Backer Electric Company Limited - Limited company - abbreviated

REGISTERED NUMBER: 00432388 (England and Wales)

BACKER ELECTRIC COMPANY LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

I E Jones

M A Patten

P Daffin

P Leng

SECRETARY:

Mrs S G Patten

REGISTERED OFFICE:

Eastwood Trading Estate

Fitzwilliam Road

Rotherham

South

Yorkshire

S65 1TF

REGISTERED NUMBER:

00432388 (England and Wales)

ACCOUNTANTS:

Fox Evans Ltd

Abbey House

Manor Road

Coventry

West Midlands

CV1 2FW

BANKERS:

HSBC

11 High Street

Warwick

CV34 4AS

FIXED ASSETS

Tangible assets

2

729,495

736,166

Investments

3

81,296

810,791

817,462

CURRENT ASSETS

Stocks

487,327

377,539

Debtors

4

4,260,599

4,183,299

Cash at bank and in hand

4,203

3,870

4,752,129

4,564,708

CREDITORS

Amounts falling due within one year

5

1,481,601

1,523,944

NET CURRENT ASSETS

3,270,528

3,040,764

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,081,319

3,858,226

CREDITORS

Amounts falling due after more than one
year

5

9,840

18,336

NET ASSETS

4,071,479

3,839,890

CAPITAL AND RESERVES

Called up share capital

6

605,284

Share premium

4,875

Revaluation reserve

381,585

393,032

Profit and loss account

3,079,735

2,836,699

SHAREHOLDERS' FUNDS

4,071,479

3,839,890

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 11 September 2014 and were signed on
its behalf by:

I E Jones - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The following accounting policies have been applied consistently in dealing with items which are

considered material in relation to the company's financial statements.

Accounting convention

The financial statements have been prepared in accordance with applicable Accounting Standards and

are under the historic cost accounting rules, subject to modifications to include the revaluation of

certain land and buildings.

Preparation of consolidated financial statements

The financial statements contain information about Backer Electric Company Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company

has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated

financial statements.

Turnover

Turnover represents sales of goods net of VAT. Turnover is recognised when the goods are physically

delivered to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Plant and machinery

-

20% on cost and 10% on cost

Motor vehicles

-

25% on cost

Stocks

Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out

basis. Net realisable value represents estimated selling price less costs to complete and sell.

Provision is made for slow moving, obsolete and damaged stock where net realisable value is less

than cost.

Deferred tax

Provision is made at appropriate rates for taxation deferred in respect of all material timing differences

where an asset or liability will crystallise in the foreseeable future.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account in the period in which

they are incurred. Assets held under finance leases are capitalised and depreciated over their

expected useful life. The finance charges are allocated over the primary period of the lease in

proportion to the capital element outstanding.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 January 2013

3,333,427

Additions

30,192

Disposals

(5,000

)

At 31 December 2013

3,358,619

DEPRECIATION

At 1 January 2013

2,597,261

Charge for year

36,863

Eliminated on disposal

(5,000

)

At 31 December 2013

2,629,124

NET BOOK VALUE

At 31 December 2013

729,495

At 31 December 2012

736,166

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2013

and 31 December 2013

59,373

NET BOOK VALUE

At 31 December 2013

59,373

At 31 December 2012

59,373

Investments (neither listed nor unlisted) were as follows:

31.12.13

31.12.12

£

Other investments

21,923

The company's investments at the balance sheet date in the share capital of companies include the

following:

Company name: Backer Inversiones SA

Country of incorporation: Spain

Nature of business: Property development

Proportion of shares held: 100% of issued ordinary shares

Aggregate capital & reserves at 31st December 2013: (€557,454) (2012: (€1,767,794)).

Profit for the year ended 31st December 2013: €86,487 (2012 loss of €321,887).

Company name: Wireohms (Universal) Limited

Nature of business: Dormant

Proportion of shares held: 100% of issued ordinary shares

Aggregate capital & reserves at 31st December 2013: £nil (2012: £nil).

Company name: Backer Distribution Limited

Nature of business: Dormant

Proportion of shares held: 100% of issued ordinary shares

Aggregate capital & reserves at 31st December 2013: £2 (2012: £2).

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 3,777,973 (31.12.12 - £

3,524,534 )

5.

CREDITORS

Creditors include an amount of £ 377,269 (31.12.12 - £ 402,673 ) for which security has been given.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.13

31.12.12

value:

£

550,258

Deferred Ordinary

£1

55,026

550,258

Ordinary

10p

550,258

605,284

The deferred ordinary shares carry the right to fifty percent of any dividend in excess of £100,000,000

distributed in any financial year. They carry no voting rights. On winding up, the deferred shareholders

are entitled to fifty percent of any available distribution in excess of £500,000,000.

7.	ULTIMATE PARENT COMPANY

Temple Trust Limited (incorporated in British Virgin Islands ) is regarded by the directors as being the

company's ultimate parent company.

The immediate parent company is Laxsound Limited, a company incorporated in the United Kingdom.