Elex Electrical Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08036374 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2021

for

Elex Electrical Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J Bryant

REGISTERED OFFICE:

200 South Liberty Lane

Bristol

BS3 2TY

REGISTERED NUMBER:

08036374 (England and Wales)

ACCOUNTANTS:

Matrix Accounting and Taxation

Solutions

Redwood House

Bristol Road

Keynsham

Bristol

BS31 2WB

FIXED ASSETS

Tangible assets

4

88,156

80,962

CURRENT ASSETS

Stocks

80,000

76,200

Debtors

5

249,070

70,713

Cash at bank

134,547

123,876

463,617

270,789

CREDITORS

Amounts falling due within one year

6

330,346

248,079

NET CURRENT ASSETS

133,271

22,710

TOTAL ASSETS LESS CURRENT LIABILITIES

221,427

103,672

CREDITORS

Amounts falling due after more than one year

7

64,723

43,950

NET ASSETS

156,704

59,722

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

156,703

59,721

SHAREHOLDERS' FUNDS

156,704

59,722

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 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.

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 18 January 2022 and were signed by:

J Bryant - Director

1.	STATUTORY INFORMATION

Elex Electrical 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.

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.

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 12 (2020 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2020

162,255

Additions

29,234

At 31 May 2021

191,489

DEPRECIATION

At 1 June 2020

81,293

Charge for year

22,040

At 31 May 2021

103,333

NET BOOK VALUE

At 31 May 2021

88,156

At 31 May 2020

80,962

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Trade debtors

243,178

64,649

Other debtors

5,892

6,064

249,070

70,713

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.21

31.5.20

£

£

Trade creditors

199,272

143,438

Taxation and social security

106,870

86,494

Other creditors

24,204

18,147

330,346

248,079

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.21

31.5.20

£

£

Other creditors

64,723

43,950

8.	ULTIMATE CONTROLLING PARTY

The controlling party is J Bryant.

The director is the ultimate controlling party due to his 100% shareholding.