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REGISTERED NUMBER: 01446399 (England and Wales)











SECOL ENGINEERING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2023






SECOL ENGINEERING LTD (REGISTERED NUMBER: 01446399)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


SECOL ENGINEERING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2023







DIRECTORS: B H Saunders
G B Saunders





SECRETARY: G B Saunders





REGISTERED OFFICE: 6-9 Cubitt Way
Brunel Road
Churchfields Industrial Estate
Hastings
East Sussex
TN38 9SU





REGISTERED NUMBER: 01446399 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
20 Eversley Road
Bexhill-on-Sea
East Sussex
TN40 1HE

SECOL ENGINEERING LTD (REGISTERED NUMBER: 01446399)

BALANCE SHEET
31ST OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 604,041 593,781

CURRENT ASSETS
Stocks 21,978 18,289
Debtors 5 506,813 475,115
Investments 6 1,394,580 805,653
Cash at bank and in hand 1,415,815 1,744,595
3,339,186 3,043,652
CREDITORS
Amounts falling due within one year 7 790,183 537,065
NET CURRENT ASSETS 2,549,003 2,506,587
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,153,044

3,100,368

PROVISIONS FOR LIABILITIES 103,110 113,213
NET ASSETS 3,049,934 2,987,155

CAPITAL AND RESERVES
Called up share capital 8 618 618
Share premium 9 59,808 59,808
Fair value reserve 9 - 27,362
Retained earnings 9 2,989,508 2,899,367
SHAREHOLDERS' FUNDS 3,049,934 2,987,155

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

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

SECOL ENGINEERING LTD (REGISTERED NUMBER: 01446399)

BALANCE SHEET - continued
31ST OCTOBER 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 13th March 2024 and were signed on its behalf by:




B H Saunders - Director



G B Saunders - Director


SECOL ENGINEERING LTD (REGISTERED NUMBER: 01446399)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023


1. STATUTORY INFORMATION

Secol Engineering Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - in accordance with the property
Plant and machinery - 15% on reducing balance
Fixtures, fittings & equipment - 33% on reducing balance and 10% on reducing balance
Motor vehicles - 20% 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.

Investments
Investments in shares are included at fair value. Any increase in fair value is not distributable until such time that it is realised, and it is therefore transferred to a non-distributable fair value reserve at the end of each period. Where there is a reduction in fair value, this will first reduce the fair value reserve. Should the reduction exceed the fair value reserve, any remaining amount will reduce distributable reserves.

Deferred tax is recognised on any unrealised gain arising from an increase in fair value. The amount transferred to the fair value reserve is net of deferred tax.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 25 (2022 - 22 ) .

SECOL ENGINEERING LTD (REGISTERED NUMBER: 01446399)

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


4. TANGIBLE FIXED ASSETS
Fixtures,
Long Plant and fittings Motor
leasehold machinery & equipment vehicles Totals
£    £    £    £    £   
COST
At 1st November 2022 176,814 1,318,402 16,086 156,234 1,667,536
Additions - 82,219 - 34,227 116,446
At 31st October 2023 176,814 1,400,621 16,086 190,461 1,783,982
DEPRECIATION
At 1st November 2022 101,195 897,254 14,835 60,471 1,073,755
Charge for year 4,421 75,504 263 25,998 106,186
At 31st October 2023 105,616 972,758 15,098 86,469 1,179,941
NET BOOK VALUE
At 31st October 2023 71,198 427,863 988 103,992 604,041
At 31st October 2022 75,619 421,148 1,251 95,763 593,781

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 490,865 459,204
Other debtors 15,948 15,911
506,813 475,115

6. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments 1,394,580 805,653

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 77,111 51,557
Taxation and social security 177,368 151,669
Other creditors 535,704 333,839
790,183 537,065

SECOL ENGINEERING LTD (REGISTERED NUMBER: 01446399)

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


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
618 Ordinary £1 618 618

9. RESERVES
Fair
Retained Share value
earnings premium reserve Totals
£    £    £    £   

At 1st November 2022 2,899,367 59,808 27,362 2,986,537
Profit for the year 62,779 62,779
Transfer between reserves 27,362 - (27,362 ) -
At 31st October 2023 2,989,508 59,808 - 3,049,316

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st October 2023 and 31st October 2022:

2023 2022
£    £   
B H Saunders
Balance outstanding at start of year 933 -
Amounts advanced - 933
Amounts repaid (933 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 933