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REGISTERED NUMBER: 01963289 (England and Wales)









Financial Statements

for the Year Ended 31 December 2024

for

Elcomponent Limited
Elcomponent Limited (Registered number: 01963289)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Elcomponent Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: C W Gysin
J E Gysin
G R Aislabie
T J Hooper





SECRETARY: C W Gysin





REGISTERED OFFICE: Unit 5 Southmill Trading Centre
Southmill Road
Bishops Stortford
Hertfordshire
CM23 3DY





REGISTERED NUMBER: 01963289 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
Suite 301, Stanmore Business
and Innovation Centre
Howard Road
Stanmore
Middlesex
HA7 1FW
1
Elcomponent Limited (Registered number: 01963289)

Statement of Financial Position
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 12,057 30,570
12,057 30,570

CURRENT ASSETS
Inventories 122,251 124,874
Debtors 6 339,179 520,643
Cash at bank 858,061 792,207
1,319,491 1,437,724
CREDITORS
Amounts falling due within one year 7 673,629 838,525
NET CURRENT ASSETS 645,862 599,199
TOTAL ASSETS LESS CURRENT
LIABILITIES
657,919
629,769

PROVISIONS FOR LIABILITIES 3,014 7,642
NET ASSETS 654,905 622,127

CAPITAL AND RESERVES
Called up share capital 42,000 42,000
Retained earnings 612,905 580,127
SHAREHOLDERS' FUNDS 654,905 622,127

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 15 September 2025 and were signed on its behalf by:





G R Aislabie - Director


The notes form part of these financial statements

2
Elcomponent Limited (Registered number: 01963289)

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

1. STATUTORY INFORMATION

Elcomponent Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents the value of goods sold and services provided, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 15% on cost
Fixtures and fittings - 15% - 33% on cost
Motor vehicles - 33.33% on cost

Inventories
Inventories 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development
Expenditure on research and development is charged to the profit and loss account as incurred unless it is attributable to a major new product. In this case the expenditure is capitalised and charged to the profit and loss account broadly in line with the period over which income is expected to be derived from the new product.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the accounting date. Transactions in foreign currencies are recorded at the date of the transactions. All differences are taken to the Profit and Loss account.

3 continued...
Elcomponent Limited (Registered number: 01963289)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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.

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

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.

Intangible fixed assets
These comprise development costs of computer software to be licenced to third party users. The development costs were to be amortised in equal instalments over 3 years.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 January 2024
and 31 December 2024 27,569
AMORTISATION
At 1 January 2024
and 31 December 2024 27,569
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2024 43,440 88,032 108,226 239,698
Additions - 1,050 - 1,050
At 31 December 2024 43,440 89,082 108,226 240,748
DEPRECIATION
At 1 January 2024 43,440 79,543 86,145 209,128
Charge for year - 2,483 17,080 19,563
At 31 December 2024 43,440 82,026 103,225 228,691
NET BOOK VALUE
At 31 December 2024 - 7,056 5,001 12,057
At 31 December 2023 - 8,489 22,081 30,570

4 continued...
Elcomponent Limited (Registered number: 01963289)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 328,465 511,013
Prepayments and accrued income 10,714 9,630
339,179 520,643

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 53,480 37,723
Tax 42,085 26,858
Social security and other taxes 66,353 104,010
VAT 85,392 130,591
Other creditors 2,691 2,424
Directors' current accounts 68,713 70,240
Accruals and deferred income 354,915 466,679
673,629 838,525

8. LEASING AGREEMENTS
At 31 December 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £38,658 (2023: £54,258).

5