Registered number
11109428
EKM FIXING SERVICES LTD
Unaudited Accounts
31 December 2023
EKM FIXING SERVICES LTD
Registered number: 11109428
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 6,460 8,075
Current assets
Debtors 4 16,329 24,988
Cash at bank and in hand 3,971 2,084
20,300 27,072
Creditors: amounts falling due within one year 5 (10,356) (10,356)
Net current assets 9,944 16,716
Total assets less current liabilities 16,404 24,791
Creditors: amounts falling due after more than one year 6 (27,500) (32,500)
Provisions for liabilities (1,227) (1,535)
Net liabilities (12,323) (9,244)
Capital and reserves
Called up share capital 1 1
Profit and loss account (12,324) (9,245)
Shareholder's funds (12,323) (9,244)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
ERVIN KIRMAJER
Director
Approved by the board on 28 February 2024
EKM FIXING SERVICES LTD
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant, machinery and equipment 20% reducing balance basis
Motor vehicles 20% reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Going concern
The coronavirus pandemic has significantly disrupted individuals' personal lives and businesses' economic prospects in the UK and across the globe. We have taken advantage of government assistance and received a loan of £50,000 in March 2021 under the Bounce Back Loan Scheme and the balance still repayable at the year end 31 December 2023 was £37,500 . We have continued to prepare the accounts on the going concern basis and deem this appropriate. We do not consider that a material uncertainty about our going concern status exists as we continue to look for suitable opportunities for growing the business. In making this assessment we have considered the likely trading conditions for a period of twelve months from the date of our approval of these accounts.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 2,843 10,500 13,343
At 31 December 2023 2,843 10,500 13,343
Depreciation
At 1 January 2023 1,488 3,780 5,268
Charge for the year 271 1,344 1,615
At 31 December 2023 1,759 5,124 6,883
Net book value
At 31 December 2023 1,084 5,376 6,460
At 31 December 2022 1,355 6,720 8,075
4 Debtors 2023 2022
£ £
Other debtors 16,329 24,988
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 356 356
10,356 10,356
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 27,500 32,500
7 Other information
EKM FIXING SERVICES LTD is a private company limited by shares and incorporated in England. Its registered office is:
Suite 7 Claremont House
22-24 Claremont Road
Surbiton
Surrey
KT6 4QU
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