9 01/05/2023 30/04/2024 2024-04-30 true false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-05-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP NI054920 2023-05-01 2024-04-30 NI054920 2024-04-30 NI054920 2023-04-30 NI054920 2022-05-01 2023-04-30 NI054920 2023-04-30 NI054920 2022-04-30 NI054920 core:PlantMachinery 2023-05-01 2024-04-30 NI054920 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 NI054920 core:MotorVehicles 2023-05-01 2024-04-30 NI054920 bus:RegisteredOffice 2023-05-01 2024-04-30 NI054920 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 NI054920 bus:LeadAgentIfApplicable 2023-05-01 2024-04-30 NI054920 bus:Agent1 2023-05-01 2024-04-30 NI054920 bus:Director1 2023-05-01 2024-04-30 NI054920 bus:Director2 2023-05-01 2024-04-30 NI054920 bus:CompanySecretary1 2023-05-01 2024-04-30 NI054920 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 NI054920 core:PlantMachinery 2023-04-30 NI054920 core:FurnitureFittingsToolsEquipment 2023-04-30 NI054920 core:MotorVehicles 2023-04-30 NI054920 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-30 NI054920 core:PlantMachinery 2024-04-30 NI054920 core:FurnitureFittingsToolsEquipment 2024-04-30 NI054920 core:MotorVehicles 2024-04-30 NI054920 core:WithinOneYear 2024-04-30 NI054920 core:WithinOneYear 2023-04-30 NI054920 core:AfterOneYear 2024-04-30 NI054920 core:AfterOneYear 2023-04-30 NI054920 core:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 NI054920 core:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 NI054920 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 NI054920 core:ShareCapital 2024-04-30 NI054920 core:ShareCapital 2023-04-30 NI054920 core:RetainedEarningsAccumulatedLosses 2024-04-30 NI054920 core:RetainedEarningsAccumulatedLosses 2023-04-30 NI054920 core:ShareCapital 2022-04-30 NI054920 core:RetainedEarningsAccumulatedLosses 2022-04-30 NI054920 core:PreviouslyStatedAmount core:ShareCapital 2024-04-30 NI054920 bus:OrdinaryShareClass1 core:ShareCapital 2024-04-30 NI054920 bus:OrdinaryShareClass1 core:ShareCapital 2023-04-30 NI054920 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 NI054920 core:PlantMachinery 2023-04-30 NI054920 core:FurnitureFittingsToolsEquipment 2023-04-30 NI054920 core:MotorVehicles 2023-04-30 NI054920 bus:SmallEntities 2023-05-01 2024-04-30 NI054920 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 NI054920 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 NI054920 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 NI054920 bus:FullAccounts 2023-05-01 2024-04-30 NI054920 core:AllAssociates 2023-05-01 2024-04-30 NI054920 core:AllAssociates 2022-05-01 2023-04-30 NI054920 core:AllAssociates 2024-04-30 NI054920 core:AllAssociates 2023-04-30
Company registration number: NI054920
ELSS Engineering Limited
Unaudited filleted financial statements
30 April 2024
ELSS Engineering Limited
Contents
Directors and other information
Balance sheet
Statement of changes in equity
Notes to the financial statements
ELSS Engineering Limited
Directors and other information
Directors Mr Jeffrey McAteer
Mrs Angela McAteer
Secretary Mrs Angela McAteer
Company number NI054920
Registered office Unit 3
Windyhill Retail Park
16 Windyhill Road
Limavady
BT49 0RA
Accountants Fergus McAteer & Co.
31/33 Clarendon Street
Derry
BT48 7ER
Bankers Bank of Ireland
2 The Diamond
Coleraine
BT52 1DE
HSBC
25-29 Royal Avenue
Belfast
BT1 1FB
ELSS Engineering Limited
Balance sheet
30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 264,589 51,960
_______ _______
264,589 51,960
Current assets
Stocks 6 383,060 1,019,789
Debtors 7 668,139 619,832
Cash at bank and in hand 1,909,898 15,282
_______ _______
2,961,097 1,654,903
Creditors: amounts falling due
within one year 8 ( 1,537,913) ( 483,569)
_______ _______
Net current assets 1,423,184 1,171,334
_______ _______
Total assets less current liabilities 1,687,773 1,223,294
Creditors: amounts falling due
after more than one year 9 ( 24,158) ( 39,215)
Provisions for liabilities ( 16,073) ( 9,073)
_______ _______
Net assets 1,647,542 1,175,006
_______ _______
Capital and reserves
Called up share capital 10 2 2
Profit and loss account 1,647,540 1,175,004
_______ _______
Shareholders funds 1,647,542 1,175,006
_______ _______
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 July 2024 , and are signed on behalf of the board by:
Mr Jeffrey McAteer
Director
Company registration number: NI054920
ELSS Engineering Limited
Statement of changes in equity
Year ended 30 April 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 May 2022 2 1,003,615 1,003,617
Profit for the year 185,864 185,864
_______ _______ _______
Total comprehensive income for the year - 185,864 185,864
Dividends paid and payable ( 14,475) ( 14,475)
_______ _______ _______
Total investments by and distributions to owners - ( 14,475) ( 14,475)
_______ _______ _______
At 30 April 2023 and 1 May 2023 2 1,175,004 1,175,006
Profit for the year 548,659 548,659
_______ _______ _______
Total comprehensive income for the year - 548,659 548,659
Dividends paid and payable ( 76,123) ( 76,123)
_______ _______ _______
Total investments by and distributions to owners - ( 76,123) ( 76,123)
_______ _______ _______
At 30 April 2024 2 1,647,540 1,647,542
_______ _______ _______
ELSS Engineering Limited
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Unit 3, Windyhill Retail Park, 16 Windyhill Road, Limavady, BT49 0RA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % reducing balance
Fittings fixtures and equipment - 20 % reducing balance
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance Sheet and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 9 (2023: 9 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 May 2023 5,411 9,350 44,885 55,600 115,246
Additions 194,883 - 916 30,275 226,074
Disposals - - - ( 17,300) ( 17,300)
_______ _______ _______ _______ _______
At 30 April 2024 200,294 9,350 45,801 68,575 324,020
_______ _______ _______ _______ _______
Depreciation
At 1 May 2023 - 5,520 30,093 27,673 63,286
Charge for the year - 766 3,104 9,575 13,445
Disposals - - - ( 17,300) ( 17,300)
_______ _______ _______ _______ _______
At 30 April 2024 - 6,286 33,197 19,948 59,431
_______ _______ _______ _______ _______
Carrying amount
At 30 April 2024 200,294 3,064 12,604 48,627 264,589
_______ _______ _______ _______ _______
At 30 April 2023 5,411 3,830 14,792 27,927 51,960
_______ _______ _______ _______ _______
6. Stocks
2024 2023
£ £
Work in progress 333,060 944,789
Finished goods and goods for resale 50,000 75,000
_______ _______
383,060 1,019,789
_______ _______
7. Debtors
2024 2023
£ £
Trade debtors 567,940 524,058
Other debtors 100,199 95,774
_______ _______
668,139 619,832
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 59,236 23,536
Trade creditors 698,136 200,716
Corporation tax 234,779 111,354
Social security and other taxes 102,822 65,721
Other creditors 442,940 82,242
_______ _______
1,537,913 483,569
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 13,467 23,463
Other creditors 10,691 15,752
_______ _______
24,158 39,215
_______ _______
10. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 2 2 2 2
_______ _______ _______ _______
11. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2024 2023 2024 2023
£ £ £ £
Associated Company ( 31,873) 9,688 ( 1,202) 30,671
_______ _______ _______ _______