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Company Registration No. 07267670 (England and Wales)
Eright Limited Unaudited Financial Statements for the year ended 31 May 2024
Eright Limited Unaudited Financial Statements Contents
Page
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Eright Limited Company Information for the year ended 31 May 2024
Directors
A J Meade S Wright G E Morris
Company Number
07267670 (England and Wales)
Registered Office
Eright Centre Carlton Forest, Red Lane Worksop Nottinghamshire S81 8BP United Kingdom
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Eright Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
39,978 
45,781 
Current assets
Inventories
8,285 
6,956 
Debtors
137,156 
217,814 
Cash at bank and in hand
60,741 
15,129 
206,182 
239,899 
Creditors: amounts falling due within one year
(124,997)
(139,775)
Net current assets
81,185 
100,124 
Total assets less current liabilities
121,163 
145,905 
Creditors: amounts falling due after more than one year
(12,458)
(19,208)
Provisions for liabilities
Deferred tax
(9,715)
(9,032)
Net assets
98,990 
117,665 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
98,890 
117,565 
Shareholders' funds
98,990 
117,665 
For the year ending 31 May 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 February 2025 and were signed on its behalf by
A J Meade Director Company Registration No. 07267670
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Eright Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Eright Limited is a private company, limited by shares, registered in England and Wales, registration number 07267670. The registered office is Eright Centre, Carlton Forest, Red Lane, Worksop, Nottinghamshire, S81 8BP, United Kingdom.
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
These financial statements have been prepared under the historical cost convention in accordance with the Financial Reporting Standard 102 Section 1A Small Entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Presentation currency
The accounts are presented in £ sterling.
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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly to equity. The current income tax charged is calculated on the basis of the 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
Deferred tax shall be recognised in respect of all timing differences at the reporting date, except as otherwise required by FRS102. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that 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 income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. Unrelieved tax losses and other deferred tax assets shall be 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.
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Eright Limited Notes to the Accounts for the year ended 31 May 2024
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Tangible assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Straight Line
Fixtures & fittings
20% Straight Line
Computer equipment
33% Straight Line
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.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Eright Limited Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 June 2023
2,107 
49,595 
7,537 
21,519 
80,758 
Additions
1,227 
- 
2,894 
6,487 
10,608 
At 31 May 2024
3,334 
49,595 
10,431 
28,006 
91,366 
Depreciation
At 1 June 2023
220 
19,887 
4,265 
10,605 
34,977 
Charge for the year
584 
7,750 
1,390 
6,687 
16,411 
At 31 May 2024
804 
27,637 
5,655 
17,292 
51,388 
Net book value
At 31 May 2024
2,530 
21,958 
4,776 
10,714 
39,978 
At 31 May 2023
1,887 
29,708 
3,272 
10,914 
45,781 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
21,958 
29,708 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
135,334 
215,711 
Other debtors
1,822 
2,103 
137,156 
217,814 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
36,505 
53,108 
Taxes and social security
64,495 
37,037 
Other creditors
23,997 
49,630 
124,997 
139,775 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
12,458 
19,208 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
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Eright Limited Notes to the Accounts for the year ended 31 May 2024
9
Average number of employees
During the year the average number of employees was 6 (2023: 5).
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