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REGISTERED NUMBER: 11004130 (England and Wales)

















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: C Bingham
J P Sharp
M Crockett





REGISTERED OFFICE: Greenarc First Floor G Mill
Dean Clough
Halifax
HX3 5AX





REGISTERED NUMBER: 11004130 (England and Wales)





AUDITORS: Cresswells Accountants (UK) Limited
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 - 3,791

CURRENT ASSETS
Stocks - 19,875
Debtors 5 - 152,580
Cash at bank - 26,075
- 198,530
CREDITORS
Amounts falling due within one year 6 114,246 155,739
NET CURRENT (LIABILITIES)/ASSETS (114,246 ) 42,791
TOTAL ASSETS LESS CURRENT
LIABILITIES

(114,246

)

46,582

CREDITORS
Amounts falling due after more than one
year

7

-

(34,222

)

PROVISIONS FOR LIABILITIES - (822 )
NET (LIABILITIES)/ASSETS (114,246 ) 11,538

ELEKTEC LTD (REGISTERED NUMBER: 11004130)

BALANCE SHEET - continued
31ST MARCH 2024

2024 2023
Notes £    £    £    £   

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (114,346 ) 11,438
SHAREHOLDERS' FUNDS (114,246 ) 11,538

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 24th December 2024 and were signed on its behalf by:





J P Sharp - Director


ELEKTEC LTD (REGISTERED NUMBER: 11004130)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Elektec Ltd 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.

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
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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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 15 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023 4,748
Disposals (4,748 )
At 31st March 2024 -
DEPRECIATION
At 1st April 2023 957
Eliminated on disposal (957 )
At 31st March 2024 -
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 3,791

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 152,509
Other debtors - 71
- 152,580

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 10,000
Hire purchase contracts (see note 8) - 1,570
Trade creditors - 69,327
Amounts owed to group undertakings 114,246 -
Taxation and social security - 54,222
Other creditors - 20,620
114,246 155,739

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 - 21,672
Other creditors - 12,550
- 34,222

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year - 1,570

Non-cancellable operating leases
2024 2023
£    £   
Within one year - 100,178

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.

John Dakin BSc FCA (Senior Statutory Auditor)
for and on behalf of Cresswells Accountants (UK) Limited

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.