2 01/04/2023 31/03/2024 2024-03-31 false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2023-04-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 06534417 2023-04-01 2024-03-31 06534417 2024-03-31 06534417 2023-03-31 06534417 2022-04-01 2023-03-31 06534417 2023-03-31 06534417 2022-03-31 06534417 core:IntangibleAssetsOtherThanGoodwill 2023-04-01 2024-03-31 06534417 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 06534417 core:MotorVehicles 2023-04-01 2024-03-31 06534417 bus:Director1 2023-04-01 2024-03-31 06534417 core:IntangibleAssetsOtherThanGoodwill 2023-03-31 06534417 core:IntangibleAssetsOtherThanGoodwill 2024-03-31 06534417 core:FurnitureFittingsToolsEquipment 2023-03-31 06534417 core:MotorVehicles 2023-03-31 06534417 core:FurnitureFittingsToolsEquipment 2024-03-31 06534417 core:MotorVehicles 2024-03-31 06534417 core:WithinOneYear 2024-03-31 06534417 core:WithinOneYear 2023-03-31 06534417 core:AfterOneYear 2024-03-31 06534417 core:AfterOneYear 2023-03-31 06534417 core:ShareCapital 2024-03-31 06534417 core:ShareCapital 2023-03-31 06534417 core:RetainedEarningsAccumulatedLosses 2024-03-31 06534417 core:RetainedEarningsAccumulatedLosses 2023-03-31 06534417 core:IntangibleAssetsOtherThanGoodwill 2023-03-31 06534417 core:FurnitureFittingsToolsEquipment 2023-03-31 06534417 core:MotorVehicles 2023-03-31 06534417 bus:SmallEntities 2023-04-01 2024-03-31 06534417 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06534417 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06534417 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06534417 bus:FullAccounts 2023-04-01 2024-03-31
Company registration number: 06534417
ENGINEERED SOLUTIONS (PROJECTS) LIMITED
UNAUDITED FILLETED FINANCIAL STATEMENTS
31 March 2024
ENGINEERED SOLUTIONS (PROJECTS) LIMITED
Company number: 06534417
CONTENTS
Statement of financial position
Notes to the financial statements
ENGINEERED SOLUTIONS (PROJECTS) LIMITED
Company number: 06534417
STATEMENT OF FINANCIAL POSITION
AS AT 31ST MARCH 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 6,920 8,200
Tangible assets 6 29,926 33,084
_______ _______
36,846 41,284
Current assets
Stocks 4,292 -
Debtors 7 132,960 118,202
Cash at bank and in hand 152,494 190,147
_______ _______
289,746 308,349
Creditors: amounts falling due
within one year 8 ( 139,592) ( 145,073)
_______ _______
Net current assets 150,154 163,276
_______ _______
Total assets less current liabilities 187,000 204,560
Creditors: amounts falling due
after more than one year 9 ( 8,460) ( 17,865)
Provisions for liabilities ( 7,001) ( 7,844)
_______ _______
Net assets 171,539 178,851
_______ _______
Capital and reserves
Called up share capital 3 3
Profit and loss account 10 171,536 178,848
_______ _______
Shareholders funds 171,539 178,851
_______ _______
For the 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 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 statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 06 September 2024 , and are signed on behalf of the board by:
.......................
Mr P R Casebourne
Director
Company registration number: 06534417
ENGINEERED SOLUTIONS (PROJECTS) LIMITED
Company number: 06534417
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Bainbridge House, 379 Stamfordham Road, Westerhope, Newcastle upon Tyne, NE5 2LH.
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.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
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:
Combined other intangible assets - 20 % 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 is subsequently stated at cost less any accumulated depreciation and any 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:
Fittings fixtures and equipment - 10 % reducing balance
Motor vehicles - 25 % reducing balance
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.
Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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 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 in finance costs 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, 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.Debt instruments are subsequently measured at amortised cost.Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Intangible assets
Other intangible assets Total
£ £
Cost
At 1st April 2023 23,600 23,600
Additions 4,300 4,300
_______ _______
At 31st March 2024 27,900 27,900
_______ _______
Amortisation
At 1st April 2023 15,400 15,400
Charge for the year 5,580 5,580
_______ _______
At 31st March 2024 20,980 20,980
_______ _______
Carrying amount
At 31st March 2024 6,920 6,920
_______ _______
At 31st March 2023 8,200 8,200
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1st April 2023 37,760 50,842 88,602
Additions 3,600 - 3,600
_______ _______ _______
At 31st March 2024 41,360 50,842 92,202
_______ _______ _______
Depreciation
At 1st April 2023 25,272 30,246 55,518
Charge for the year 1,609 5,149 6,758
_______ _______ _______
At 31st March 2024 26,881 35,395 62,276
_______ _______ _______
Carrying amount
At 31st March 2024 14,479 15,447 29,926
_______ _______ _______
At 31st March 2023 12,488 20,596 33,084
_______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 132,423 116,858
Other debtors 537 1,344
_______ _______
132,960 118,202
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 101,925 103,891
Corporation tax 1,300 3,900
Social security and other taxes 6,207 10,691
Other creditors 30,160 26,591
_______ _______
139,592 145,073
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 8,460 17,865
_______ _______
10. Reserves
Profit and loss account: This reserve records retained earnings and accumulated losses.