IRIS Accounts Production v24.3.0.553 07598115 Board of Directors 30.4.23 29.4.24 29.4.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh075981152023-04-29075981152024-04-29075981152023-04-302024-04-29075981152022-04-29075981152022-04-302023-04-29075981152023-04-2907598115ns15:EnglandWales2023-04-302024-04-2907598115ns14:PoundSterling2023-04-302024-04-2907598115ns10:Director12023-04-302024-04-2907598115ns10:PrivateLimitedCompanyLtd2023-04-302024-04-2907598115ns10:SmallEntities2023-04-302024-04-2907598115ns10:AuditExempt-NoAccountantsReport2023-04-302024-04-2907598115ns10:SmallCompaniesRegimeForDirectorsReport2023-04-302024-04-2907598115ns10:SmallCompaniesRegimeForAccounts2023-04-302024-04-2907598115ns10:FullAccounts2023-04-302024-04-290759811512023-04-302024-04-2907598115ns5:CurrentFinancialInstruments2024-04-2907598115ns5:CurrentFinancialInstruments2023-04-2907598115ns5:ShareCapital2024-04-2907598115ns5:ShareCapital2023-04-2907598115ns5:RetainedEarningsAccumulatedLosses2024-04-2907598115ns5:RetainedEarningsAccumulatedLosses2023-04-2907598115ns10:RegisteredOffice2023-04-302024-04-2907598115ns5:IntangibleAssetsOtherThanGoodwill2023-04-302024-04-2907598115ns5:NetGoodwill2023-04-2907598115ns5:NetGoodwill2023-04-302024-04-2907598115ns5:NetGoodwill2024-04-2907598115ns5:NetGoodwill2023-04-2907598115ns5:ShortLeaseholdAssetsns5:LandBuildings2023-04-2907598115ns5:PlantMachinery2023-04-2907598115ns5:FurnitureFittings2023-04-2907598115ns5:MotorVehicles2023-04-2907598115ns5:ShortLeaseholdAssetsns5:LandBuildings2023-04-302024-04-2907598115ns5:PlantMachinery2023-04-302024-04-2907598115ns5:FurnitureFittings2023-04-302024-04-2907598115ns5:MotorVehicles2023-04-302024-04-2907598115ns5:ShortLeaseholdAssetsns5:LandBuildings2024-04-2907598115ns5:PlantMachinery2024-04-2907598115ns5:FurnitureFittings2024-04-2907598115ns5:MotorVehicles2024-04-2907598115ns5:ShortLeaseholdAssetsns5:LandBuildings2023-04-2907598115ns5:PlantMachinery2023-04-2907598115ns5:FurnitureFittings2023-04-2907598115ns5:MotorVehicles2023-04-2907598115ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-2907598115ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-2907598115ns5:DeferredTaxation2023-04-302024-04-2907598115ns5:DeferredTaxation2024-04-29
REGISTERED NUMBER: 07598115 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 APRIL 2024

FOR

H.M. ELECTRIC MOTOR REP. & SALES CO LTD

H.M. ELECTRIC MOTOR REP. & SALES CO LTD (REGISTERED NUMBER: 07598115)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 APRIL 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


H.M. ELECTRIC MOTOR REP. & SALES CO LTD (REGISTERED NUMBER: 07598115)

STATEMENT OF FINANCIAL POSITION
29 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,667 10,000
Property, plant and equipment 5 29,083 16,270
35,750 26,270

CURRENT ASSETS
Inventories 4,975 4,275
Debtors 6 126,591 114,407
Cash at bank 209,572 209,383
341,138 328,065
CREDITORS
Amounts falling due within one year 7 94,068 111,337
NET CURRENT ASSETS 247,070 216,728
TOTAL ASSETS LESS CURRENT
LIABILITIES

282,820

242,998

PROVISIONS FOR LIABILITIES 8 4,602 -
NET ASSETS 278,218 242,998

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 278,118 242,898
278,218 242,998

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 April 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.

H.M. ELECTRIC MOTOR REP. & SALES CO LTD (REGISTERED NUMBER: 07598115)

STATEMENT OF FINANCIAL POSITION - continued
29 APRIL 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 18 November 2024 and were signed on its behalf by:





Mr A E Mehmet - Director


H.M. ELECTRIC MOTOR REP. & SALES CO LTD (REGISTERED NUMBER: 07598115)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 APRIL 2024

1. STATUTORY INFORMATION

H.M. Electric Motor Rep. & Sales Co Ltd 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: 07598115

Registered office: Unit 5 Leaside Business Centre
Millmarsh Lane
Enfield
Middlesex
EN3 7BJ

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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicle - 25% on reducing balance

H.M. ELECTRIC MOTOR REP. & SALES CO LTD (REGISTERED NUMBER: 07598115)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 APRIL 2024

2. ACCOUNTING POLICIES - continued

Inventory
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of inventory sold is recognised as an expense in the period in which the related revenue is recognised.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

H.M. ELECTRIC MOTOR REP. & SALES CO LTD (REGISTERED NUMBER: 07598115)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 APRIL 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 30 April 2023
and 29 April 2024 50,000
AMORTISATION
At 30 April 2023 40,000
Charge for year 3,333
At 29 April 2024 43,333
NET BOOK VALUE
At 29 April 2024 6,667
At 29 April 2023 10,000

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 30 April 2023 10,673 3,139 2,872 39,490 56,174
Additions - - 891 13,120 14,011
At 29 April 2024 10,673 3,139 3,763 52,610 70,185
DEPRECIATION
At 30 April 2023 - 1,918 2,081 35,905 39,904
Charge for year - 183 119 896 1,198
At 29 April 2024 - 2,101 2,200 36,801 41,102
NET BOOK VALUE
At 29 April 2024 10,673 1,038 1,563 15,809 29,083
At 29 April 2023 10,673 1,221 791 3,585 16,270

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 121,900 114,407
Other debtors 4,691 -
126,591 114,407

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 27,592 33,412
Taxation and social security 60,871 45,770
Other creditors 5,605 32,155
94,068 111,337

H.M. ELECTRIC MOTOR REP. & SALES CO LTD (REGISTERED NUMBER: 07598115)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 APRIL 2024

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 4,602 -

Deferred
tax
£   
Provided during year 4,602
Balance at 29 April 2024 4,602

9. RELATED PARTY DISCLOSURES

Included in other creditors less than one year is an amount of £Nil (2023: £29,655) due to the directors of the company which was repayable on demand.