Elect Holdings Limited 06470405 false 2017-02-01 2018-01-31 2018-01-31 The principal activity of the company is that of a holding company. Digita Accounts Production Advanced 6.21.8540.0 Software true false 06470405 2017-02-01 2018-01-31 06470405 2018-01-31 06470405 bus:CompanySecretary1 1 2018-01-31 06470405 bus:Director3 1 2018-01-31 06470405 bus:OrdinaryShareClass1 2018-01-31 06470405 core:RetainedEarningsAccumulatedLosses 2018-01-31 06470405 core:ShareCapital 2018-01-31 06470405 core:CurrentFinancialInstruments 2018-01-31 06470405 core:CurrentFinancialInstruments core:WithinOneYear 2018-01-31 06470405 bus:SmallEntities 2017-02-01 2018-01-31 06470405 bus:AuditExemptWithAccountantsReport 2017-02-01 2018-01-31 06470405 bus:FullAccounts 2017-02-01 2018-01-31 06470405 bus:RegisteredOffice 2017-02-01 2018-01-31 06470405 bus:CompanySecretary1 2017-02-01 2018-01-31 06470405 bus:CompanySecretary1 1 2017-02-01 2018-01-31 06470405 bus:Director2 2017-02-01 2018-01-31 06470405 bus:Director3 2017-02-01 2018-01-31 06470405 bus:Director3 1 2017-02-01 2018-01-31 06470405 bus:OrdinaryShareClass1 2017-02-01 2018-01-31 06470405 bus:PrivateLimitedCompanyLtd 2017-02-01 2018-01-31 06470405 countries:England 2017-02-01 2018-01-31 06470405 core:CostValuation 2017-01-31 06470405 2016-02-01 2017-01-31 06470405 2017-01-31 06470405 bus:CompanySecretary1 1 2017-01-31 06470405 bus:Director3 1 2017-01-31 06470405 bus:OrdinaryShareClass1 2017-01-31 06470405 core:RetainedEarningsAccumulatedLosses 2017-01-31 06470405 core:ShareCapital 2017-01-31 06470405 core:CurrentFinancialInstruments 2017-01-31 06470405 core:CurrentFinancialInstruments core:WithinOneYear 2017-01-31 06470405 bus:CompanySecretary1 1 2016-02-01 2017-01-31 06470405 bus:Director3 1 2016-02-01 2017-01-31 iso4217:GBP xbrli:pure xbrli:shares

Elect Holdings Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 January 2018

Registration number: 06470405

 

Elect Holdings Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

Elect Holdings Limited

Company Information

Directors

Mr M P Harding

Mr A J R Farebrother

Company secretary

Mr M P Harding

Registered office

Jubilee Place
6 High Road
Ickenham
UB10 8LJ

Accountants

Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
Devon
TQ2 7FF

 

Elect Holdings Limited

Balance Sheet

31 January 2018

Note

2018
£

2017
£

Fixed assets

 

Investments

4

200

200

Current assets

 

Debtors

5

684,702

485,839

Cash at bank and in hand

 

12,011

315

 

696,713

486,154

Creditors: Amounts falling due within one year

6

(632,271)

(482,527)

Net current assets

 

64,442

3,627

Net assets

 

64,642

3,827

Capital and reserves

 

Called up share capital

200

200

Profit and loss account

64,442

3,627

Total equity

 

64,642

3,827

 

Elect Holdings Limited

Balance Sheet

31 January 2018

For the financial year ending 31 January 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 31 October 2018 and signed on its behalf by:
 

.........................................
Mr M P Harding
Director

.........................................
Mr A J R Farebrother
Director

 
     

Company Registration Number: 06470405

 

Elect Holdings Limited

Notes to the Financial Statements

Year Ended 31 January 2018

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Jubilee Place
6 High Road
Ickenham
UB10 8LJ

These financial statements were authorised for issue by the Board on 31 October 2018.

2

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. There are no material departures from FRS102.

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.

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.

 

Elect Holdings Limited

Notes to the Financial Statements

Year Ended 31 January 2018

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
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

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.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2017 - 2).

 

Elect Holdings Limited

Notes to the Financial Statements

Year Ended 31 January 2018

4

Investments

2018
£

2017
£

Investments in subsidiaries

200

200

Subsidiaries

£

Cost or valuation

At 1 February 2017

200

Provision

Carrying amount

At 31 January 2018

200

At 31 January 2017

200

5

Debtors

Note

2018
 £

2017
 £

Amounts due from group undertakings

8

488,812

444,614

Other debtors

 

195,890

41,225

 

684,702

485,839

6

Creditors

Creditors: amounts falling due within one year

2018
 £

2017
 £

Due within one year

Trade creditors

-

711

Amounts due to group undertakings

570,530

420,509

Corporation tax

59,452

59,011

Social security and other taxes

599

206

Other creditors

90

90

Accrued expenses

1,600

2,000

632,271

482,527

 

Elect Holdings Limited

Notes to the Financial Statements

Year Ended 31 January 2018

7

Share capital

Allotted, called up and fully paid shares

 

2018

2017

 

No.

£

No.

£

Ordinary of £ 1 each

200

200

200

200

         

8

Related party transactions

Advances to directors

2018

At 1 February 2017
£

Advances to director
£

Repayments by director
£

At 31 January 2018
£

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.

10,334

181,871

(95,000)

97,205

         
         

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.

14,257

179,428

(95,000)

98,685

         
         

 

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

161,246

(240,000)

10,334

         
         

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

142,147

(240,000)

14,257