Registered number
08498706
ELECTRIC STAR HACKNEY DOWNS LTD
Filleted Accounts
31 October 2024
ELECTRIC STAR HACKNEY DOWNS LTD
Registered number: 08498706
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 6,750 11,250
Tangible assets 4 264,659 282,231
271,409 293,481
Current assets
Stocks 11,909 10,574
Debtors 5 60,595 63,856
Cash at bank and in hand 19,101 19,185
91,605 93,615
Creditors: amounts falling due within one year 6 (109,512) (184,919)
Net current liabilities (17,907) (91,304)
Total assets less current liabilities 253,502 202,177
Provisions for liabilities (11,742) (11,986)
Net assets 241,760 190,191
Capital and reserves
Called up share capital 100 100
Profit and loss account 241,660 190,091
Shareholders' funds 241,760 190,191
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Hives
Director
Approved by the board on 2 December 2024
ELECTRIC STAR HACKNEY DOWNS LTD
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Goodwill 10% Straight Line
Plant and machinery 25% Straight Line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 15
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2023 45,000
At 31 October 2024 45,000
Amortisation
At 1 November 2023 33,750
Provided during the year 4,500
At 31 October 2024 38,250
Net book value
At 31 October 2024 6,750
At 31 October 2023 11,250
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 November 2023 296,801 85,638 382,439
Additions - 6,481 6,481
Disposals - (430) (430)
At 31 October 2024 296,801 91,689 388,490
Depreciation
At 1 November 2023 77,658 22,550 100,208
Charge for the year 16,287 7,641 23,928
On disposals - (305) (305)
At 31 October 2024 93,945 29,886 123,831
Net book value
At 31 October 2024 202,856 61,803 264,659
At 31 October 2023 219,143 63,088 282,231
5 Debtors 2024 2023
£ £
Trade debtors - 1,980
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 4,625
Prepayments 23,822 20,478
Rent Deposits 36,773 36,773
60,595 63,856
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 20,833 30,833
Trade creditors 31,035 120,475
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 5,000
Taxation and social security costs 50,144 18,375
Accruals 7,500 10,236
109,512 184,919
7 Controlling party
The Company is ultimately controlled by Rob Hives Esq.
8 Other information
ELECTRIC STAR HACKNEY DOWNS LTD is a private company limited by shares and incorporated in England. Its registered office is:
359 Bethnal Green Road
London
E2 6LG
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