1 April 2023 v2024.60.2 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP014750962023-04-012024-03-31014750962024-03-31014750962023-03-3101475096core:WithinOneYear2024-03-3101475096core:WithinOneYear2023-03-3101475096core:ShareCapital2024-03-3101475096core:ShareCapital2023-03-3101475096core:RetainedEarningsAccumulatedLosses2024-03-3101475096core:RetainedEarningsAccumulatedLosses2023-03-3101475096bus:Director12023-04-012024-03-3101475096bus:RegisteredOffice2023-04-012024-03-3101475096core:LandBuildings2023-04-012024-03-3101475096core:PlantMachinery2023-04-012024-03-3101475096core:FurnitureFittingsToolsEquipment2023-04-012024-03-3101475096core:MotorVehicles2023-04-012024-03-31014750962022-04-012023-03-3101475096core:LandBuildings2023-04-0101475096core:PlantMachinery2023-04-01014750962023-04-0101475096core:LandBuildings2024-03-3101475096core:PlantMachinery2024-03-3101475096core:LandBuildings2023-03-3101475096core:PlantMachinery2023-03-3101475096core:CostValuation2023-04-0101475096core:AdditionsToInvestments2024-03-3101475096core:CostValuation2024-03-3101475096core:ProvisionsForImpairmentInvestments2023-04-0101475096core:ImpairmentLossProvisionsForImpairmentInvestments2024-03-3101475096core:ProvisionsForImpairmentInvestments2024-03-3101475096core:AfterOneYear2024-03-3101475096core:AfterOneYear2023-03-310147509612023-04-012024-03-3101475096countries:EnglandWales2023-04-012024-03-3101475096bus:AuditExemptWithAccountantsReport2023-04-012024-03-3101475096bus:PrivateLimitedCompanyLtd2023-04-012024-03-3101475096bus:SmallEntities2023-04-012024-03-3101475096bus:FullAccounts2023-04-012024-03-31
Company registration number:
01475096
ELECTROMECH DESIGN & ASSEMBLY LIMITED
Unaudited Filleted Financial Statements for the year ended
31 March 2024
Christie Holyland Limited
Chartered Certified Accountants
7 High View Close, Hamilton Office Park, Leicester, Leicestershire, LE4 9LJ, United Kingdom
ELECTROMECH DESIGN & ASSEMBLY LIMITED
Report to the board of directors on the preparation of the unaudited statutory financial statements of ELECTROMECH DESIGN & ASSEMBLY LIMITED
Year ended
31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements
of
ELECTROMECH DESIGN & ASSEMBLY LIMITED
for the year ended
31 March 2024
which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Members/​Doc/​rule/​2018-rulebook.pdf.
This report is made solely to the Board of Directors of
ELECTROMECH DESIGN & ASSEMBLY LIMITED
, as a body, in accordance with the terms of our engagement letter dated 22 December 2021. Our work has been undertaken solely to prepare for your approval the
financial statements
of
ELECTROMECH DESIGN & ASSEMBLY LIMITED
and state those matters that we have agreed to state to the Board of Directors of
ELECTROMECH DESIGN & ASSEMBLY LIMITED
, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Technical/​fact/​tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
ELECTROMECH DESIGN & ASSEMBLY LIMITED
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
ELECTROMECH DESIGN & ASSEMBLY LIMITED
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and loss of
ELECTROMECH DESIGN & ASSEMBLY LIMITED
. You consider that
ELECTROMECH DESIGN & ASSEMBLY LIMITED
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of ELECTROMECH DESIGN & ASSEMBLY LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Christie Holyland Limited
Chartered Certified Accountants
Date:
27 November 2024
ELECTROMECH DESIGN & ASSEMBLY LIMITED
Statement of Financial Position
31 March 2024
20242023
Note££
Fixed assets    
Tangible assets 5
988,218
 
715,257
 
Investments 6
2
 
2
 
988,220
 
715,259
 
Current assets    
Stocks
17,619
 
19,381
 
Debtors 7
701,662
 
536,605
 
Cash at bank and in hand
453,704
 
956,777
 
1,172,985
 
1,512,763
 
Creditors: amounts falling due within one year 8
(369,610
)
(294,007
)
Net current assets
803,375
 
1,218,756
 
Total assets less current liabilities 1,791,595   1,934,015  
Capital and reserves    
Called up share capital
5,000
 
5,000
 
Profit and loss account
1,786,595
 
1,929,015
 
Shareholders funds
1,791,595
 
1,934,015
 
For the year ending
31 March 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
27 November 2024
, and are signed on behalf of the board by:
Mr. P Bates
Director
Company registration number:
01475096
ELECTROMECH DESIGN & ASSEMBLY LIMITED
Notes to the Financial Statements
Year ended
31 March 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
13 Dartford Road
,
Leicester
,
Leicestershire
,
LE2 7PQ
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared in respect of the company as an individual entity on the historical cost basis and are prepared in sterling, which is the functional currency of the company.

Consolidation

The entity has taken advantage of the option not to prepare consolidated
financial statements
contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
2% freehold and 10% leasehold straight line
Plant and machinery
15% straight line
Fixtures, fittings and equipment
20% straight line
Motor vehicles
25% straight line

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment

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 stocks to their present location and condition.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profits for the current and past periods. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted, or substantially enacted at the statement of financial position date.

Defined contribution pension plan

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.

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

4 Average number of employees

The average number of persons employed by the company during the year was
25
(2023:
26.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 April 2023
733,582
 
150,215
 
883,797
 
Additions
277,382
 
17,031
 
294,413
 
Disposals -  
(41,352
)
(41,352
)
At
31 March 2024
1,010,964
 
125,894
 
1,136,858
 
Depreciation      
At
1 April 2023
50,044
 
118,496
 
168,540
 
Charge
11,425
 
10,008
 
21,433
 
Disposals -  
(41,333
)
(41,333
)
At
31 March 2024
61,469
 
87,171
 
148,640
 
Carrying amount      
At
31 March 2024
949,495
 
38,723
 
988,218
 
At 31 March 2023
683,538
 
31,719
 
715,257
 
Included in Land & Buildings is Land of £487,585 which is not subject to depreciation (2023 : £437,585)

6 Investments

Shares in group undertakings and participating interestsLoans to group undertakings and participating interestsTotal
£££
Cost      
At
1 April 2023
2
 
323,219
 
323,221
 
Additions -  
3,000
 
3,000
 
At
31 March 2024
2
 
326,219
 
326,221
 
Impairment      
At
1 April 2023
-  
323,219
 
323,219
 
Impairment losses -  
3,000
 
3,000
 
At
31 March 2024
-  
326,219
 
326,219
 
Carrying amount      
At
31 March 2024
2
  -  
2
 
At 31 March 2023
2
  -  
2
 
The company has a subsidiary undertaking, Island Lighting Limited, whose registered office is 13 Dartford Road, Aylestone, Leicester LE2 7PQ. The holding is 100 Ordinary Shares and the percentage held is 100%.
The company has provided a rolling facility to the subsidiary, Island Lighting Limited in order to assist with its working capital requirements in the year to 31st March 2024. The facility is unsecured, interest-free and has no fixed date for repayment. The maximum facility advanced and the closing balance at 31st March 2024 amounted to £326,219 (2023 : £323,219). In addition, the company has paid the full remuneration of Mr. P.M. Bates and Mr. D.M. Bates, both of whom are directors of Island Lighting Limited.
The principal activity of Island Lighting Limited is the provision of amusement and recreation activities. It has required a significant fixed and working capital investment on the part of the parent company to establish the business and to support operating losses in the early years of trading. Because of the nature of the company's activities, Island Lighting Limited was closed during most of the 2020/2021 financial year as a result of the global pandemic and various national lockdowns. This has had a significant impact on the trading potential of the subsidiary and whilst the director believes that the results of Island Lighting Limited can still reach a point where a profitable return can be achieved, he recognises that this may now be only after several difficult trading years. The company's initial investment in Island Lighting Limited may not be recoverable within the foreseeable future and consequently, a provision for full impairment of the inter-company debt has been made, so as to ensure that the financial statements of Electromech Design & Assembly Limited show a true and fair view at the balance sheet date.

7 Debtors

20242023
££
Trade debtors
532,181
 
356,334
 
Other debtors
169,481
 
180,271
 
701,662
 
536,605
 
The debtors above include the following amounts falling due after more than one year:
20242023
££
Other debtors
2,300
 
3,500
 

8 Creditors: amounts falling due within one year

20242023
££
Trade creditors
37,569
 
39,405
 
Taxation and social security
107,831
 
65,212
 
Other creditors
224,210
 
189,390
 
369,610
 
294,007
 

9 Employee benefits

The director's aggregate remuneration in respect of qualifying services was: £85,296 (2023: £81,339)
The amount recognised in profit or loss in relation to defined contribution plans was £28,465 (2023: £27,506).
As the sponsoring employer, the Company pays certain of the administration and management expenses relating to the pension scheme. The total costs for the year were £3,370 (2023: £3,274)

10 Share capital

The company has Issued, called up and fully paid Share Capital of 5,000 £1 Ordinary Shares (2023 : 5,000 £1 shares)

11 Operating leases

The company as lessee    
20242023
££
Not later than 1 year
27,200
 
27,200
 
The company operates from premises that are owned by Electromech Design & Assembly Limited - Retirement Benefits Scheme, under rolling tenant's full repairing leases at annual rentals totalling £27,200. Due to the open-ended nature of these leases, it is not possible to assess the full future commitments arising.

12 Director's advances, credit and guarantees

Included in Other creditors is Directors loan account of £81,457 (2023 £52,738) and during the year there was no periods where the loan was overdrawn. (2023 None)

14 Controlling party

The company is under the direct control of Mr. P.M. Bates who is the sole director and shareholder.