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Company Registration No. 09786496 (England and Wales)
Eirotech Engineering Limited Unaudited accounts for the year ended 30 September 2023
Eirotech Engineering Limited Unaudited accounts Contents
Page
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Eirotech Engineering Limited Company Information for the year ended 30 September 2023
Directors
D S Axinte G G Quinn K Quinn L Quinn
Company Number
09786496 (England and Wales)
Registered Office
123 Cross Lane East Gravesend Kent DA12 5HA
Accountants
King & Taylor 123 Cross Lane East Gravesend Kent DA12 5HA
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Eirotech Engineering Limited Statement of financial position as at 30 September 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
21,653 
29,261 
Current assets
Debtors
2,301,812 
2,082,654 
Cash at bank and in hand
7,150 
210,615 
2,308,962 
2,293,269 
Creditors: amounts falling due within one year
(206,945)
(146,338)
Net current assets
2,102,017 
2,146,931 
Net assets
2,123,670 
2,176,192 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
2,123,570 
2,176,092 
Shareholders' funds
2,123,670 
2,176,192 
For the year ending 30 September 2023 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by
G G Quinn Director Company Registration No. 09786496
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Eirotech Engineering Limited Notes to the Accounts for the year ended 30 September 2023
1
Statutory information
Eirotech Engineering Limited is a private company, limited by shares, registered in England and Wales, registration number 09786496. The registered office is 123 Cross Lane East, Gravesend, Kent, DA12 5HA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance basis
Computer equipment
5 year straight line basis
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
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Eirotech Engineering Limited Notes to the Accounts for the year ended 30 September 2023
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 October 2022
80,958 
4,016 
84,974 
At 30 September 2023
80,958 
4,016 
84,974 
Depreciation
At 1 October 2022
53,741 
1,972 
55,713 
Charge for the year
6,804 
804 
7,608 
At 30 September 2023
60,545 
2,776 
63,321 
Net book value
At 30 September 2023
20,413 
1,240 
21,653 
At 30 September 2022
27,217 
2,044 
29,261 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
138,491 
194,231 
Other debtors
2,163,321 
1,888,423 
2,301,812 
2,082,654 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
197,768 
125,011 
Other creditors
- 
11,119 
Loans from directors
- 
9,187 
Accruals
9,177 
1,021 
206,945 
146,338 
7
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
D S Axinte
Director
183,845 
3,520 
- 
187,365 
G G Quinn
Director
33,144 
663 
- 
33,807 
K Quinn
Director
12,225 
- 
12,225 
- 
229,214 
4,183 
12,225 
221,172 
8
Transactions with related parties
Included within other debtors is the sum of £1,747,538 (2022 - £1,550,000) due from KGLC Trust Limited (673262, a company registered in Ireland), a company controlled by K Quinn, G Quinn and L Quinn.
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Eirotech Engineering Limited Notes to the Accounts for the year ended 30 September 2023
9
Average number of employees
During the year the average number of employees was 0 (2022: 8).
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