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Company Registration No. 01364984 (England and Wales)
NORTEK ELECTRONIC CIRCUITS LIMITED Unaudited accounts for the year ended 30 April 2024
NORTEK ELECTRONIC CIRCUITS LIMITED Unaudited accounts Contents
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NORTEK ELECTRONIC CIRCUITS LIMITED Company Information for the year ended 30 April 2024
Directors
Rachael Watson Gareth Davies
Company Number
01364984 (England and Wales)
Registered Office
Nortek Electronic Circuits Ltd Bridge Mill Royle Street Congleton Cheshire CW12 1HR England
Accountants
Omega Accounting Ltd
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NORTEK ELECTRONIC CIRCUITS LIMITED Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
133,316 
109,061 
Current assets
Inventories
55,179 
53,760 
Debtors
310,619 
254,317 
Cash at bank and in hand
857,777 
989,587 
1,223,575 
1,297,664 
Creditors: amounts falling due within one year
(151,791)
(234,613)
Net current assets
1,071,784 
1,063,051 
Total assets less current liabilities
1,205,100 
1,172,112 
Provisions for liabilities
Deferred tax
(23,179)
(15,899)
Net assets
1,181,921 
1,156,213 
Capital and reserves
Called up share capital
3,800 
3,800 
Share premium
1,000 
1,000 
Capital redemption reserve
200 
200 
Profit and loss account
1,176,921 
1,151,213 
Shareholders' funds
1,181,921 
1,156,213 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 January 2025 and were signed on its behalf by
Gareth Davies Director Company Registration No. 01364984
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NORTEK ELECTRONIC CIRCUITS LIMITED Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
NORTEK ELECTRONIC CIRCUITS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 01364984. The registered office is Nortek Electronic Circuits Ltd, Bridge Mill, Royle Street, Congleton, Cheshire, CW12 1HR, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Judgements and Key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. (a) Critical accounting estimates and assumptions The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. (i) Useful economic lives of tangible assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. See tangible assets note for the carrying amount of the assets and the accounting policy for the useful economic lives for each class of assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
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NORTEK ELECTRONIC CIRCUITS LIMITED Notes to the Accounts for the year ended 30 April 2024
Tangible fixed assets and depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. Impairment of Fixed Assets A review for indicators of impairment is carried out at each reporting date, with recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purpose of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The cash- generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or group of assets. Depreciation Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Land & buildings
2% reducing balance
Plant & machinery
10& reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
10& reducing balance
Computer equipment
10% reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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NORTEK ELECTRONIC CIRCUITS LIMITED Notes to the Accounts for the year ended 30 April 2024
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 May 2023
20,754 
502,610 
35,243 
17,358 
64,078 
640,043 
Additions
32,960 
- 
- 
651 
2,065 
35,676 
At 30 April 2024
53,714 
502,610 
35,243 
18,009 
66,143 
675,719 
Depreciation
At 1 May 2023
9,204 
424,194 
31,859 
15,660 
50,065 
530,982 
Charge for the year
890 
7,842 
846 
235 
1,608 
11,421 
At 30 April 2024
10,094 
432,036 
32,705 
15,895 
51,673 
542,403 
Net book value
At 30 April 2024
43,620 
70,574 
2,538 
2,114 
14,470 
133,316 
At 30 April 2023
11,550 
78,416 
3,384 
1,698 
14,013 
109,061 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
243,019 
170,256 
Other debtors
67,600 
84,061 
310,619 
254,317 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
53,446 
83,190 
Taxes and social security
68,243 
133,305 
Other creditors
30,102 
18,118 
151,791 
234,613 
7
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Loan
48,323 
53 
13,800 
34,576 
48,323 
53 
13,800 
34,576 
8
Controlling party
The company is a wholly owned subsidiary of Nortek Electronic Holdings Limited, a company registered in England and Wales.
9
Post balance sheet events
There were no material events up to the date of approval of the financial statements by the board.
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NORTEK ELECTRONIC CIRCUITS LIMITED Notes to the Accounts for the year ended 30 April 2024
10
Average number of employees
During the year the average number of employees was 14 (2023: 16).
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