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Registered Number: 08372459
England and Wales

 

 

 

ESSENTIAL AUTOMATION LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 26,190    29,183 
26,190    29,183 
Current assets      
Stocks 100,000    17,875 
Debtors 81,715    117,822 
Cash at bank and in hand 343,454    253,727 
525,169    389,424 
Creditors: amount falling due within one year (195,885)   (125,266)
Net current assets 329,284    264,158 
 
Total assets less current liabilities 355,474    293,341 
Net assets 355,474    293,341 
 

Capital and reserves
     
Called up share capital 10    10 
Profit and loss account 355,464    293,331 
Shareholder's funds 355,474    293,341 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 27 October 2023 and were signed by:


-------------------------------
Paul Miller Miller
Director
1
General Information
Essential Automation Ltd is a private company, limited by shares, registered in England and Wales, registration number 08372459, registration address Unit 8, 251 Holt Rd, Horsford, Norwich, England, NR10 3EB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 15% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 4 (2022 : 3).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 April 2022 5,259    27,770    15,993    49,022 
Additions 391      3,330    3,721 
Disposals      
At 31 March 2023 5,650    27,770    19,323    52,743 
Depreciation
At 01 April 2022 2,080    9,981    7,778    19,839 
Charge for year 535    4,447    1,732    6,714 
On disposals      
At 31 March 2023 2,615    14,428    9,510    26,553 
Net book values
Closing balance as at 31 March 2023 3,035    13,342    9,813    26,190 
Opening balance as at 01 April 2022 3,179    17,789    8,215    29,183 


2