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REGISTERED NUMBER: 01976186 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

ECONOTECH LIMITED

ECONOTECH LIMITED (REGISTERED NUMBER: 01976186)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ECONOTECH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: R. D. Twentyman
A. G. Thomas
E M Wilkinson





REGISTERED OFFICE: First Floor
Ridgeland House
15 Carfax
Horsham
West Sussex
RH12 1DY





REGISTERED NUMBER: 01976186 (England and Wales)





ACCOUNTANTS: Galloways Accounting
First Floor
Ridgeland House
15 Carfax
Horsham
West Sussex
RH12 1DY

ECONOTECH LIMITED (REGISTERED NUMBER: 01976186)

BALANCE SHEET
31 MARCH 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 20,486 31,532

CURRENT ASSETS
Stocks 4 506,900 264,970
Debtors 5 902,843 789,958
Cash at bank 58 54
1,409,801 1,054,982
CREDITORS
Amounts falling due within one year 6 993,510 1,020,092
NET CURRENT ASSETS 416,291 34,890
TOTAL ASSETS LESS CURRENT
LIABILITIES

436,777

66,422

CREDITORS
Amounts falling due after more than one
year

7

(400,000

)

-

PROVISIONS FOR LIABILITIES (31,489 ) (33,118 )
NET ASSETS 5,288 33,304

CAPITAL AND RESERVES
Called up share capital 6,000 6,000
Retained earnings (712 ) 27,304
SHAREHOLDERS' FUNDS 5,288 33,304

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

ECONOTECH LIMITED (REGISTERED NUMBER: 01976186)

BALANCE SHEET - continued
31 MARCH 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 August 2022 and were signed on its behalf by:





E M Wilkinson - Director


ECONOTECH LIMITED (REGISTERED NUMBER: 01976186)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on cost
Computer equipment - 33% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2021 - 20 ) .

ECONOTECH LIMITED (REGISTERED NUMBER: 01976186)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

3. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2021 2,930 197,700 36,208 236,838
Additions - 12,490 4,924 17,414
At 31 March 2022 2,930 210,190 41,132 254,252
DEPRECIATION
At 1 April 2021 2,748 176,459 26,099 205,306
Charge for year 45 23,404 5,011 28,460
At 31 March 2022 2,793 199,863 31,110 233,766
NET BOOK VALUE
At 31 March 2022 137 10,327 10,022 20,486
At 31 March 2021 182 21,241 10,109 31,532

4. STOCKS
31.3.22 31.3.21
£    £   
Raw materials 20,000 20,000
Work-in-progress 486,900 244,970
506,900 264,970

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 594,931 596,969
Retention 242,906 169,463
Directors' current accounts 39,553 -
Deferred tax asset
Accelerated capital allowances 94 -
Prepayments 25,359 23,526
902,843 789,958

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans and overdrafts 391,721 345,858
Trade creditors 467,256 489,101
Tax - 33,287
Social security and other taxes 33,493 32,367
VAT 70,380 40,930
Other creditors 14,007 55,651
Directors' current accounts - 3,703
Accrued expenses 16,653 19,195
993,510 1,020,092

ECONOTECH LIMITED (REGISTERED NUMBER: 01976186)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.22 31.3.21
£    £   
Bank loans - 1-2 years 100,000 -
Bank loans - 2-5 years 300,000 -
400,000 -

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2022 and 31 March 2021:

31.3.22 31.3.21
£    £   
R. D. Twentyman
Balance outstanding at start of year - -
Amounts advanced 36,297 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 36,297 -

E M Wilkinson
Balance outstanding at start of year - -
Amounts advanced 3,256 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,256 -

9. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.