REGISTERED NUMBER: 05720470 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Elac Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Dunster

A McPhee

T Cooke

REGISTERED OFFICE:

22 Milsom Street

Bath

Somerset

BA1 1DE

REGISTERED NUMBER:

05720470 (England and Wales)

FIXED ASSETS

Tangible assets

4

13,515

5,475

CURRENT ASSETS

Debtors

5

179,929

191,428

Cash at bank and in hand

439,105

635,988

619,034

827,416

CREDITORS

Amounts falling due within one year

6

405,233

419,665

NET CURRENT ASSETS

213,801

407,751

TOTAL ASSETS LESS CURRENT LIABILITIES

227,316

413,226

CREDITORS

Amounts falling due after more than one year

7

32,800

82,078

NET ASSETS

194,516

331,148

CAPITAL AND RESERVES

Called up share capital

8

125

125

Share premium

59,726

59,726

Retained earnings

134,665

271,297

SHAREHOLDERS' FUNDS

194,516

331,148

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2025 and were signed on its behalf by:

A McPhee - Director

1.	STATUTORY INFORMATION

Elac 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

10% on straight line basis

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 26 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

47,221

29,579

34,510

111,310

Additions

-

9,953

3,380

13,333

At 31 December 2024

47,221

39,532

37,890

124,643

DEPRECIATION

At 1 January 2024

47,221

28,115

30,499

105,835

Charge for year

-

2,854

2,439

5,293

At 31 December 2024

47,221

30,969

32,938

111,128

NET BOOK VALUE

At 31 December 2024

-

8,563

4,952

13,515

At 31 December 2023

-

1,464

4,011

5,475

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

131,748

143,644

Amounts owed by group undertakings

9,418

-

Other debtors

13,775

13,775

Tax

745

745

Prepayments and accrued income

24,243

33,264

179,929

191,428

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

49,200

49,200

Trade creditors

83,291

72,179

Tax

243,100

212,901

Social security and other taxes

-

5,155

Other creditors

23,092

24,385

Accruals and deferred income

6,550

55,845

405,233

419,665

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

32,800

49,200

Bank loans - 2-5 years

-

32,878

32,800

82,078

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

125

ORDINARY

1

125

125

9.	RELATED PARTY DISCLOSURES

Included in debtors is £9,418 (2023: £Nil ) owed by Elac Education Trust Limited, which is a company partly owned by Mr T Cooke and Mr A McPhee, who are directors of the company.