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REGISTERED NUMBER: 11178066 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2023

for

eComposite Products Limited

eComposite Products Limited (Registered number: 11178066)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

eComposite Products Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: R E Witcomb
Miss F J Fellows
Ms B A Witcomb





REGISTERED OFFICE: Unit 6a
Zone 4 Burntwood Business Park
Burntwood
Staffordshire
WS7 3XD





REGISTERED NUMBER: 11178066 (England and Wales)





ACCOUNTANTS: Tomkinson Teal Limited
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

eComposite Products Limited (Registered number: 11178066)

Balance Sheet
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 75,527 56,474
75,527 56,474

CURRENT ASSETS
Stocks 293,308 311,093
Debtors 6 54,855 26,470
Cash at bank 244,862 361,265
593,025 698,828
CREDITORS
Amounts falling due within one year 7 (258,695 ) (345,248 )
NET CURRENT ASSETS 334,330 353,580
TOTAL ASSETS LESS CURRENT
LIABILITIES

409,857

410,054

CREDITORS
Amounts falling due after more than one
year

8

(140,413

)

(149,368

)

PROVISIONS FOR LIABILITIES (14,350 ) (10,730 )
NET ASSETS 255,094 249,956

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 254,994 249,856
SHAREHOLDERS' FUNDS 255,094 249,956

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

eComposite Products Limited (Registered number: 11178066)

Balance Sheet - continued
30 June 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 January 2024 and were signed on its behalf by:





R E Witcomb - Director


eComposite Products Limited (Registered number: 11178066)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

eComposite Products 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Website costs is being amortised evenly over its estimated useful life of four years.

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.
Improvements to property - 25% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 33% on cost

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 Profit and Loss Account, 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.

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.

eComposite Products Limited (Registered number: 11178066)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

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 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Website
costs
£   
COST
At 1 July 2022
and 30 June 2023 9,150
AMORTISATION
At 1 July 2022
and 30 June 2023 9,150
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Office
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 14,000 1,647 59,782 10,310 85,739
Additions - 34,147 - 6,683 40,830
At 30 June 2023 14,000 35,794 59,782 16,993 126,569
DEPRECIATION
At 1 July 2022 3,500 271 19,878 5,616 29,265
Charge for year 3,500 4,354 9,977 3,946 21,777
At 30 June 2023 7,000 4,625 29,855 9,562 51,042
NET BOOK VALUE
At 30 June 2023 7,000 31,169 29,927 7,431 75,527
At 30 June 2022 10,500 1,376 39,904 4,694 56,474

eComposite Products Limited (Registered number: 11178066)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2022 - 59,782 59,782
Additions 30,971 - 30,971
At 30 June 2023 30,971 59,782 90,753
DEPRECIATION
At 1 July 2022 - 19,878 19,878
Charge for year 3,871 9,977 13,848
At 30 June 2023 3,871 29,855 33,726
NET BOOK VALUE
At 30 June 2023 27,100 29,927 57,027
At 30 June 2022 - 39,904 39,904

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,488 9,784
Other debtors 46,367 16,686
54,855 26,470

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,000 5,007
Hire purchase contracts (see note 9) 13,113 6,827
Trade creditors 149,859 163,050
Taxation and social security 62,904 94,649
Other creditors 27,819 75,715
258,695 345,248

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 37,917 42,917
Hire purchase contracts (see note 9) 35,088 23,063
Other creditors 67,408 83,388
140,413 149,368

eComposite Products Limited (Registered number: 11178066)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 17,917 22,917
Other loans more 5yrs instal - 9,420
17,917 32,337

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 13,113 6,827
Between one and five years 35,088 23,063
48,201 29,890

Non-cancellable operating leases
2023 2022
£    £   
Within one year 15,000 15,000
Between one and five years 15,000 30,000
30,000 45,000

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
65 Ordinary A Shares £1 65 65
25 Ordinary B Shares £1 25 25
5 Ordinary C Shares £1 5 5
5 Ordinary D Shares £1 5 5
100 100

11. OTHER FINANCIAL COMMITMENTS

As at 30 June 2023, there were outstanding pension contributions of £572.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
eComposite Products Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of eComposite Products Limited for the year ended 30 June 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of eComposite Products Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of eComposite Products Limited and state those matters that we have agreed to state to the Board of Directors of eComposite Products Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than eComposite Products Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that eComposite Products Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of eComposite Products Limited. You consider that eComposite Products Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of eComposite Products Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Tomkinson Teal Limited
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD


30 January 2024