Company No:
Contents
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
|
|
|
Tangible assets | 4 |
|
|
|
23,949 | 19,830 | |||
Current assets | ||||
Stocks |
|
|
||
Debtors | 5 |
|
|
|
Cash at bank and in hand |
|
|
||
402,879 | 254,201 | |||
Creditors: amounts falling due within one year | 6 | (
|
(
|
|
Net current assets | 84,577 | 68,590 | ||
Total assets less current liabilities | 108,526 | 88,420 | ||
Creditors: amounts falling due after more than one year | 7 | (
|
(
|
|
Net liabilities | (
|
(
|
||
Capital and reserves | ||||
Called-up share capital |
|
|
||
Profit and loss account | (
|
(
|
||
Total shareholder's deficit | (
|
(
|
Director's responsibilities:
The financial statements of Transec Electric Limited (registered number:
J Zahnbrecher
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Transec Electric Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 40 High West Street, Dorchester, DT1 1UR, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The parent company, Streamer Electric AG, and Ehot Energy Holding & Trading Ltd, a company controlled by the majority beneficial owners of Streamer Electric AG, have provided the company with £114,743 of long term funding. Taking into account the long term funding available to the company, the director has prepared the accounts on the going concern basis.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Goodwill |
|
Other intangible assets |
|
Vehicles |
|
Office equipment |
|
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
|
|
Goodwill | Other intangible assets | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 January 2023 |
|
|
|
||
At 31 December 2023 |
|
|
|
||
Accumulated amortisation | |||||
At 01 January 2023 |
|
|
|
||
Charge for the financial year |
|
|
|
||
At 31 December 2023 |
|
|
|
||
Net book value | |||||
At 31 December 2023 |
|
|
|
||
At 31 December 2022 |
|
|
|
Vehicles | Office equipment | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 January 2023 |
|
|
|
||
Additions |
|
|
|
||
At 31 December 2023 |
|
|
|
||
Accumulated depreciation | |||||
At 01 January 2023 |
|
|
|
||
Charge for the financial year |
|
|
|
||
At 31 December 2023 |
|
|
|
||
Net book value | |||||
At 31 December 2023 |
|
|
|
||
At 31 December 2022 |
|
|
|
2023 | 2022 | ||
£ | £ | ||
Trade debtors |
|
|
|
Other debtors |
|
|
|
|
|
2023 | 2022 | ||
£ | £ | ||
Bank loans |
|
|
|
Trade creditors |
|
|
|
Amounts owed to Parent undertakings |
|
|
|
Other taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
2023 | 2022 | ||
£ | £ | ||
Bank loans |
|
|
|
Amounts owed to Parent undertakings |
|
|
|
Other creditors |
|
|
|
|
|