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REGISTERED NUMBER: 10620832 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

ESSEX EQUIP LIMITED

ESSEX EQUIP LIMITED (REGISTERED NUMBER: 10620832)

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


ESSEX EQUIP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: S L Bell
S K Gupta
B Balmer
K K Porter
D M Shedden
J F Warn





REGISTERED OFFICE: Whitelands Business Centre
Terling Road
Hatfield Peverel
Chelmsford
CM3 2AG





REGISTERED NUMBER: 10620832 (England and Wales)





ACCOUNTANTS: THP Limited
Chartered Accountants
Waterhouse Business Centre
Unit 53
2 Cromar Way
Chelmsford
Essex
CM1 2QE

ESSEX EQUIP LIMITED (REGISTERED NUMBER: 10620832)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 34,752 15,000
Tangible assets 5 15,213 10,527
49,965 25,527

CURRENT ASSETS
Stocks 1,794 3,587
Debtors 6 90,189 227,802
Cash at bank and in hand 1,528,628 1,342,086
1,620,611 1,573,475
CREDITORS
Amounts falling due within one year 7 579,655 598,686
NET CURRENT ASSETS 1,040,956 974,789
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,090,921

1,000,316

PROVISIONS FOR LIABILITIES 11,187 3,641
NET ASSETS 1,079,734 996,675

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 10 1,079,733 996,674
SHAREHOLDERS' FUNDS 1,079,734 996,675

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.

ESSEX EQUIP LIMITED (REGISTERED NUMBER: 10620832)

BALANCE SHEET - continued
31 MARCH 2023


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 29 August 2023 and were signed on its behalf by:




S L Bell - Director



B Balmer - Director


ESSEX EQUIP LIMITED (REGISTERED NUMBER: 10620832)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Essex Equip 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The financial statements are prepared on the going concern basis, which assumes the ability of the company to continue its activities for the foreseeable future, being a period of not less than twelve months from the approval of these accounts.

The directors, having considered all the information available, are confident that the company has adequate reserves and resources to continue its operational activities for the foreseeable future. Accordingly, the directors are satisfied that the going concern basis continues to be appropriate for the preparation of the annual financial statements.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for services supplied, net of returns, discounts and value added taxes.

Revenue is recognised in the accounting period in which the services were rendered.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer Software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for impairment of obsolete or slow moving items.

Stock is stated at the lower of cost and selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Stocks are recognised as an expense in the period in which the related revenue is recognised.

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.

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.


ESSEX EQUIP LIMITED (REGISTERED NUMBER: 10620832)

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.

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.

Leasing commitments
Rentals paid under operating leases are charged to the profit and loss account as incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Computer
Software
£   
COST
At 1 April 2022 47,450
Additions 30,940
At 31 March 2023 78,390
AMORTISATION
At 1 April 2022 32,450
Amortisation for year 11,188
At 31 March 2023 43,638
NET BOOK VALUE
At 31 March 2023 34,752
At 31 March 2022 15,000

ESSEX EQUIP LIMITED (REGISTERED NUMBER: 10620832)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 April 2022 19,176 28,212 47,388
Additions 7,425 1,962 9,387
Disposals - (3,631 ) (3,631 )
At 31 March 2023 26,601 26,543 53,144
DEPRECIATION
At 1 April 2022 11,876 24,985 36,861
Charge for year 2,945 1,744 4,689
Eliminated on disposal - (3,619 ) (3,619 )
At 31 March 2023 14,821 23,110 37,931
NET BOOK VALUE
At 31 March 2023 11,780 3,433 15,213
At 31 March 2022 7,300 3,227 10,527

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 74,625 219,671
Accrued income 2,515 251
Prepayments 13,049 7,880
90,189 227,802

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 41,580 44,481
Amounts owed to group undertakings 17,049 17,049
Corporation tax 15,014 35,723
Social security and other taxes 5,918 3,974
VAT 39,817 62,886
Other creditors 1,376 1,893
Accruals and deferred income 458,901 432,680
579,655 598,686

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 29,500 29,500

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

ESSEX EQUIP LIMITED (REGISTERED NUMBER: 10620832)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


9. CALLED UP SHARE CAPITAL - continued

Distribution on a winding up
The company's surplus assets (after settlement of all the company's liabilities) available for distribution to the shareholders on a return of capital on a winding up or otherwise shall be distributed amongst the holders of the shares.

Dividends
The company shall not declare or pay any dividends, it is intended for all distributable profit to be re-invested in the company.

10. RESERVES
Retained
earnings
£   

At 1 April 2022 996,674
Profit for the year 83,059
At 31 March 2023 1,079,733

The above reserves include £826,128 arising from the transfer and hosting of the EQUIP (Education and Quality In Practice) service.

It was agreed that the assets of the main business be transferred from the EQUIP to Essex Equip Limited as a going concern as at the 1st August 2017.

11. RELATED PARTY DISCLOSURES

Supporting Health (Essex) limited
During the period Supporting Health (Essex) Limited, a company which owns all the shares of this company, loaned £17,049 (2022: £17,049) to Essex Equip Limited on an interest free basis the loan is repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Supporting Health (Essex) Limited, a company Limited by guarantee whose registered office is the same as the company's registered office.