Company Registration No. 10878514 (England and Wales)
Industrial Engineering & Installation Services Limited
Unaudited accounts
for the year ended 31 July 2023
Industrial Engineering & Installation Services Limited
Unaudited accounts
Contents
Industrial Engineering & Installation Services Limited
Company Information
for the year ended 31 July 2023
Directors
Mr Andrew Ridge
Mr Stuart Samuel Ashby
Company Number
10878514 (England and Wales)
Registered Office
Riverside
Mountbatten Way
Congleton
Cheshire
CW12 1DY
Accountants
Paul Austen Associates Ltd
Riverside
Mountbatten Way
Congleton
Cheshire
CW12 1DY
Industrial Engineering & Installation Services Limited
Statement of financial position
as at 31 July 2023
Tangible assets
501,049
458,426
Debtors
1,771,109
1,230,735
Cash at bank and in hand
1,194,667
1,810,982
Creditors: amounts falling due within one year
(1,982,587)
(2,427,215)
Net current assets
991,441
622,754
Net assets
1,492,490
1,081,180
Called up share capital
104
104
Profit and loss account
1,492,386
1,081,076
Shareholders' funds
1,492,490
1,081,180
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2023 and were signed on its behalf by
Mr Andrew Ridge
Director
Company Registration No. 10878514
Industrial Engineering & Installation Services Limited
Notes to the Accounts
for the year ended 31 July 2023
Industrial Engineering & Installation Services Limited is a private company, limited by shares, registered in England and Wales, registration number 10878514. The registered office is Riverside, Mountbatten Way, Congleton, Cheshire, CW12 1DY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance Basis
Motor vehicles
25% Reducing Balance Basis
Fixtures & fittings
25% Reducing Balance Basis
Computer equipment
25% Reducing Balance Basis
The provision is an estimate for reworks where the company has a legal obligation to warrant reworks required for its contracts. Warranty periods can extend for three to five years but as the company and contracts are new no reliable data exists for the costs of expected reworks. Works also require a commission phase so at the date of signing the company is not yet at a phase where reworks are incurred but this may be imminent and so a reasonable estimate of the likely costs considered by the directors and discounted to a present value has been used. Provisions or contingent liabilities will be adjusted as more reliable data becomes available.
The company operates a defined contribution scheme for the benefit of its directors. Contributions payable are recognised in the profit and loss account when due.
Industrial Engineering & Installation Services Limited
Notes to the Accounts
for the year ended 31 July 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 August 2022
89,200
230,251
305,961
192,259
817,671
Additions
-
62,349
55,166
17,414
134,929
At 31 July 2023
89,200
292,600
361,127
209,673
952,600
At 1 August 2022
-
107,156
169,280
82,809
359,245
Charge for the year
-
30,773
34,171
27,362
92,306
At 31 July 2023
-
137,929
203,451
110,171
451,551
At 31 July 2023
89,200
154,671
157,676
99,502
501,049
At 31 July 2022
89,200
123,095
136,681
109,450
458,426
Amounts falling due within one year
Trade debtors
1,332,872
811,279
Amounts due from group undertakings etc.
389,185
375,211
Other debtors
49,052
44,245
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
1,288,331
1,402,080
Amounts owed to group undertakings and other participating interests
200,000
96,000
Taxes and social security
47,634
26,996
Other creditors
109,722
100,557
Loans from directors
1,215
1,216
Allotted, called up and fully paid:
50 Ordinary 1 GBP £1.00 of £1 each
50
50
5 Ordinary A 1 GBP £1.00 of £1 each
5
5
45 Ordinary B 1 GBP £1.00 of £1 each
45
45
2 Ordinary C 1 GBP £1.00 of £1 each
2
2
2 Ordinary D 1 GBP £1.00 of £1 each
2
2
Industrial Engineering & Installation Services Limited
Notes to the Accounts
for the year ended 31 July 2023
8
Average number of employees
During the year the average number of employees was 29 (2022: 8).