Year Ended
Registration number:
Elect Holdings Limited
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Financial Statements |
Elect Holdings Limited
Company Information
Directors |
Mr M P Harding Mr A J R Farebrother |
Company secretary |
Mr M P Harding |
Registered office |
|
Accountants |
|
Page 1 |
Elect Holdings Limited
Balance Sheet
31 January 2017
Note |
2017 |
2016 |
|
Fixed assets |
|||
Investments |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
|
|
|
Total equity |
|
|
Page 2 |
Elect Holdings Limited
Balance Sheet
31 January 2017
For the financial year ending 31 January 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
.........................................
Mr M P Harding
Director
.........................................
Mr A J R Farebrother
Director
Company Registration Number: 06470405
Page 3 |
Elect Holdings Limited
Notes to the Financial Statements
Year Ended 31 January 2017
General information |
The company is a private company limited by share capital incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
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 Section 1A and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Change in basis of accounting
The company's financial statements have been prepared in accordance with FRS102 - the Financial Reporting Standard applicable in the UK and Republic of Ireland. The company has transferred from previously extant UK GAAP to FRS102 as at 1 February 2015. There are no material departures from FRS102.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax and trade discounts.
The company recognises revenue when the value of services provided to date can be reliably measured.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Page 4 |
Elect Holdings Limited
Notes to the Financial Statements
Year Ended 31 January 2017
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 5 |
Elect Holdings Limited
Notes to the Financial Statements
Year Ended 31 January 2017
Investments |
2017 |
2016 |
|
Investments in subsidiaries |
|
|
Subsidiaries |
£ |
Cost or valuation |
|
At 1 February 2016 |
|
Provision |
|
Carrying amount |
|
At 31 January 2017 |
|
At 31 January 2016 |
|
Debtors |
Note |
2017 |
2016 |
|
Amounts due from group undertakings |
|
|
|
Other debtors |
|
|
|
|
|
Creditors |
Note |
2017 |
2016 |
|
Due within one year |
|||
Trade creditors |
|
- |
|
Amounts due to group undertakings |
|
|
|
Social security and other taxes |
|
|
|
Other creditors |
|
- |
|
Accrued expenses |
|
|
|
Corporation tax |
59,011 |
35,100 |
|
|
|
Page 6 |
Elect Holdings Limited
Notes to the Financial Statements
Year Ended 31 January 2017
Share capital |
Allotted, called up and fully paid shares
2017 |
2016 |
|||
No. |
£ |
No. |
£ |
|
|
|
200 |
|
200 |
Related party transactions |
Advances to directors |
2017 |
At 1 February 2016 |
Advances to director |
Repayments by director |
At 31 January 2017 |
Mr M P Harding |
||||
During the year, a loan existed between the director and the company. Interest has been charged at HMRC's official rate. |
89,088 |
|
( |
|
Mr A J R Farebrother |
||||
During the year, a loan existed between the director and the company. Interest has been charged at HMRC's official rate. |
112,110 |
|
( |
|
2016 |
At 1 February 2015 |
Advances to director |
Repayments by director |
At 31 January 2016 |
Mr M P Harding |
||||
During the year, a loan existed between the director and the company. Interest has been charged at HMRC's official rate. |
- |
|
( |
|
Mr A J R Farebrother |
||||
During the year, a loan existed between the director and the company. Interest has been charged at HMRC's official rate. |
- |
|
( |
|
Transition to FRS 102 |
There were no changes to the previously stated equity as at 1 February 2015 and 31 January 2016 or in the profit for the year ended 31 January 2016 as a result of the transition to FRS102.
Page 7 |