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REGISTERED NUMBER: 01884830 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 December 2023

for


Eumar Technology Limited


Eumar Technology Limited (Registered number: 01884830)


Contents of the Financial Statements

for the year ended 31 December 2023











Page



Company Information  

1



Abridged Balance Sheet  

2



Notes to the Financial Statements  

4




Eumar Technology Limited


Company Information

for the year ended 31 December 2023









Directors:

R I Davidson


Mrs S L Davidson


Ms G S Johnson


Mrs M McCulloch


E E Davidson


C P Low







Registered office:

Suite A, Whitestone Business Park


Whitestone


Hereford


Herefordshire


HR1 3SE







Registered number:

01884830 (England and Wales)







Accountants:

Acre Accountancy Limited


Unit 2 Foley Works


Foley Industrial Estate


Hereford


Herefordshire


HR1 2SF


Eumar Technology Limited (Registered number: 01884830)


Abridged Balance Sheet

31 December 2023



2023


2022


Notes

£   

£   


FIXED ASSETS

Intangible assets

5

3,293


3,901



Tangible assets

6

1,898,190


2,077,894



1,901,483


2,081,795




CURRENT ASSETS

Stocks

508,952


575,393



Debtors

1,596,340


855,818



Cash at bank and in hand

640,113


906,834



2,745,405


2,338,045



CREDITORS

Amounts falling due within one year

(530,136

)

(662,695

)


NET CURRENT ASSETS

2,215,269


1,675,350



TOTAL ASSETS LESS CURRENT

LIABILITIES

4,116,752


3,757,145




PROVISIONS FOR LIABILITIES

(382,288

)

(380,970

)



ACCRUALS AND DEFERRED INCOME

(14,250

)

(17,250

)


NET ASSETS

3,720,214


3,358,925




CAPITAL AND RESERVES

Called up share capital

9

5,625


5,625



Capital redemption reserve

10

625


625



Retained earnings

10

3,713,964


3,352,675



SHAREHOLDERS' FUNDS

3,720,214


3,358,925




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


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


Eumar Technology Limited (Registered number: 01884830)


Abridged Balance Sheet - continued

31 December 2023



The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.  


All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.  


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 23 July 2024 and were signed on its behalf by:






E E Davidson - Director



Eumar Technology Limited (Registered number: 01884830)


Notes to the Financial Statements

for the year ended 31 December 2023



1.

STATUTORY INFORMATION



Eumar Technology 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.


2.

STATEMENT OF COMPLIANCE



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.  


3.

ACCOUNTING POLICIES



Basis of preparing the financial statements


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.


Patents and licences are being amortised evenly over their estimated useful life of ten years.



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

-

20% on cost


Plant and machinery

-

10% on cost


Fixtures and fittings

-

Straight line over 8 years


Computer equipment

-

20% 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.


Eumar Technology Limited (Registered number: 01884830)


Notes to the Financial Statements - continued

for the year ended 31 December 2023



3.

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.


Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.


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.


Financial instruments


Financial instruments are classified and accounted for according to the substance of the contractual arrangement. They are classified as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.



Deferred government grants


Deferred government grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful life of the assets to which they relate.


4.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 36 (2022 - 39 ) .


Eumar Technology Limited (Registered number: 01884830)


Notes to the Financial Statements - continued

for the year ended 31 December 2023



5.

INTANGIBLE FIXED ASSETS


Totals

£   



Cost


At 1 January 2023


and 31 December 2023

6,080




Amortisation


At 1 January 2023

2,179




Amortisation for year

608




At 31 December 2023

2,787




Net book value



At 31 December 2023

3,293




At 31 December 2022

3,901




6.

TANGIBLE FIXED ASSETS


Totals

£   



Cost


At 1 January 2023

3,136,017




Additions

305,905




Disposals

(204,795

)



At 31 December 2023

3,237,127




Depreciation


At 1 January 2023

1,058,123




Charge for year

317,898




Eliminated on disposal

(37,084

)



At 31 December 2023

1,338,937




Net book value


At 31 December 2023

1,898,190




At 31 December 2022

2,077,894




Hire purchase agreements

Included within the net book value above is £NIL (2022- £20,460) relating to assets held under hire purchase agreements. These assets are provided as security for hire purchase liabilities.


Eumar Technology Limited (Registered number: 01884830)


Notes to the Financial Statements - continued

for the year ended 31 December 2023



7.

LEASING AGREEMENTS



Minimum lease payments fall due as follows:



Hire purchase contracts


2023

2022


£   

£   



Net obligations repayable:


Within one year

-


4,928





Non-cancellable operating

leases


2023

2022


£   

£   



Within one year

72,500


107,500




Between one and five years

175,990


248,490



248,490


355,990




8.

SECURED DEBTS



The following secured debts are included within creditors:


2023

2022


£   

£   



Hire purchase contracts

-


4,928




9.

CALLED UP SHARE CAPITAL



Allotted and issued:


Class:              


Nominal




Number:



value:



£  





4,850


Ordinary F shares


£1    



4,850




281


Ordinary R shares


£1    



281




124


Ordinary S shares


£1    



124




68


Ordinary M shares


£1    



68




124


Ordinary E shares


£1    



124




178


Ordinary ED shares


  £1    



178





5,625




Eumar Technology Limited (Registered number: 01884830)


Notes to the Financial Statements - continued

for the year ended 31 December 2023



10.

RESERVES


Capital



Retained


redemption



earnings


reserve


Totals

£   

£   

£   




At 1 January 2023

3,352,675


625


3,353,300




Profit for the year

365,889


365,889




Dividends

(4,600

)

(4,600

)



At 31 December 2023

3,713,964


625


3,714,589