67,228 80,115 184,519
NET BOOK VALUE
At 31 March 2024 785,330 36,981 41,291 59,687 923,289
At 31 March 2023 797,334 38,830 44,176 64,631 944,971

ILECS Limited (Registered number: 04137088)

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

6. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 1 269,971 269,972
Additions - 123 123
Revaluations - 19,506 19,506
At 31 March 2024 1 289,600 289,601
NET BOOK VALUE
At 31 March 2024 1 289,600 289,601
At 31 March 2023 1 269,971 269,972

Cost or valuation at 31 March 2024 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2015 - 18,994 18,994
Valuation in 2016 - (1,751 ) (1,751 )
Valuation in 2017 - 39,069 39,069
Valuation in 2018 - 2,423 2,423
Valuation in 2019 - (622 ) (622 )
Valuation in 2020 - (40,831 ) (40,831 )
Valuation in 2021 - 72,855 72,855
Valuation in 2022 - 7,142 7,142
Valuation in 2023 - (16,397 ) (16,397 )
Valuation in 2024 - 19,506 19,506
Cost 1 189,212 189,213
1 289,600 289,601

The Company holds 1 £1 Ordinary share in ILECS-FM Ltd. This wholly owned subsidiary is dormant.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 648,116 747,864
Other debtors 59,864 48,245
Prepayments 160,984 148,912
868,964 945,021

ILECS Limited (Registered number: 04137088)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 49,155 24,392
Tax - 84,318
Social security and other taxes 208,375 173,698
Other creditors 470,263 378,327
Accrued expenses 50,144 51,503
777,937 712,238

9. CALLED UP SHARE CAPITAL

During the year there was an allotment of 48 fully paid Ordinary B (2023: 50 Ordinary B) shares of £1 each.

These are held in trust in the Share Incentive Plan known as ILECS Ltd SIP.

10. RESERVES
Capital Fair
Retained redemption value
earnings reserve reserve Totals
£    £    £    £   

At 1 April 2023 2,299,131 156 74,540 2,373,827
Deficit for the year (40,311 ) - - (40,311 )
Dividends (321,626 ) - - (321,626 )
Unrealised gain/loss movement in
the year

(16,457

)

-

16,457

-

At 31 March 2024 1,920,737 156 90,997 2,011,890