Company Registration No. 04437229 (England and Wales)
ERGOSTAR LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
ERGOSTAR LTD
COMPANY INFORMATION
Director
Mr S Young
Secretary
Mrs M Young
Company number
04437229
Registered office
16-20 Williams Way
Wollaston Industrial Estate
Wollaston
Wellingborough
Northamptonshire
NN29 7RQ
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank Plc
130 New Street
Birmingham
West Midlands
B2 4JU
ERGOSTAR LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
ERGOSTAR LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ERGOSTAR LTD FOR THE YEAR ENDED 31 DECEMBER 2021
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ergostar Ltd for the year ended 31 December 2021 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Ergostar Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ergostar Ltd and state those matters that we have agreed to state to the Board of Directors of Ergostar Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ergostar Ltd and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Ergostar Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ergostar Ltd. You consider that Ergostar Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ergostar Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
17 June 2022
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
ERGOSTAR LTD
BALANCE SHEET
AS AT
31 DECEMBER 2021
31 December 2021
- 2 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
8,532
235,817
Current assets
Stocks
28,937
8,761
Debtors
4
158,956
94,484
Cash at bank and in hand
136,052
26,812
323,945
130,057
Creditors: amounts falling due within one year
5
(115,845)
(126,414)
Net current assets
208,100
3,643
Total assets less current liabilities
216,632
239,460
Creditors: amounts falling due after more than one year
6
(35,143)
(161,917)
Provisions for liabilities
7
(1,467)
-
0
Net assets
180,022
77,543
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
179,922
77,443
Total equity
180,022
77,543

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

ERGOSTAR LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2021
31 December 2021
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 17 June 2022.
Mr S Young
Director
Company Registration No. 04437229
ERGOSTAR LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 4 -
1
Accounting policies
Company information

Ergostar Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 16-20 Williams Way, Wollaston Industrial Estate, Wollaston, Wellingborough, Northamptonshire, NN29 7RQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property
Nil
Plant and equipment
15% on reducing balance
Fixtures and fittings
15% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

No depreciation is provided on freehold property. This treatment may be a departure from the requirements of Companies Act 2006 concerning depreciation of fixed assets, however, the company follows a program of regular refurbishment and maintenance of its properties, which includes the reinstatement of the fabric of the buildings where necessary in order to maintain them to a high standard. Accordingly, in the opinion of the director, any element of depreciation would be immaterial and no provision has been made, as the residual value would be in excess of cost.

ERGOSTAR LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 5 -
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

ERGOSTAR LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 6 -
1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (2020 - 1).

3
Tangible fixed assets
Freehold property
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 January 2021
228,059
15,714
5,010
248,783
Disposals
(228,059)
-
0
-
0
(228,059)
At 31 December 2021
-
0
15,714
5,010
20,724
Depreciation and impairment
At 1 January 2021
2,280
6,305
4,381
12,966
Depreciation charged in the year
-
0
1,411
95
1,506
Eliminated in respect of disposals
(2,280)
-
0
-
0
(2,280)
At 31 December 2021
-
0
7,716
4,476
12,192
Carrying amount
At 31 December 2021
-
0
7,998
534
8,532
At 31 December 2020
225,779
9,409
629
235,817
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
158,956
91,901
Deferred tax asset
-
0
2,583
158,956
94,484
ERGOSTAR LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 7 -
5
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
13,665
31,425
Trade creditors
85,896
85,600
Taxation and social security
8,040
888
Other creditors
8,244
8,501
115,845
126,414
6
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
35,143
161,917
7
Provisions for liabilities
2021
2020
£
£
Deferred tax liabilities
1,467
-
0
8
Secured debts
The following secured debts are included within creditors:
2021
2020
£
£
Bank loans
48,808
193,342
Bank loans are secured by way of a fixed and floating charge over all assets of the company and by way of a government back guarantee.
9
Called up share capital
2021
2020
£
£
Ordinary share capital
Issued and fully paid
50 Ordinary of £1 each
50
50
50 Ordinary Capital of £1 each
50
50
100
100
ERGOSTAR LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 8 -
10
Ultimate controlling party

The ultimate controlling party is Mr S Young and Mrs M Young.

2021-12-312021-01-01false17 June 2022CCH SoftwareCCH Accounts Production 2022.100No description of principal activityMr S YoungMrs M Young044372292021-01-012021-12-3104437229bus:Director12021-01-012021-12-3104437229bus:CompanySecretary12021-01-012021-12-3104437229bus:RegisteredOffice2021-01-012021-12-3104437229bus:Agent12021-01-012021-12-31044372292021-12-31044372292020-12-3104437229core:LandBuildingscore:OwnedOrFreeholdAssets2021-12-3104437229core:PlantMachinery2021-12-3104437229core:FurnitureFittings2021-12-3104437229core:LandBuildingscore:OwnedOrFreeholdAssets2020-12-3104437229core:PlantMachinery2020-12-3104437229core:FurnitureFittings2020-12-3104437229core:CurrentFinancialInstrumentscore:WithinOneYear2021-12-3104437229core:CurrentFinancialInstrumentscore:WithinOneYear2020-12-3104437229core:CurrentFinancialInstruments2021-12-3104437229core:CurrentFinancialInstruments2020-12-3104437229core:Non-currentFinancialInstruments2021-12-3104437229core:Non-currentFinancialInstruments2020-12-3104437229core:ShareCapital2021-12-3104437229core:ShareCapital2020-12-3104437229core:RetainedEarningsAccumulatedLosses2021-12-3104437229core:RetainedEarningsAccumulatedLosses2020-12-3104437229core:ShareCapitalOrdinaryShares2021-12-3104437229core:ShareCapitalOrdinaryShares2020-12-3104437229core:LandBuildingscore:OwnedOrFreeholdAssets2021-01-012021-12-3104437229core:PlantMachinery2021-01-012021-12-3104437229core:FurnitureFittings2021-01-012021-12-3104437229core:LandBuildingscore:OwnedOrFreeholdAssets2020-12-3104437229core:PlantMachinery2020-12-3104437229core:FurnitureFittings2020-12-31044372292020-12-3104437229bus:OrdinaryShareClass12021-01-012021-12-3104437229bus:OrdinaryShareClass22021-01-012021-12-3104437229bus:OrdinaryShareClass12021-12-3104437229bus:OrdinaryShareClass22021-12-3104437229bus:PrivateLimitedCompanyLtd2021-01-012021-12-3104437229bus:SmallCompaniesRegimeForAccounts2021-01-012021-12-3104437229bus:FRS1022021-01-012021-12-3104437229bus:AuditExemptWithAccountantsReport2021-01-012021-12-3104437229bus:FullAccounts2021-01-012021-12-31xbrli:purexbrli:sharesiso4217:GBP