Electrocare (Northallerton) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07621373 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

FOR

ELECTROCARE (NORTHALLERTON) LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr D Grimston

REGISTERED OFFICE:

142a High Street

Northallerton

North Yorkshire

DL7 8PE

REGISTERED NUMBER:

07621373 (England and Wales)

ACCOUNTANTS:

Lyons & Co Ltd

23 Yarm Road

Stockton on Tees

TS18 3NJ

FIXED ASSETS

Intangible assets

4

4,500

5,000

Tangible assets

5

11,479

5,168

15,979

10,168

CURRENT ASSETS

Stocks

54,350

55,648

Debtors

3,252

34,583

Cash at bank and in hand

23,296

35,739

80,898

125,970

CREDITORS

Amounts falling due within one year

45,173

77,652

NET CURRENT ASSETS

35,725

48,318

TOTAL ASSETS LESS CURRENT LIABILITIES

51,704

58,486

CREDITORS

Amounts falling due after more than one year

35,583

43,056

NET ASSETS

16,121

15,430

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

15,121

14,430

16,121

15,430

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 November 2022 and were signed by:

Mr D Grimston - Director

1.	STATUTORY INFORMATION

Electrocare (Northallerton) Ltd 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks 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 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.

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 3 (2021 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2021

and 31 May 2022

10,000

AMORTISATION

At 1 June 2021

5,000

Amortisation for year

500

At 31 May 2022

5,500

NET BOOK VALUE

At 31 May 2022

4,500

At 31 May 2021

5,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2021

14,403

Additions

9,792

At 31 May 2022

24,195

DEPRECIATION

At 1 June 2021

9,235

Charge for year

3,481

At 31 May 2022

12,716

NET BOOK VALUE

At 31 May 2022

11,479

At 31 May 2021

5,168

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

There was an overdrawn loan during the year. It had a maximum balance of £28,415 and interest was charged at a rate of 2.5% per annum. The loan was fully repaid during the year.