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Registration number: 02850364

E.C.S. Dataconnect Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

E.C.S. Dataconnect Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Financial Statements

4 to 8

 

E.C.S. Dataconnect Limited

Company Information

Director

P G Kitcherside

Registered office

Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

Accountants

Harmer Slater Limited
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

 

E.C.S. Dataconnect Limited

(Registration number: 02850364)
Statement of Financial Position as at 31 March 2023

Note

2023
£

2022
£

Non current assets

 

Property, Plant and Equipment

4

9,026

14,442

Current assets

 

Receivables

5

19,299

4,290

Cash at bank and in hand

6

48,338

71,786

 

67,637

76,076

Payables: Amounts falling due within one year

7

(45,580)

(35,481)

Net current assets

 

22,057

40,595

Total assets less current liabilities

 

31,083

55,037

Payables: Amounts falling due after more than one year

7

-

(4,774)

Provisions for liabilities

(832)

(2,744)

Net assets

 

30,251

47,519

Equity

 

Called up share capital

8

10,100

10,100

Retained earnings

8

20,151

37,419

Total equity

 

30,251

47,519

 

E.C.S. Dataconnect Limited

(Registration number: 02850364)
Statement of Financial Position as at 31 March 2023 (continued)

For the financial year ending 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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

The financial statements of E.C.S. Dataconnect Limited were approved and authorised for issue by the director on 6 November 2023
 

.........................................

P G Kitcherside
Director

 

E.C.S. Dataconnect Limited

Notes to the Financial Statements
for the Year Ended 31 March 2023

1

General information

E.C.S. Dataconnect Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2

Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus she continues to adopt the going concern basis in preparing the annual financial statements.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Judgements and key sources of estimation uncertainties

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Revenue is shown net of value added tax. Revenue from the provision of services is recognised when the services have been provided. Revenue is recognised when the amount of revenue can be reliably measured and it is probably the future economic benefits will flow to the company.

Government grants

Government grants of a revenue nature are credited to the income statement so as to match them with the expenditure to which they relate and are included in other operating income.

 

E.C.S. Dataconnect Limited

Notes to the Financial Statements
for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Taxation

The tax expense for the period comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Property, Plant and Equipment

Property, Plant and Equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% on cost

Office equipment

33.33% on cost

Plant and machinery

15% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Receivables

Receivables are amounts due from customers for goods sold or services performed in the ordinary course of business.

Receivables are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

 

E.C.S. Dataconnect Limited

Notes to the Financial Statements
for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Payables

Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Statement of Financial Position as a finance lease obligation.

Lease payments are apportioned between finance costs in the Income Statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 3).

 

E.C.S. Dataconnect Limited

Notes to the Financial Statements
for the Year Ended 31 March 2023 (continued)

4

Property, Plant and Equipment

Motor vehicles
 £

Cost

At 1 April 2022

21,664

At 31 March 2023

21,664

Depreciation

At 1 April 2022

7,222

Charge for the year

5,416

At 31 March 2023

12,638

Carrying amount

At 31 March 2023

9,026

At 31 March 2022

14,442

5

Receivables

2023
£

2022
£

Trade receivables

18,416

3,785

Other receivables

883

505

19,299

4,290

6

Cash and cash equivalents

2023
 £

2022
 £

Cash at bank

27,626

21,074

Short-term deposits

20,712

50,712

48,338

71,786

 

E.C.S. Dataconnect Limited

Notes to the Financial Statements
for the Year Ended 31 March 2023 (continued)

7

Payables

2023
£

2022
£

Due within one year

Hire purchase obligation

-

3,819

Trade payables

23,721

2,218

Corporation tax

-

8,806

Social security and other taxes

2,947

24

Other payables

8,668

8,699

Accrued expenses

10,244

11,915

45,580

35,481

Due after one year

Hire purchase liability

-

4,774

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

10,000

10,000

10,000

10,000

Ordinary B shares of £1 each

100

100

100

100

 

10,100

10,100

10,100

10,100

The company has ordinary and ordinary B shares which have equal rights in all respects.

Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.