Electrical Safety Group Ltd,Ltd - AccountsLtd - Accounts

Electrical Safety Group Ltd,Ltd - AccountsLtd - Accounts

ELECTRICAL SAFETY GROUP LIMITED - Company Information

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2016-01-01 03801775 2016-12-31 03801775 2016-01-01 2016-12-31 03801775 2015-12-31 03801775 2015-01-01 2015-12-31 03801775 uk-core:WithinOneYear 2015-12-31 03801775 uk-core:WithinOneYear 2016-12-31 03801775 uk-core:ShareCapital 2016-12-31 03801775 uk-core:ShareCapital 2015-12-31 03801775 uk-core:RetainedEarningsAccumulatedLosses 2016-12-31 03801775 uk-core:RetainedEarningsAccumulatedLosses 2015-12-31 03801775 uk-bus:Director1 2016-01-01 2016-12-31 03801775 uk-core:Buildings 2016-01-01 2016-12-31 03801775 uk-core:PlantMachinery 2016-01-01 2016-12-31 03801775 uk-core:MotorCars 2016-01-01 2016-12-31 03801775 uk-core:MotorCars 2015-12-31 03801775 uk-core:PlantMachinery 2015-12-31 03801775 uk-core:Buildings 2015-12-31 03801775 uk-core:Buildings 2016-12-31 03801775 uk-core:PlantMachinery 2016-12-31 03801775 uk-core:MotorCars 2016-12-31 iso4217:GBP 03801775 uk-bus:AuditExemptWithAccountantsReport 2016-01-01 2016-12-31 03801775 uk-bus:FRS102 2016-01-01 2016-12-31 03801775 uk-bus:FullAccounts 2016-01-01 2016-12-31 03801775 uk-bus:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31
Electrical Safety Group Ltd
Registered Number:03801775
For the year ended 31 December 2016
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2016
Electrical Safety Group Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
As at 31 December 2016
Electrical Safety Group Ltd
Statement of Financial Position
Registered Number :
03801775
£
£
2015
2016
Notes
Fixed assets
Property, plant and equipment
13,441
20,654
2
13,441
20,654
Current assets
Inventories
98,840
101,140
Trade and other receivables
96,258
114,321
3
Financial assets
4
4
4
2,426
Cash and cash equivalents
3,723
219,188
197,528
Trade and other payables: amounts falling due within one
year
(117,391)
(142,324)
5
80,137
76,864
Net current assets
Total assets less current liabilities
90,305
100,791
90,305
Net assets
100,791
Capital and reserves
Called up share capital
100,000
100,000
Retained earnings
(9,695)
791
90,305
100,791
Shareholders' funds
For the year ended 31 December 2016 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006
The director acknowledges her responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
Mrs Sylvia Holyoake Director
These financial statements were approved and authorised for issue by the Board on 26 September 2017 and were signed by:
The notes form part of these financial statements
1 of 3
4
For the year ended 31 December 2016
Electrical Safety Group Ltd
Notes to the Financial Statements
Statutory Information
Electrical Safety Group Ltd is a private limited company, limited by shares, domiciled in England and Wales,
registration number 03801775.
Registered address:
First Floor
The Old Mill
Hoveton
Norfolk
NR12 8DA
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006.
The financial statements have been prepared under the historical costs convention as modified by the revaluation of
certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Improvement to property
20% Reducing balance
Plant and machinery
20% Reducing balance
25% Reducing balance
Motor vehicles
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
2 of 3
5
For the year ended 31 December 2016
Electrical Safety Group Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Motor vehicles
Plant and
machinery
Improvement
to property
£
£
£
£
Cost or
valuation
At 01 January 2016
186,264
3,900
131,629
50,735
-
-
(50,735)
Disposals
(50,735)
At 31 December 2016
-
131,629
3,900
135,529
Provision for depreciation and impairment
At 01 January 2016
165,610
3,332
115,361
46,917
Charge for year
3,395
142
3,253
-
(46,917)
-
-
(46,917)
On disposal
At 31 December 2016
122,088
3,474
118,614
-
At 31 December 2016
Net book value
-
13,015
426
13,441
At 31 December 2015
3,818
16,268
568
20,654
3. Trade and other receivables
2015
2016
£
£
Trade debtors
12,047
7,006
Other debtors
102,274
89,252
96,258
114,321
4. Financial instruments at fair value
2015
2016
£
£
Shares in group undertakings
4
4
5. Trade and other payables: amounts falling due within one year
2015
2016
£
£
Trade creditors
52,412
41,739
Taxation and social security
64,289
45,841
Other creditors
25,623
29,811
142,324
117,391
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