Electro-detectors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01664115 (England and Wales)

Financial Statements

For The Year Ended 31 December 2020

for

Electro-detectors Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

A J Rogers

D J Rogers

Mrs J A Rogers

REGISTERED OFFICE:

Electro House

Edinburgh Way

Harlow

Essex

CM20 2EG

REGISTERED NUMBER:

01664115 (England and Wales)

AUDITORS:

Giess Wallis Crisp LLP

Chartered Accountants

& Registered Auditors

10/12 Mulberry Green

Old Harlow

Essex

CM17 0ET

BANKERS:

Barclays Bank PLC

Bishops Stortford

Hertfordshire

FIXED ASSETS

Tangible assets

5

1,328,391

1,414,400

CURRENT ASSETS

Stocks

6

656,284

657,519

Debtors

7

1,532,206

1,145,323

Cash at bank

1,673,768

2,621,675

3,862,258

4,424,517

CREDITORS

Amounts falling due within one year

8

1,094,557

588,559

NET CURRENT ASSETS

2,767,701

3,835,958

TOTAL ASSETS LESS CURRENT LIABILITIES

4,096,092

5,250,358

PROVISIONS FOR LIABILITIES

9

21,247

24,010

NET ASSETS

4,074,845

5,226,348

CAPITAL AND RESERVES

Called up share capital

10

16,000

16,000

Retained earnings

4,058,845

5,210,348

SHAREHOLDERS' FUNDS

4,074,845

5,226,348

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2021 and were signed on its behalf by:

A J Rogers - Director

1.	STATUTORY INFORMATION

Electro-detectors 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared as a single entity.

The principal accounting policies adopted are set out below.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

Going concern

At the time that the financial statements were approved, the directors had a reasonable expectation that the company had adequate resources to continue in operational existence for the foreseeable future. Therefore, the directors have continued to adopt the going concern basis of accounting in preparing the financial statements.

The directors have considered a period of twelve months following the date of approval of the financial statements, when considering the appropriateness of the adoption of the going concern basis of preparation.

Turnover

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

Turnover from the sale of goods is recognised once the significant risks & rewards of ownership of the goods has passed to the buyer (usually on the dispatch of goods), the amount of turnover can be reliably measured and it is probable that the economic benefits associated with the transaction will flow to the entity.

Tangible fixed assets

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

Improvements to property

-

5% on cost

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Recognition and impairment of tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses.

The entity reviews the carrying value's of its tangible fixed assets at each reporting date, to determine wether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the estimated recoverable value of the asset is used to determine the extent of the impairment loss (if any).

Government grants

Grants relating to revenue shall be recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2019 - 31 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 January 2020

1,484,458

433,559

69,288

1,987,305

Additions

9,090

5,966

-

15,056

Disposals

-

-

(25,500

)

(25,500

)

At 31 December 2020

1,493,548

439,525

43,788

1,976,861

DEPRECIATION

At 1 January 2020

145,437

393,843

33,625

572,905

Charge for year

74,678

11,420

8,916

95,014

Eliminated on disposal

-

-

(19,449

)

(19,449

)

At 31 December 2020

220,115

405,263

23,092

648,470

NET BOOK VALUE

At 31 December 2020

1,273,433

34,262

20,696

1,328,391

At 31 December 2019

1,339,021

39,716

35,663

1,414,400

6.

STOCKS

2020

2019

£

£

Stocks

656,284

657,519

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

1,465,631

1,144,323

Other debtors

66,575

1,000

1,532,206

1,145,323

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

244,944

106,058

Taxation and social security

670,018

359,421

Other creditors

179,595

123,080

1,094,557

588,559

9.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

21,247

24,010

Deferred

tax

£

Balance at 1 January 2020

24,010

Provided during year

(2,763

)

Balance at 31 December 2020

21,247

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

16,000

Ordinary

£1

16,000

16,000

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Wallis FCA (Senior Statutory Auditor)

for and on behalf of Giess Wallis Crisp LLP

12.	ULTIMATE PARENT COMPANY

The ultimate parent undertaking and the controlling undertaking of the group for which consolidated accounts are drawn up is Arthenella Limited, A company registered at Electro-House, Edinburgh Way, Harlow, Essex, CM20 2EG, of which, Electro-Detectors is a wholly owned subsidiary.