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Registration number: 14527334

Engineering Group Limited

Unaudited Filleted Financial Statements

for the Period from 7 December 2022 to 31 December 2023

 

Engineering Group Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Engineering Group Limited

(Registration number: 14527334)
Balance Sheet as at 31 December 2023

Note

2023
£

Fixed assets

 

Investments

4

4,228,442

Current assets

 

Cash at bank and in hand

 

129,988

Creditors: Amounts falling due within one year

5

(397,252)

Net current liabilities

 

(267,264)

Total assets less current liabilities

 

3,961,178

Creditors: Amounts falling due after more than one year

5

(2,344,182)

Net assets

 

1,616,996

Capital and reserves

 

Called up share capital

6

3

Profit and loss account

1,616,993

Shareholders' funds

 

1,616,996

For the financial period ending 31 December 2023 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 period 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 4 September 2024 and signed on its behalf by:
 

.........................................
R J Bowes
Director

 

Engineering Group Limited

Notes to the Unaudited Financial Statements for the Period from 7 December 2022 to 31 December 2023

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:
Unit 8 Sheldon Way
Larkfield
Aylesford
ME20 6SE
England

These financial statements were authorised for issue by the Board on 4 September 2024.

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.

The financial statements are presented in Sterling (£) which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

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

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in subsidiary undertakings are recognised at cost less any accumulated impairment.

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.

 

Engineering Group Limited

Notes to the Unaudited Financial Statements for the Period from 7 December 2022 to 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3.

4

Investments

2023
£

Investments in subsidiaries

4,228,442

Subsidiaries

£

Cost or valuation

Additions

4,228,442

Carrying amount

At 31 December 2023

4,228,442

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

7

130,000

Accruals and deferred income

 

1,800

Other creditors

 

265,452

 

397,252


Other creditors of £229,316 are secured by way of a fixed and floating charge over the company's assets.

 

Engineering Group Limited

Notes to the Unaudited Financial Statements for the Period from 7 December 2022 to 31 December 2023

Creditors: amounts falling due after more than one year

2023
£

Due after one year

Other non-current financial liabilities

2,344,182


Other non-current financial liabilities of £2,344,182 are secured by way of a fixed and floating charge over the company's assets.

6

Share capital

Allotted, called up and fully paid shares

2023

No.

£

Ordinary shares of £1 each

3

3

   

Upon incorporation, three ordinary shares of £1 each were issued at par value.

7

Related party transactions

The company has taken advantage of the exemption contained in FRS 102 section 33 “Related Party Disclosures” from disclosing transactions with entities which are a wholly owned part of the group.

Included in other creditors is an amount of £36,136 owed to the company's directors. This amount is provided interest-free and is repayable on demand, with no formal terms.