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Registration number: 02561637

Unitech Engineering Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Unitech Engineering Services Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Unitech Engineering Services Limited

(Registration number: 02561637)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

41,608

32,979

Current assets

 

Stocks

6

200,670

174,238

Debtors

7

599,482

806,772

Cash at bank and in hand

 

95,892

50,000

 

896,044

1,031,010

Creditors: Amounts falling due within one year

8

(391,468)

(643,253)

Net current assets

 

504,576

387,757

Total assets less current liabilities

 

546,184

420,736

Creditors: Amounts falling due after more than one year

8

(64,900)

(130,098)

Provisions for liabilities

(9,282)

(5,360)

Net assets

 

472,002

285,278

Capital and reserves

 

Called up share capital

390

390

Retained earnings

471,612

284,888

Shareholders' funds

 

472,002

285,278

 

Unitech Engineering Services Limited

(Registration number: 02561637)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 August 2024 and signed on its behalf by:
 

.........................................
Mr A R Ralph
Director

 

Unitech Engineering Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Old Dairy
Ball Hill
Newbury
Berkshire
RG20 0NY

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for engineering services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Unitech Engineering Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

20% reducing balance basis

Office equipment

25% reducing balance basis

Plant and machinery

20% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Unitech Engineering Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Taxation

2024

2023

£

£

Corporation tax

38,563

4,299

Deferred tax

3,922

(887)

42,485

3,412

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 14 (2023 - 13).

 

Unitech Engineering Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Tangible assets

Land and buildings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

-

28,752

58,274

60,826

147,852

Additions

7,568

6,508

2,579

-

16,655

At 31 March 2024

7,568

35,260

60,853

60,826

164,507

Depreciation

At 1 April 2023

-

28,548

53,072

33,253

114,873

Charge for the year

-

860

1,651

5,515

8,026

At 31 March 2024

-

29,408

54,723

38,768

122,899

Carrying amount

At 31 March 2024

7,568

5,852

6,130

22,058

41,608

At 31 March 2023

-

204

5,202

27,573

32,979

Included within the net book value of land and buildings above is £7,568 (2023 - £Nil) in respect of freehold land and buildings.
 

 

Unitech Engineering Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Stocks

2024
£

2023
£

Other inventories

200,670

174,238

7

Debtors

2024
£

2023
£

Trade debtors

441,755

467,447

Other debtors

157,727

339,325

599,482

806,772

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

116,727

89,589

Trade creditors

 

152,011

400,011

Taxation and social security

 

86,283

101,846

Other creditors

 

36,447

51,807

 

391,468

643,253

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

64,900

130,098

 

Unitech Engineering Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

45,164

29,550

Other borrowings

71,563

60,039

116,727

89,589

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

64,900

130,098

10

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Mr A R Ralph

Short term interest bearing loan

43,590

214,118

(163,947)

93,761

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Mr A R Ralph

Short term interest bearing loan

33,758

204,047

(194,215)

43,590