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Company Registration No. 10722995 (England and Wales)
ELECTRIC 88 LTD Unaudited accounts for the year ended 31 March 2025
ELECTRIC 88 LTD Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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ELECTRIC 88 LTD Company Information for the year ended 31 March 2025
Directors
Harry Hobbs Daniel Stephen Brookes
Company Number
10722995 (England and Wales)
Registered Office
45 Manor Farm Road Horspath Oxford Oxfordshire OX33 1SD England
Accountants
J JENKIN & ASSOCIATES LIMITED POST OFFICE VAULTS 4 MARKET PLACE WANTAGE OXFORDSHIRE OX12 8AT
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ELECTRIC 88 LTD Statement of financial position as at 31 March 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
19,068
11,414
Current assets
Debtors
5
16,519
18,415
Cash at bank and in hand
25,185
22,817
41,704
41,232
Creditors: amounts falling due within one year
6
(21,646)
(22,345)
Net current assets
20,058
18,887
Total assets less current liabilities
39,126
30,301
Creditors: amounts falling due after more than one year
7
-
(4,001)
Net assets
39,126
26,300
Capital and reserves
Called up share capital
2
2
Profit and loss account
39,124
26,298
Shareholders' funds
39,126
26,300
For the year ending 31 March 2025 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 17 September 2025 and were signed on its behalf by
Daniel Stephen Brookes Director Company Registration No. 10722995
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ELECTRIC 88 LTD Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
ELECTRIC 88 LTD is a private company, limited by shares, registered in England and Wales, registration number 10722995. The registered office is 45 Manor Farm Road, Horspath, Oxford, Oxfordshire, OX33 1SD, 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.
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
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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.
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:
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
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.
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ELECTRIC 88 LTD Notes to the Accounts for the year ended 31 March 2025
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 April 2024
25,525
3,615
29,140
Additions
10,998
241
11,239
At 31 March 2025
36,523
3,856
40,379
Depreciation
At 1 April 2024
15,576
2,150
17,726
Charge for the year
3,175
410
3,585
At 31 March 2025
18,751
2,560
21,311
Net book value
At 31 March 2025
17,772
1,296
19,068
At 31 March 2024
9,949
1,465
11,414
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
16,519
18,415
6
Creditors: amounts falling due within one year
2025
2024
£
£
VAT
(3,153)
(3,203)
Obligations under finance leases and hire purchase contracts
2,991
3,386
Trade creditors
4,885
6,235
Taxes and social security
(5,631)
4,243
Loans from directors
22,554
11,684
21,646
22,345
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Obligations under finance leases and hire purchase contracts
-
4,001
8
Average number of employees
During the year the average number of employees was 2 (2024: 2).
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