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Registration number: 12373139

Ergo Devices Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Ergo Devices Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Ergo Devices Ltd

Company Information

Directors

R Bhala

R Lunga

M Silver

Registered office

1 Rainbow Court
Armstrong Way
Yate
Bristol
BS37 5NG

Accountants

Burton Sweet Ltd
Chartered Accountants and Business Advisors
Cooper House
Lower Charlton Estate
Shepton Mallet
BA4 5QE

 

Ergo Devices Ltd

(Registration number: 12373139)
Balance Sheet
30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

684,004

694,302

Investments

5

3,198,018

3,198,018

 

3,882,022

3,892,320

Current assets

 

Debtors

6

588,761

578,625

Cash at bank and in hand

 

14,099

135,508

 

602,860

714,133

Creditors: Amounts falling due within one year

7

(448,806)

(621,885)

Net current assets

 

154,054

92,248

Total assets less current liabilities

 

4,036,076

3,984,568

Creditors: Amounts falling due after more than one year

7

(396,469)

(935,265)

Net assets

 

3,639,607

3,049,303

Capital and reserves

 

Called up share capital

100

100

Share premium reserve

502,312

502,312

Retained earnings

3,137,195

2,546,891

Shareholders' funds

 

3,639,607

3,049,303

 

Ergo Devices Ltd

(Registration number: 12373139)
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.

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.

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.

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

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

 

Ergo Devices Ltd

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
Yate
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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for property rental inocme.

Tax

The tax expense for the period comprises current tax. Tax 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.

 

Ergo Devices Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

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.

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

Property

2% per annum straight line

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value. Interest expense is recognised in the profit and loss account and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Ergo Devices Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 May 2023

714,898

714,898

At 30 April 2024

714,898

714,898

Depreciation

At 1 May 2023

20,596

20,596

Charge for the year

10,298

10,298

At 30 April 2024

30,894

30,894

Carrying amount

At 30 April 2024

684,004

684,004

At 30 April 2023

694,302

694,302

5

Investments

Subsidiaries

£

Cost or valuation

At 1 May 2023

3,198,018

Provision

Carrying amount

At 30 April 2024

3,198,018

At 30 April 2023

3,198,018

 

Ergo Devices Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Ergochair Limited

United Kingdom

Ordinary shares

100%

100%

6

Debtors

2024
£

2023
£

Amounts owed by related parties

73,912

-

Other debtors

514,849

450,000

Accrued income

-

128,625

588,761

578,625

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

445,000

325,000

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

162,401

Taxation and social security

 

2,555

-

Accruals and deferred income

 

1,200

1,100

Other creditors

 

51

133,384

 

448,806

621,885

 

Ergo Devices Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

396,469

935,265

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

396,469

935,265

Current loans and borrowings

2024
£

2023
£

Bank borrowings

445,000

325,000

Other borrowings

The bank borrowings are secured by a fixed and flaoting charges over the assets of the company.