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Registration number: 05109180

Ergochair Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Ergochair Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Ergochair Limited

Company Information

Directors

N J Arnold

R Bhala

R Lunga

M Silver

Registered office

1 Rainbow Court
Armstrong Way
Bristol
BS37 5NG

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisers
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

Ergochair Limited

(Registration number: 05109180)
Balance Sheet
30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

1,563

2,371

Tangible assets

6

67,514

36,525

 

69,077

38,896

Current assets

 

Stocks

7

836,022

720,163

Debtors

8

802,291

1,041,640

Cash at bank and in hand

 

628,728

782,138

 

2,267,041

2,543,941

Creditors: Amounts falling due within one year

9

(963,075)

(1,068,367)

Net current assets

 

1,303,966

1,475,574

Total assets less current liabilities

 

1,373,043

1,514,470

Provisions for liabilities

(13,921)

(13,921)

Net assets

 

1,359,122

1,500,549

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,359,022

1,500,449

Shareholders' funds

 

1,359,122

1,500,549

 

Ergochair Limited

(Registration number: 05109180)
Balance Sheet
30 April 2024

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised by the Board on 14 January 2025 and signed on its behalf by:
 

.........................................
R Lunga
Director

 

Ergochair Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Rainbow Court
Armstrong Way
Bristol
BS37 5NG

These financial statements were authorised for issue by the Board on 14 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

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.

 

Ergochair Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax and is recognised in profit or loss, 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.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% per annum straight line

Fixtures and fittings

15% per annum straight line

Office equipment

25% per annum straight line

 

Ergochair Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

Motor vehicles

20% per annum straight line

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Intellectual property

10% per annum straight line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business and are recognised initially at the transaction price.

A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods comprises direct materials. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

Ergochair Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 25 (2023 - 21).

 

Ergochair Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

16,220

29,773

Amortisation expense

808

884

5

Intangible assets

Intellectual Property
 £

Total
£

Cost or valuation

At 1 May 2023

15,270

15,270

At 30 April 2024

15,270

15,270

Amortisation

At 1 May 2023

12,899

12,899

Amortisation charge

808

808

At 30 April 2024

13,707

13,707

Carrying amount

At 30 April 2024

1,563

1,563

At 30 April 2023

2,371

2,371

 

Ergochair Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

6

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 May 2023

-

123,671

50,735

63,233

Additions

30,980

-

-

729

At 30 April 2024

30,980

123,671

50,735

63,962

Depreciation

At 1 May 2023

-

115,912

43,573

41,629

Charge for the year

1,549

2,897

3,279

7,720

At 30 April 2024

1,549

118,809

46,852

49,349

Carrying amount

At 30 April 2024

29,431

4,862

3,883

14,613

At 30 April 2023

-

7,759

7,162

21,604

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

-

237,639

Additions

15,500

47,209

At 30 April 2024

15,500

284,848

Depreciation

At 1 May 2023

-

201,114

Charge for the year

775

16,220

At 30 April 2024

775

217,334

Carrying amount

At 30 April 2024

14,725

67,514

At 30 April 2023

-

36,525

 

Ergochair Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

7

Stocks

2024
£

2023
£

Other inventories

836,022

720,163

8

Debtors

2024
£

2023
£

Trade debtors

748,425

868,183

Amounts owed by related parties

5,400

162,401

Other debtors

30,772

-

Prepayments

17,694

11,056

802,291

1,041,640

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

453,423

468,260

Amounts owed to related parties

73,912

-

Taxation and social security

333,533

375,205

Accruals and deferred income

100,832

221,841

Other creditors

1,375

3,061

963,075

1,068,367

 

Ergochair Limited

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £882,000 (2023 - £955,500).