Registration number: 01872619

Elphis Engineering Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

Elphis Engineering Limited

(Registration number: 01872619)
Balance Sheet as at 28 February 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	202,044	232,405
Current assets
Stocks	5	51,550	42,537
Debtors	6	1,025,625	1,138,661
Cash at bank and in hand		194,049	99,551
		1,271,224	1,280,749
Creditors: Amounts falling due within one year	7	(273,091)	(254,832)
Net current assets		998,133	1,025,917
Total assets less current liabilities		1,200,177	1,258,322
Creditors: Amounts falling due after more than one year	7	(4,921)	(14,995)
Provisions for liabilities		(25,678)	(32,022)
Net assets		1,169,578	1,211,305
Capital and reserves
Called up share capital	8	6,000	6,000
Share premium reserve		2,250	2,250
Capital redemption reserve		15,000	15,000
Retained earnings		1,146,328	1,188,055
Shareholders' funds		1,169,578	1,211,305

Elphis Engineering Limited

(Registration number: 01872619)
Balance Sheet as at 28 February 2025

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.

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.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 November 2025 and signed on its behalf by:
 

AJ Rendell Director

Elphis Engineering Limited

Notes to the Unaudited 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 and Wales.

The address of its registered office is:
St Andrews Park
Princes Road
Wells
Somerset
BA5 1TE

These financial statements were authorised for issue by the Board on 19 November 2025.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These 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.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

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.

Going concern

After reviewing the accounts, the directors are confident that the company will be able to pay its debts as they fall due and accordingly has prepared the financial statements 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 current and deferred 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.

Elphis Engineering Limited

Notes to the Unaudited 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
Freehold land and buildings	2% straight line
Office equipment	20% reducing balance
Plant and machinery	20% reducing balance
Motor vehicles	25% reducing balance

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 stocks 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.

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.

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.

Elphis Engineering Limited

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

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Elphis Engineering Limited

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

3	Staff numbers

The average number of persons employed by the company (including directors) during the year was 7 (2024 - 7).

4	Tangible assets

	Freehold land and buildings £	Office equipment £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 March 2024	45,002	41,037	555,003	96,574	737,616
Additions	-	58	13,934	-	13,992
At 28 February 2025	45,002	41,095	568,937	96,574	751,608
Depreciation
At 1 March 2024	1,321	21,432	444,063	38,395	505,211
Charge for the year	900	3,933	24,975	14,545	44,353
At 28 February 2025	2,221	25,365	469,038	52,940	549,564
Carrying amount
At 28 February 2025	42,781	15,730	99,899	43,634	202,044
At 29 February 2024	43,681	19,605	110,940	58,179	232,405

5

Stocks

	2025 £	2024 £
Work in progress	16,521	8,952
Other inventories	35,029	33,585
	51,550	42,537

Elphis Engineering Limited

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

6

Debtors

	Note	2025 £	2024 £
Trade debtors		222,427	341,184
Amounts owed by related parties	11	785,578	783,613
Other debtors		1	-
Prepayments		17,619	13,864
		1,025,625	1,138,661

7

Creditors

Due within one year	Note	2025 £	2024 £
Loans and borrowings	9	10,648	10,648
Trade creditors		51,428	51,983
Social security and other taxes		179,231	147,079
Other creditors		3,911	3,870
Accruals		27,873	41,252
		273,091	254,832
Due after one year
Loans and borrowings	9	4,921	14,995