Company Registration No. 06224507 (England and Wales)
Electrack Limited
Unaudited accounts
for the year ended 30 April 2018
Electrack Limited
Unaudited accounts
Contents
Electrack Limited
Company Information
for the year ended 30 April 2018
Company Number
06224507 (England and Wales)
Registered Office
48 WESTCROFT GARDENS
MORDEN
SURREY
SM4 4DL
ENGLAND
Accountants
Leapman Weiss
Building 6 30 Friern Park
London
N12 9DA
Electrack Limited
Statement of financial position
as at 30 April 2018
Cash at bank and in hand
1,481
26,973
Creditors: amounts falling due within one year
(10,559)
(17,395)
Net current assets
377
9,578
Called up share capital
1
1
Profit and loss account
377
9,578
Shareholders' funds
378
9,579
For the year ending 30 April 2018 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 10 January 2019.
Ivan Iliev
Director
Company Registration No. 06224507
Electrack Limited
Notes to the Accounts
for the year ended 30 April 2018
Electrack Limited is a private company, limited by shares, registered in England and Wales, registration number 06224507. The registered office is 48 WESTCROFT GARDENS, MORDEN, SURREY, SM4 4DL, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight line
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Electrack Limited
Notes to the Accounts
for the year ended 30 April 2018
4
Tangible fixed assets
Fixtures & fittings
6
Creditors: amounts falling due within one year
2018
2017
Taxes and social security
9,167
15,586
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loans to director
(53)
8,828
-
8,775
8
Average number of employees
During the year the average number of employees was 1 (2017: 1).
