REGISTERED NUMBER: |
CESSATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 |
FOR |
ELEKTEC LTD |
REGISTERED NUMBER: |
CESSATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 |
FOR |
ELEKTEC LTD |
ELEKTEC LTD (REGISTERED NUMBER: 11004130) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ELEKTEC LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
and Statutory Auditors |
12 Market Street |
Hebden Bridge |
West Yorkshire |
HX7 6AD |
ELEKTEC LTD (REGISTERED NUMBER: 11004130) |
BALANCE SHEET |
31ST MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET (LIABILITIES)/ASSETS | ( |
) |
ELEKTEC LTD (REGISTERED NUMBER: 11004130) |
BALANCE SHEET - continued |
31ST MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The financial statements were approved by the Board of Directors and authorised for issue on |
ELEKTEC LTD (REGISTERED NUMBER: 11004130) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
1. | STATUTORY INFORMATION |
Elektec Ltd is a |
The functional and presentation currency of Elektec Ltd is considered to be pound sterling (£) because that is the currency of the primary economic environment in with the company operates. the financial statements have been prepared using round pounds only. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
On 29 September 2023 the company entered into a Business Asset Transfer Agreement, transferring the trade and assets to a fellow subsidiary undertaking, Greenarc Limited. Once this transaction was completed, the company ceased to trade with immediate effect. As a result of this, the financial statements have been prepared on a basis other than that of a going concern. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
Fixed assets are initially recorded at cost. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
ELEKTEC LTD (REGISTERED NUMBER: 11004130) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st April 2023 |
Disposals | ( |
) |
At 31st March 2024 |
DEPRECIATION |
At 1st April 2023 |
Eliminated on disposal | ( |
) |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 8) |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
ELEKTEC LTD (REGISTERED NUMBER: 11004130) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Other creditors |
8. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Non-cancellable | operating leases |
2024 | 2023 |
£ | £ |
Within one year |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was qualified on the following basis: |
Basis for qualified opinion |
The comparative financial statements were not subject to audit and as such we have not been able to gain audit comfort on the opening balances. |
We conducted our audit in accordance with International Standards on Auditing (UK)(ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence is sufficient and appropriate to provide a basis for our qualified opinion. |
for and on behalf of |
10. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
ELEKTEC LTD (REGISTERED NUMBER: 11004130) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
11. | ULTIMATE CONTROLLING PARTY |
The directors are of the opinion that there is no one individual ultimate controlling party. |
The company's parent undertaking, for whom consolidated financial statements are prepared, is Greenarc Energy Limited, a company registered in England and Wales, whose registered office is Greenarc first floor G Mill, Dean Clough, Halifax, HX3 5AX. |