IRIS Accounts Productionv24.3.2.4608505605Board of Directors1.5.2330.4.2430.4.2431/1/2025falsetruefalsefalsefalsetruefalseAuditors OpinionOrdinary1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh085056052023-04-30085056052024-04-30085056052023-05-012024-04-30085056052022-04-30085056052022-05-012023-04-30085056052023-04-3008505605ns15:EnglandWales2023-05-012024-04-3008505605ns14:PoundSterling2023-05-012024-04-3008505605ns10:Director12023-05-012024-04-3008505605ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3008505605ns10:SmallEntities2023-05-012024-04-3008505605ns10:Audited2023-05-012024-04-3008505605ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3008505605ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3008505605ns10:FullAccounts2023-05-012024-04-300850560512023-05-012024-04-3008505605ns10:OrdinaryShareClass12023-05-012024-04-3008505605ns10:Director22023-05-012024-04-3008505605ns10:RegisteredOffice2023-05-012024-04-3008505605ns5:CurrentFinancialInstruments2024-04-3008505605ns5:CurrentFinancialInstruments2023-04-3008505605ns5:ShareCapital2024-04-3008505605ns5:ShareCapital2023-04-3008505605ns5:RetainedEarningsAccumulatedLosses2024-04-3008505605ns5:RetainedEarningsAccumulatedLosses2023-04-3008505605ns5:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3008505605ns5:ComputerSoftware2023-05-012024-04-3008505605ns5:LandBuildings2023-05-012024-04-3008505605ns5:PlantMachinery2023-05-012024-04-3008505605ns5:IntangibleAssetsOtherThanGoodwill2023-04-3008505605ns5:IntangibleAssetsOtherThanGoodwill2024-04-3008505605ns5:IntangibleAssetsOtherThanGoodwill2023-04-3008505605ns5:LongLeaseholdAssetsns5:LandBuildings2023-04-3008505605ns5:PlantMachinery2023-04-3008505605ns5:FurnitureFittings2023-04-3008505605ns5:MotorVehicles2023-04-3008505605ns5:LongLeaseholdAssetsns5:LandBuildings2023-05-012024-04-3008505605ns5:FurnitureFittings2023-05-012024-04-3008505605ns5:MotorVehicles2023-05-012024-04-3008505605ns5:LongLeaseholdAssetsns5:LandBuildings2024-04-3008505605ns5:PlantMachinery2024-04-3008505605ns5:FurnitureFittings2024-04-3008505605ns5:MotorVehicles2024-04-3008505605ns5:LongLeaseholdAssetsns5:LandBuildings2023-04-3008505605ns5:PlantMachinery2023-04-3008505605ns5:FurnitureFittings2023-04-3008505605ns5:MotorVehicles2023-04-3008505605ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3008505605ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-3008505605ns10:OrdinaryShareClass12024-04-30

REGISTERED NUMBER: 08505605 (England and Wales)
















Financial Statements for the Year Ended 30 April 2024

for


The Electric Tobacconist Ltd


The Electric Tobacconist Ltd (Registered number: 08505605)







Contents of the Financial Statements

for the Year Ended 30 April 2024






Page



Company Information  

1



Balance Sheet  

2



Notes to the Financial Statements  

3


to


5



The Electric Tobacconist Ltd


Company Information

for the Year Ended 30 April 2024









DIRECTORS:

Mr P P Culverhouse


Ms H L Culverhouse







REGISTERED OFFICE:

Units 1 & 2


Mark House


Mark Road


Hemel Hempstead


Hertfordshire


HP2 7UA







REGISTERED NUMBER:

08505605 (England and Wales)


The Electric Tobacconist Ltd (Registered number: 08505605)


Balance Sheet

30 April 2024



2024


2023


Notes

£   

£   


FIXED ASSETS

Intangible assets

4

53,752


56,203



Tangible assets

5

190,588


340,408



244,340


396,611




CURRENT ASSETS

Stocks

1,421,798


987,590



Debtors

6

426,934


565,825



Cash at bank

2,757,045


2,247,611



4,605,777


3,801,026



CREDITORS

Amounts falling due within one year

7

(2,080,261

)

(1,667,759

)


NET CURRENT ASSETS

2,525,516


2,133,267



TOTAL ASSETS LESS CURRENT

LIABILITIES

2,769,856


2,529,878




PROVISIONS FOR LIABILITIES

(29,770

)

(47,397

)


NET ASSETS

2,740,086


2,482,481




CAPITAL AND RESERVES

Called up share capital

8

70


70



Retained earnings

2,740,016


2,482,411



SHAREHOLDERS' FUNDS

2,740,086


2,482,481




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 Statement of Income and Retained Earnings has not been delivered.  


The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:






Mr P P Culverhouse - Director



The Electric Tobacconist Ltd (Registered number: 08505605)


Notes to the Financial Statements

for the Year Ended 30 April 2024


1.

STATUTORY INFORMATION



The Electric Tobacconist 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.


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.    



Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.


Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.


Computer software is being amortised evenly over its estimated useful life of five years.



Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.  


Land and buildings

-  

33% on cost and 10% on cost


Plant and machinery etc

-  

33% on cost and 10% on 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 Statement of Income and Retained Earnings, 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.


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 44 (2023 - 44 ) .


The Electric Tobacconist Ltd (Registered number: 08505605)


Notes to the Financial Statements - continued

for the Year Ended 30 April 2024


4.

INTANGIBLE FIXED ASSETS


Other


intangible


assets

£   



COST


At 1 May 2023

64,850




Additions

11,155




At 30 April 2024

76,005




AMORTISATION


At 1 May 2023

8,647




Charge for year

13,606




At 30 April 2024

22,253




NET BOOK VALUE


At 30 April 2024

53,752




At 30 April 2023

56,203




5.

TANGIBLE FIXED ASSETS


Fixtures



Long


Plant and


and


Motor



leasehold


machinery


fittings


vehicles


Totals

£   

£   

£   

£   

£   



COST


At 1 May 2023

244,897


39,207


185,050


169,929


639,083




Additions

-


15,578


2,035


-


17,613




At 30 April 2024

244,897


54,785


187,085


169,929


656,696




DEPRECIATION


At 1 May 2023

94,077


29,840


165,740


9,018


298,675




Charge for year

79,312


3,381


11,362


73,378


167,433




At 30 April 2024

173,389


33,221


177,102


82,396


466,108




NET BOOK VALUE


At 30 April 2024

71,508


21,564


9,983


87,533


190,588




At 30 April 2023

150,820


9,367


19,310


160,911


340,408




6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024

2023


£   

£   



Trade debtors

17,840


34,550




Other debtors

409,094


531,275



426,934


565,825




7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024

2023


£   

£   



Trade creditors

976,208


828,415




Taxation and social security

945,566


647,700




Other creditors

158,487


191,644



2,080,261


1,667,759




The Electric Tobacconist Ltd (Registered number: 08505605)


Notes to the Financial Statements - continued

for the Year Ended 30 April 2024


8.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

2024

2023



value:

£   

£   



70

Ordinary

£1

70


70




9.

DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006



The Report of the Auditors was qualified.



Darren Kerins FCCA (Senior Statutory Auditor)


for and on behalf of Ad Valorem Audit Services Limited



We were not appointed as auditors of the company until after 30 April 2023 and thus did not observe the counting of physical inventories at that date. We have been unable to satisfy ourselves by alternative means or by using other audit procedures as to the opening inventory quantities held at 30 April 2023. The inventories were included in the Balance Sheet at 30 April 2023 at £987,590. Consequently, we have been unable to determine whether any adjustment to this amount was necessary.


10.

OTHER FINANCIAL COMMITMENTS


The total amount of financial commitments at 30 April 2024 was £1,533,151 (2023 - £1,733,151).

This relates to a property lease which expires in December 2031

11.

RELATED PARTY DISCLOSURES



During the year the company received £47,577 (2023: £200,212) from Electric Tobacconist US for management charges.



The management charge is income for The Electric Tobacconist UK to provide the service of all platform management and marketing for Electric Tobacconist US. In return, all management of the website is done by staff of The Electric Tobacconist  UK. This then increased to also managing the CS portal.



P Culverhouse owns 51% shares in The Electric Tobacconist US