ELECTEC (NI) LIMITED

ELECTEC (NI) LIMITED

ELECTEC (NI) LIMITED - Company Information

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ELECTEC (NI) LIMITED

Company Registration Number:
NI070583 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 March 2022

Period of accounts

Start date: 01 April 2021

End date: 31 March 2022

ELECTEC (NI) LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2022

Balance sheet
Notes

ELECTEC (NI) LIMITED

Balance sheet

As at 31 March 2022


Notes
2022
2021


£
£
Fixed assets
Tangible assets: 3 135,308 125,582
Total fixed assets: 135,308 125,582
Current assets
Stocks: 2,891 1,863
Debtors:   127,025 114,588
Cash at bank and in hand: 146,635 173,969
Total current assets: 276,551 290,420
Creditors: amounts falling due within one year:   (39,603) (32,541)
Net current assets (liabilities): 236,948 257,879
Total assets less current liabilities: 372,256 383,461
Creditors: amounts falling due after more than one year:   (43,335) (70,826)
Total net assets (liabilities): 328,921 312,635
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 328,920 312,634
Shareholders funds: 328,921 312,635

The notes form part of these financial statements

ELECTEC (NI) LIMITED

Balance sheet statements

For the year ending 31 March 2022 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 03 August 2022
and signed on behalf of the board by:

Name: Paul Walsh
Status: Director

The notes form part of these financial statements

ELECTEC (NI) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible fixed assets and depreciation policy

Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:Land & Buildings 0% Straight linePlant & Machinery 20% Straight lineFixtures & Fittings 20% Straight lineMotor Vehicles 20% Straight lineThe carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable

Valuation and information policy

Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling

ELECTEC (NI) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2022

2. Employees

2022 2021
Average number of employees during the period 4 4

ELECTEC (NI) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2022

3. Tangible Assets

Total
Cost £
At 01 April 2021 151,214
Additions 18,335
Disposals (2,336)
At 31 March 2022 167,213
Depreciation
At 01 April 2021 25,632
Charge for year 8,609
On disposals (2,336)
At 31 March 2022 31,905
Net book value
At 31 March 2022 135,308
At 31 March 2021 125,582