Registered number
08218575
Electronic Production Services Limited
Filleted Accounts
31 March 2024
Electronic Production Services Limited
Registered number: 08218575
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 75,791 101,529
Current assets
Stocks 97,684 115,000
Debtors 4 80,923 124,244
Cash at bank and in hand 190,826 167,462
369,433 406,706
Creditors: amounts falling due within one year 5 (114,586) (136,488)
Net current assets 254,847 270,218
Total assets less current liabilities 330,638 371,747
Creditors: amounts falling due after more than one year 6 (87,094) (119,594)
Net assets 243,544 252,153
Capital and reserves
Called up share capital 10 10
Profit and loss account 243,534 252,143
Shareholders' funds 243,544 252,153
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
H K Mancey
Director
Approved by the board on 25 September 2024
Electronic Production Services Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 12
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 262,603
Additions 11,103
At 31 March 2024 273,706
Depreciation
At 1 April 2023 161,074
Charge for the year 36,841
At 31 March 2024 197,915
Net book value
At 31 March 2024 75,791
At 31 March 2023 101,529
4 Debtors 2024 2023
£ £
Trade debtors 60,403 122,239
Other debtors 20,520 2,005
80,923 124,244
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 30,000 27,500
Trade creditors 66,729 62,932
Taxation and social security costs 14,775 42,934
Other creditors 3,082 3,122
114,586 136,488
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 37,500 70,000
Other creditors 49,594 49,594
87,094 119,594
7 Related party transactions
Mr H Mancey is a director of Mancey Ltd who invoiced Electronic Production Services Limited £72,000 in the year (2023 £72,000).
8 Controlling party
The company is under the control of Mr H Mancey and Mrs S Mancey, directors and majority shareholders.
9 Other information
Electronic Production Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Walston House
Elms Road
Hook
Hants
RG27 9DP
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