Company Registration No. 14529722 (England and Wales)
ELECTRO ENGINEERING LTD
Unaudited accounts
for the year ended 31 December 2024
ELECTRO ENGINEERING LTD
Statement of financial position
as at 31 December 2024
Tangible assets
16,475
12,849
Cash at bank and in hand
2,604
57,673
Creditors: amounts falling due within one year
(400,133)
(324,133)
Net current assets
174,862
48,166
Called up share capital
2
2
Profit and loss account
191,335
61,013
Shareholders' funds
191,337
61,015
For the year ending 31 December 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 director acknowledges his 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 and authorised for issue on 12 May 2025 and were signed on its behalf by
Callum Johnson
Director
Company Registration No. 14529722
ELECTRO ENGINEERING LTD
Notes to the Accounts
for the year ended 31 December 2024
ELECTRO ENGINEERING LTD is a private company, limited by shares, registered in England and Wales, registration number 14529722. The registered office is Nene Business Centre, Waterside House, Station Road, Irthlingborough, Northamptonshire, NN9 5QF, 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
Tangible fixed 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:
Plant & machinery
25% reducing balance
Computer equipment
Straight line over 4 years
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.
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.
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.
ELECTRO ENGINEERING LTD
Notes to the Accounts
for the year ended 31 December 2024
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.
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2024
14,174
557
14,731
Additions
3,697
4,528
8,225
At 31 December 2024
17,871
5,085
22,956
At 1 January 2024
1,856
26
1,882
Charge for the year
3,883
716
4,599
At 31 December 2024
5,739
742
6,481
At 31 December 2024
12,132
4,343
16,475
At 31 December 2023
12,318
531
12,849
Amounts falling due within one year
Trade debtors
482,686
233,459
Amounts due from group undertakings etc.
11,138
-
Accrued income and prepayments
6,934
3,992
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
288,480
112,451
Taxes and social security
102,392
170,753
Loans from directors
3,317
-
Allotted, called up and fully paid:
1 Ordinary A shares of £1 each
1
1
1 Ordinary B shares of £1 each
1
1
ELECTRO ENGINEERING LTD
Notes to the Accounts
for the year ended 31 December 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors loan
35,873
49,298
88,488
(3,317)
35,873
49,298
88,488
(3,317)
During the year, the company advanced £49,298 to the director (£35,873 2023). This advance has no fixed repayment terms and interest has been charged on this loan at the standard rate. This loan was repaid in full during the year..
9
Average number of employees
During the year the average number of employees was 4 (2023: 1).