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REGISTERED NUMBER: NI063024 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

ELECTRICAL MACHINE SERVICES LTD

ELECTRICAL MACHINE SERVICES LTD (REGISTERED NUMBER: NI063024)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


ELECTRICAL MACHINE SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mrs A McKeen
W A McKeen



SECRETARY: Mrs A McKeen



REGISTERED OFFICE: 3 Ballynure Road
Ballyclare
Antrim
Co. Antrim
BT39 9AG



REGISTERED NUMBER: NI063024 (Northern Ireland)



ACCOUNTANTS: Baker Tilly Mooney Moore
17 Clarendon Road
Belfast
BT1 3BG



BANKERS: Danske Bank
Donegall Square West
Belfast
BT1 6JS

ELECTRICAL MACHINE SERVICES LTD (REGISTERED NUMBER: NI063024)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,076,598 751,846

CURRENT ASSETS
Debtors 5 198,235 -
Cash at bank 21,722 31,694
219,957 31,694
CREDITORS
Amounts falling due within one year 6 1,030,340 696,605
NET CURRENT LIABILITIES (810,383 ) (664,911 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

266,215

86,935

CREDITORS
Amounts falling due after more than one
year

7

354,216

135,535
NET LIABILITIES (88,001 ) (48,600 )

CAPITAL AND RESERVES
Called up share capital 1,280 1,280
Share premium 21,720 21,720
Retained earnings (111,001 ) (71,600 )
(88,001 ) (48,600 )

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

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

ELECTRICAL MACHINE SERVICES LTD (REGISTERED NUMBER: NI063024)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 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 3 April 2024 and were signed on its behalf by:





W A McKeen - Director


ELECTRICAL MACHINE SERVICES LTD (REGISTERED NUMBER: NI063024)

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


1. STATUTORY INFORMATION

Electrical Machine Services Ltd is a private company, limited by shares , registered in Northern Ireland. 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.

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.
Fixtures, fittings & equipment - 20% on cost
Motor vehicles - at varying rates on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

ELECTRICAL MACHINE SERVICES LTD (REGISTERED NUMBER: NI063024)

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


4. TANGIBLE FIXED ASSETS
Fixtures,
Freehold fittings Motor
property & equipment vehicles Totals
£    £    £    £   
COST
At 1 August 2022 259,080 652 523,984 783,716
Additions 73,159 - 382,500 455,659
Disposals - - (125,000 ) (125,000 )
At 31 July 2023 332,239 652 781,484 1,114,375
DEPRECIATION
At 1 August 2022 14,220 652 16,998 31,870
Charge for year 5,907 - - 5,907
At 31 July 2023 20,127 652 16,998 37,777
NET BOOK VALUE
At 31 July 2023 312,112 - 764,486 1,076,598
At 31 July 2022 244,860 - 506,986 751,846

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2022 270,490
Additions 382,500
Disposals (125,000 )
At 31 July 2023 527,990
NET BOOK VALUE
At 31 July 2023 527,990
At 31 July 2022 270,490

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Other debtors 198,235 -

ELECTRICAL MACHINE SERVICES LTD (REGISTERED NUMBER: NI063024)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 9,828 9,586
Hire purchase contracts 25,379 30,454
Amounts owed to group undertakings 990,131 633,839
Other creditors 5,002 22,726
1,030,340 696,605

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 27,443 37,272
Hire purchase contracts 326,773 98,263
354,216 135,535

8. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Hire purchase contracts 352,152 128,717

Hire purchase agreements are secured against the assets to which they relate.