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REGISTERED NUMBER: SC299024 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Electrajet Limited

Electrajet Limited (Registered number: SC299024)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Electrajet Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: N Harrison
M Franks





SECRETARY: W R Cowan





REGISTERED OFFICE: 2C Mid Road
Blairlinn Industrial Estate
Cumbernauld
G67 2TT





REGISTERED NUMBER: SC299024 (Scotland)





ACCOUNTANTS: WR Accountants
Bank Chambers
31 The Square
Cumnock
Ayrshire
KA18 1AT

Electrajet Limited (Registered number: SC299024)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 709 2,217
Tangible assets 5 358,006 308,240
358,715 310,457

CURRENT ASSETS
Stocks 86,000 81,000
Debtors 6 851,656 689,813
Cash at bank 114,682 30,762
1,052,338 801,575
CREDITORS
Amounts falling due within one year 7 837,416 700,948
NET CURRENT ASSETS 214,922 100,627
TOTAL ASSETS LESS CURRENT
LIABILITIES

573,637

411,084

CREDITORS
Amounts falling due after more than one
year

8

(213,985

)

(142,113

)

PROVISIONS FOR LIABILITIES (68,331 ) (22,333 )
NET ASSETS 291,321 246,638

CAPITAL AND RESERVES
Called up share capital 10,506 10,506
Retained earnings 280,815 236,132
SHAREHOLDERS' FUNDS 291,321 246,638

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Electrajet Limited (Registered number: SC299024)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 February 2025 and were signed on its behalf by:




M Franks - Director



N Harrison - Director


Electrajet Limited (Registered number: SC299024)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Electrajet Limited is a private company, limited by shares , registered in Scotland. 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.

Development costs are being amortised evenly over their estimated useful life of nil years.

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

Plant & Machinery20% Straight Line
Fixture & Fittings10% Straight line
Motor Vehicles 25% straight line
Computer Equipment33.33% straight line

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 Income Statement, 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.

Electrajet Limited (Registered number: SC299024)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 4,525
AMORTISATION
At 1 April 2023 2,308
Charge for year 1,508
At 31 March 2024 3,816
NET BOOK VALUE
At 31 March 2024 709
At 31 March 2023 2,217

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 907,014
Additions 169,703
Disposals (79,092 )
At 31 March 2024 997,625
DEPRECIATION
At 1 April 2023 598,774
Charge for year 79,678
Eliminated on disposal (38,833 )
At 31 March 2024 639,619
NET BOOK VALUE
At 31 March 2024 358,006
At 31 March 2023 308,240

Electrajet Limited (Registered number: SC299024)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 213,272 99,561
Other debtors 638,384 590,252
851,656 689,813

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 174,901 172,544
Taxation and social security 136,910 113,765
Other creditors 525,605 414,639
837,416 700,948

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 213,985 142,113

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

LOANS FROM DIRECTORS

Loans from the directors are interest free and repayable on demand.