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REGISTERED NUMBER: 00723927 (England and Wales)













E.S.L. ENGINEERS (BASILDON) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






E.S.L. ENGINEERS (BASILDON) LIMITED (REGISTERED NUMBER: 00723927)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


E.S.L. ENGINEERS (BASILDON) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: R O Jeremy
D M Perry
D A Rogers





SECRETARY: Mrs C L Welsford





REGISTERED OFFICE: 255 Green Lanes
Palmers Green
London
N13 4XE





REGISTERED NUMBER: 00723927 (England and Wales)





ACCOUNTANTS: John Crook & Partners
Chartered Accountants
255 Green Lanes
Palmers Green
London
N13 4XE

E.S.L. ENGINEERS (BASILDON) LIMITED (REGISTERED NUMBER: 00723927)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 715,329 837,150

CURRENT ASSETS
Stocks 75,800 29,555
Debtors 5 1,365,465 1,996,620
Cash at bank and in hand 70,389 98,969
1,511,654 2,125,144
CREDITORS
Amounts falling due within one year 6 819,394 1,260,627
NET CURRENT ASSETS 692,260 864,517
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,407,589

1,701,667

CREDITORS
Amounts falling due after more than one
year

7

(214,293

)

(305,967

)

PROVISIONS FOR LIABILITIES 9 (168,717 ) (196,950 )
NET ASSETS 1,024,579 1,198,750

CAPITAL AND RESERVES
Called up share capital 10 4,467 4,467
Retained earnings 11 1,020,112 1,194,283
SHAREHOLDERS' FUNDS 1,024,579 1,198,750

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

E.S.L. ENGINEERS (BASILDON) LIMITED (REGISTERED NUMBER: 00723927)

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:




R O Jeremy - Director D M Perry - Director




D A Rogers - Director


E.S.L. ENGINEERS (BASILDON) LIMITED (REGISTERED NUMBER: 00723927)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

E.S.L. Engineers (Basildon) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value of work invoiced to customers, excluding value added tax plus the value of work done but not invoiced on contracts, including attributable profit.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15%-25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account as incurred.

E.S.L. ENGINEERS (BASILDON) LIMITED (REGISTERED NUMBER: 00723927)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates defined contribution pension schemes. The assets of the schemes are held separately from those of the company in independently administered funds. Contributions payable for the year are charged in the profit and loss account.

Amounts recoverable on contracts
Amounts recoverable on contacts represent turnover which has not yet been invoiced to clients. Such amounts are separately disclosed within debtors. The valuation of amounts recoverable on contracts is adjusted to to take into account foreseeable losses on these contracts

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2022 - 34 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 January 2023 2,443,559 201,618 2,645,177
Additions 11,274 - 11,274
At 31 December 2023 2,454,833 201,618 2,656,451
DEPRECIATION
At 1 January 2023 1,671,769 136,258 1,808,027
Charge for year 116,826 16,269 133,095
At 31 December 2023 1,788,595 152,527 1,941,122
NET BOOK VALUE
At 31 December 2023 666,238 49,091 715,329
At 31 December 2022 771,790 65,360 837,150

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 549,245 975,030
Amounts owed by group undertakings 367,688 543,705
Amounts recoverable on contracts 400,111 428,746
Other debtors 5,586 5,000
Prepayments 42,835 44,139
1,365,465 1,996,620

E.S.L. ENGINEERS (BASILDON) LIMITED (REGISTERED NUMBER: 00723927)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 99,439 75,483
Trade creditors 124,665 219,133
Amounts owed to group undertakings 332,183 558,732
Tax 55,294 106,128
Social security and other taxes 35,324 49,315
Value added tax 90,763 101,156
Directors' loan accounts - 50,000
Sundry creditors and accruals 81,726 100,680
819,394 1,260,627

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 99,439 85,638
Bank loans - 2-5 years 114,854 220,329
214,293 305,967

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 313,732 381,450

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Capital allowances in excess of depreciation 168,717 196,950

Deferred
tax
£   
Balance at 1 January 2023 196,950
Provided during year (28,233 )
Profit and Loss account
Balance at 31 December 2023 168,717

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
4,467 Ordinary shares 1 4,467 4,467

E.S.L. ENGINEERS (BASILDON) LIMITED (REGISTERED NUMBER: 00723927)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

11. RESERVES
Retained
earnings
£   

At 1 January 2023 1,194,283
Profit for the year 507,789
Dividends (681,960 )
At 31 December 2023 1,020,112

12. OTHER FINANCIAL COMMITMENTS

The company has entered into a cross guarantee with its parent company to secure its bank overdraft and borrowings.

13. RELATED PARTY DISCLOSURES

ESL (Basildon) Holdings Limited
An associated company.

The company pays the rent to the company £225,000 (2022 - £225,000) as the company acquired the building.

The company paid no management fees to the company (2021 - £nil).

At the year-end £367,688 (2022: £518,245) was due from the company.

Robert Pringle Engineers Ltd
A group company.

The company received management charges from the company of £127,127 (2022 - £137,129).

At the year-end £nil (2022: £25,460) was due from the company.

ESL Partnership Limited
The parent company.

The company paid dividends during the year to that company of £681,960 (2022 - £530,059).

At the year-end £332,183 (2022: £558,732) was due to the company

14. ULTIMATE CONTROLLING PARTY

The controlling party is ESL Partnership Limited.

The group is controlled by BD Townsend and his wife Mrs JC Townsend