Eiken Contract Services Ltd |
Registered Number:SC471396 |
For the year ended 31 January 2024
Scotland
Unaudited Financial Statements
For the year ended 31 January 2024
Eiken Contract Services Ltd
Contents Page
1
Statement of Financial Position
2 to 6
Notes to the Financial Statements
Eiken Contract Services Ltd
Statement of Financial Position
2023
2024
Property, plant and equipment |
31,487
41,982
2
3,486
3,486
3
34,973
45,468
Trade and other receivables |
296,149
274,695
4
56,881
Cash and cash equivalents |
2,105
276,800
353,030
Trade and other payables: amounts falling due within one year |
(369,958)
(309,265)
5
(16,928)
(32,465)
Net current liabilities
Total assets less current liabilities |
2,508
28,540
Trade and other payables: amounts falling due after more than |
one year |
(41,131)
(22,866)
6
(5,982)
(7,976)
Provisions for liabilities |
(26,340)
Net liabilities
(20,567)
100
100
(26,440)
(20,667)
(26,340)
(20,567)
Shareholders' funds
For the year ended 31 January 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each |
financial year and of its profit or loss for each financial year in accordance with the requirements of Section 394 and 395 and |
which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as |
applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 12 September 2024 and were signed by: |
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For the year ended 31 January 2024
Eiken Contract Services Ltd
Statement of Financial Position Continued
The notes form part of these financial statements |
2 of 6
For the year ended 31 January 2024
Eiken Contract Services Ltd
Notes to the Financial Statements
Statutory Information
Eiken Contract Services Ltd is a private limited company, limited by shares, domiciled in Scotland, registration number |
SC471396. |
Principal place of business: |
Beechwood
Quarrelton Road
Johnstone
PA5 8NH
223 Ayr Road
Newton Mearns
Glasgow
G77 6GN
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting |
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. |
The financial statements have been prepared under the historical costs convention as modified by the revaluation of certain |
assets to fair value where required. |
The financial statements are prepared in Pounds Sterling, being the functional currency of the company. |
Significant judgements and estimates
In applying the company accounting policies, the director makes judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources.Any estimates and assumptions are based on historical experience and other relevant factors. Actual results may differ from the estimates. Estimates and assumptions are under continuous review. Any revision will be recognised in the period of its revisal and also in future periods where applicable. |
Revenue recognition
Turnover is recognised at the fair value of consideration received or receivable for goods and services provided in the normal course of business. Turnover is shown net of VAT and other sales related taxes.Fair value takes into consideration, any trade or settlement discounts and volume rebates. Where cash inflows are deferred within an agreed financing arrangement, fair value is the present value of all future receipts. Revenue from the sale of goods is recognised when the risk or rewards of ownership have been passed to the buyer (normally on dispatch of goods). The value should be measured reliably recognising both revenue and costs associated with the transaction. Revenue from contracts is recognised by reference to the stage of completion, costs incurred and the estimated costs of completion where these can be calculated reliably. Where the outcome cannot be measured reliably, revenue is restricted to the extent of the expenses incurred and to their probability of recovery. |
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives at the following rates. Any gain or loss on disposal of an asset is credited or charged to the Profit and Loss account in the year of disposal. |
Computer and IT Equipment
Motor Vehicles
Fixtures and Fittings
3 of 6
For the year ended 31 January 2024
Eiken Contract Services Ltd
Notes to the Financial Statements Continued
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. |
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. The carrying amount of deferred tax assets and liabilities is reviewed at each year end date and recalculated using tax rates expected to arise on realisation of the asset or settlement of the liablility. |
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease. Assets held under Finance Leases are recognised as assets and the related liability is included in the Balance sheet as a Finance Lease obligation.Finance Lease payments consist of capital and interest. The interest is charged to the profit and Loss account over the period of the lease. |
Pension costs and other post-retirement benefits
Payments to a defined contribution pension scheme for the benefit of its directors and employees are charged to the profit and loss account in the period in which they are payable. |
2. Property, plant and equipment |
Computer and |
IT Equipment |
Motor Vehicles
120,019
21,443
1,926
96,650
96,650
1,926
21,443
120,019
Provision for depreciation and impairment |
78,037
20,570
843
56,624
Charge for year
10,495
218
271
10,006
88,532
20,788
1,114
66,630
30,020
812
655
31,487
40,026
1,083
873
41,982
4 of 6
For the year ended 31 January 2024
Eiken Contract Services Ltd
Notes to the Financial Statements Continued
3. Investments held as fixed assets |
3,486
3,486
3,486
3,486
3,486
3,486
3,486
3,486
4. Trade and other receivables |
2023
2024
211,819
229,283
62,876
66,866
296,149
274,695
5. Trade and other payables: amounts falling due within one year |
2023
2024
10,000
10,000
135,139
190,821
Taxation and social security |
100,782
102,236
63,344
66,901
309,265
369,958
6. Trade and other payables: amounts falling due after more than one year |
2023
2024
19,167
29,167
3,699
11,964
22,866
41,131
5 of 6
For the year ended 31 January 2024
Eiken Contract Services Ltd
Notes to the Financial Statements Continued
7. Average number of persons employed |
During the year the average number of employees was 7 (2023 : 10)
6 of 6