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Registration number: 14666054

Electric Motor Sales and Service Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 28 February 2025

 

Electric Motor Sales and Service Limited

Director's Report for the Year Ended 28 February 2025

The director presents his report and the abridged financial statements for the year ended 28 February 2025.

Director of the company

The director who held office during the year was as follows:

Mr Roger Durham

Principal activity

The principal activity of the company is Repairs of other equipment

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 9 April 2025
 

.........................................
Mr Roger Durham
Director

 

Electric Motor Sales and Service Limited

(Registration number: 14666054)
Abridged Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

14,035

7,571

Current assets

 

Stocks

6

3,000

-

Debtors

7

27,538

33,475

Cash at bank and in hand

 

5,396

12,274

 

35,934

45,749

Creditors: Amounts falling due within one year

(29,819)

(36,937)

Net current assets

 

6,115

8,812

Total assets less current liabilities

 

20,150

16,383

Provisions for liabilities

(1,438)

(1,438)

Net assets

 

18,712

14,945

Capital and reserves

 

Called up share capital

8

102

102

Retained earnings

18,610

14,843

Shareholders' funds

 

18,712

14,945

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 9 April 2025
 

 

Electric Motor Sales and Service Limited

(Registration number: 14666054)
Abridged Balance Sheet as at 28 February 2025

.........................................
Mr Roger Durham
Director

 

Electric Motor Sales and Service Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2025

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit A
Sandars Road
Heapham Road Industrial Estate
Gainsborough
Lincolnshire
DN21 1RZ

These financial statements were authorised for issue by the director on 9 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Electric Motor Sales and Service Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2025

The current income tax charge is calculated on the basis of 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 is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Plant and machinery

25% reducing balance

Office equipment

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Electric Motor Sales and Service Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2024 - 4).

4

Profit before tax

Arrived at after charging/(crediting)

 

Electric Motor Sales and Service Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2025

2025
£

2024
£

Depreciation expense

5,491

2,565

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2024

8,057

2,079

10,136

Additions

12,213

-

12,213

At 28 February 2025

20,270

2,079

22,349

Depreciation

At 1 March 2024

2,302

520

2,822

Charge for the year

4,972

520

5,492

At 28 February 2025

7,274

1,040

8,314

Carrying amount

At 28 February 2025

12,996

1,039

14,035

At 29 February 2024

6,012

1,559

7,571

6

Stocks

2025
£

2024
£

Other inventories

3,000

-

7

Debtors

Debtors includes £Nil (2024 - £Nil) due after more than one year.

8

Share capital

Allotted, called up and fully paid shares

 

2025

2024

 

No.

£

No.

£

Ordinary shares of £1 each

102

102

102

102

         
 

Electric Motor Sales and Service Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2025

9

Dividends

   

2025

 

2024

   

£

 

£

Interim dividend of £Nil (2024 - £19.60) per ordinary share

 

-

 

2,000