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COMPANY REGISTRATION NUMBER: 06446234
Eco Control Solutions Limited
Filleted unaudited financial statements
31 December 2023
Eco Control Solutions Limited
Statement of financial position
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Intangible assets
5
1,200
1,800
Tangible assets
6
150,742
111,338
---------
---------
151,942
113,138
Current assets
Stocks
700
3,325
Debtors
7
71,837
194,554
Cash at bank and in hand
252,321
402,377
---------
---------
324,858
600,256
Creditors: amounts falling due within one year
8
77,393
172,831
---------
---------
Net current assets
247,465
427,425
---------
---------
Total assets less current liabilities
399,407
540,563
Provisions
Taxation including deferred tax
9
630
3,895
Other provisions
9
249,998
194,321
---------
---------
250,628
198,216
---------
---------
Net assets
148,779
342,347
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
148,777
342,345
---------
---------
Shareholders funds
148,779
342,347
---------
---------
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 statement of income and retained earnings has not been delivered.
For the year ending 31st 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 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 .
Eco Control Solutions Limited
Statement of financial position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 13 September 2024 , and are signed on behalf of the board by:
Mr M Hawks
Director
Company registration number: 06446234
Eco Control Solutions Limited
Notes to the financial statements
Year ended 31st December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Titan House, Wakefield Road, Hemsworth, Pontefract, West Yorkshire, WF9 4AB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
Deferred tax is recognised in respect of material timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Bespoke software
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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:
Leasehold improvements
-
10% straight line
Fixtures, fittings and equipment
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at cost. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its 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 statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price. Other financial instruments are initially recognised at fair value and are subsequently measured at fair value, with any changes recognised in profit or loss. The company holds the following financial assets and liabilities: Cash Short-term trade and other debtors and creditors Cash in the balance sheet comprises cash at banks and in hand and short-term deposits with an original maturity date of three months or less. These balances are recorded at transaction price. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of income before operating profit. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date.
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 11 (2022: 10 ).
5. Intangible assets
Bespoke software
£
Cost
At 1st January 2023 and 31st December 2023
6,000
--------
Amortisation
At 1st January 2023
4,200
Charge for the year
600
--------
At 31st December 2023
4,800
--------
Carrying amount
At 31st December 2023
1,200
--------
At 31st December 2022
1,800
--------
6. Tangible assets
Leasehold improvements
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1st January 2023
57,648
36,649
141,053
235,350
Additions
4,113
95,546
99,659
Disposals
( 1,510)
( 57,548)
( 59,058)
--------
--------
---------
---------
At 31st December 2023
57,648
39,252
179,051
275,951
--------
--------
---------
---------
Depreciation
At 1st January 2023
16,969
21,477
85,566
124,012
Charge for the year
5,765
3,715
33,651
43,131
Disposals
( 820)
( 41,114)
( 41,934)
--------
--------
---------
---------
At 31st December 2023
22,734
24,372
78,103
125,209
--------
--------
---------
---------
Carrying amount
At 31st December 2023
34,914
14,880
100,948
150,742
--------
--------
---------
---------
At 31st December 2022
40,679
15,172
55,487
111,338
--------
--------
---------
---------
7. Debtors
2023
2022
£
£
Trade debtors
55,595
180,786
Other debtors
16,242
13,768
--------
---------
71,837
194,554
--------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
558
Trade creditors
1,793
15,992
Corporation tax
3,593
89,771
Social security and other taxes
57,375
50,015
Other creditors
14,632
16,495
--------
---------
77,393
172,831
--------
---------
9. Provisions
Warranties
Deferred tax
Total
£
£
£
At 1st January 2023
194,321
3,895
198,216
Additions
106,167
106,167
Charge against provision
( 50,490)
( 3,265)
( 53,755)
---------
--------
---------
At 31st December 2023
249,998
630
250,628
---------
--------
---------
10. Directors' advances, credits and guarantees
During March 2023, a Director's loan account became overdrawn by £25,000 and to the extent of £121,380 by October 2023. £120,000 was repaid in November 2023 and the overdrawn balance as of 31st December 2023 was £1,380. This loan was settled in full on 16th August 2024. Interest at HMRC's official rate was charged on the loan.
11. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1a.