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Unaudited Financial Statements for the Year Ended 31 March 2023

for

ETS (SW) Limited

ETS (SW) Limited (Registered number: 04111403)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ETS (SW) Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: M J Cole
N Cole





SECRETARY: Ms S Cole





REGISTERED OFFICE: Brook House
Fox Den Road
Stoke Gifford
Bristol
BS34 8SP





REGISTERED NUMBER: 04111403 (England and Wales)





ACCOUNTANTS: Moore
Chartered Accountants
6th Floor
Whitefriars
Lewins Mead
Bristol
BS1 2NT

ETS (SW) Limited (Registered number: 04111403)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 733,827 785,996
Investments 5 194,167 202,668
927,994 988,664

CURRENT ASSETS
Stocks 217,262 202,362
Debtors 6 1,330,005 1,234,021
Cash at bank and in hand 718,148 734,101
2,265,415 2,170,484
CREDITORS
Amounts falling due within one year 7 1,211,236 1,155,826
NET CURRENT ASSETS 1,054,179 1,014,658
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,982,173

2,003,322

CREDITORS
Amounts falling due after more than
one year

8

(154,379

)

(388,020

)

PROVISIONS FOR LIABILITIES (87,068 ) (73,652 )
NET ASSETS 1,740,726 1,541,650

ETS (SW) Limited (Registered number: 04111403)

Balance Sheet - continued
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,740,626 1,541,550
1,740,726 1,541,650

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

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 7 November 2023 and were signed on its behalf by:





M J Cole - Director


ETS (SW) Limited (Registered number: 04111403)

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

1. STATUTORY INFORMATION

ETS (SW) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


ETS (SW) Limited (Registered number: 04111403)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2022 - 35 ) .

ETS (SW) Limited (Registered number: 04111403)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 April 2022 510,454 292,873 37,828
Additions - - -
Disposals - - -
At 31 March 2023 510,454 292,873 37,828
DEPRECIATION
At 1 April 2022 112,098 235,330 32,801
Charge for year 51,048 14,386 1,256
Eliminated on disposal - - -
At 31 March 2023 163,146 249,716 34,057
NET BOOK VALUE
At 31 March 2023 347,308 43,157 3,771
At 31 March 2022 398,356 57,543 5,027

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 852,967 9,459 1,703,581
Additions 128,683 3,599 132,282
Disposals (38,454 ) - (38,454 )
At 31 March 2023 943,196 13,058 1,797,409
DEPRECIATION
At 1 April 2022 531,661 5,695 917,585
Charge for year 111,356 1,841 179,887
Eliminated on disposal (33,890 ) - (33,890 )
At 31 March 2023 609,127 7,536 1,063,582
NET BOOK VALUE
At 31 March 2023 334,069 5,522 733,827
At 31 March 2022 321,306 3,764 785,996

ETS (SW) Limited (Registered number: 04111403)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 597,191
Transfer to ownership (58,999 )
At 31 March 2023 538,192
DEPRECIATION
At 1 April 2022 315,049
Charge for year 67,034
Transfer to ownership (44,998 )
At 31 March 2023 337,085
NET BOOK VALUE
At 31 March 2023 201,107
At 31 March 2022 282,142

5. FIXED ASSET INVESTMENTS
Other
investment
£   
COST
At 1 April 2022
and 31 March 2023 200,000
PROVISIONS
At 1 April 2022 (2,668 )
Provision for year 8,501
At 31 March 2023 5,833
NET BOOK VALUE
At 31 March 2023 194,167
At 31 March 2022 202,668

ETS (SW) Limited (Registered number: 04111403)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 1,173,159 1,024,348
Other debtors 156,846 209,673
1,330,005 1,234,021

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 125,000 125,000
Trade creditors 537,868 724,591
Taxation and social security 111,736 49,869
Other creditors 436,632 256,366
1,211,236 1,155,826

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 66,667 191,667
Hire purchase contracts 87,712 196,353
154,379 388,020

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 191,667 316,667
Hire purchase contracts 87,712 196,353
279,379 513,020

10. OTHER FINANCIAL COMMITMENTS

The company has entered into annual commitments under non-cancellable operating leases between one and five years totalling £96,000 ( 2022 £96,000 )