2023-05-012024-04-302024-04-30false03359070ENGINERATE 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ENGINERATE LIMITED

Registered Number
03359070
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

ENGINERATE LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

CARTHY, Kieran

Company Secretary

CARTHY, Louise

Registered Address

Piccadilly Business Centre
Blackett Street
Manchester
M12 6AE

Registered Number

03359070 (England and Wales)
ENGINERATE LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets327,34535,048
27,34535,048
Current assets
Stocks41,760-
Debtors514,05624,084
Cash at bank and on hand4,2996,725
20,11530,809
Creditors amounts falling due within one year6(30,963)(32,005)
Net current assets (liabilities)(10,848)(1,196)
Total assets less current liabilities16,49733,852
Creditors amounts falling due after one year7(8,345)(18,949)
Provisions for liabilities9(5,195)(6,659)
Net assets2,9578,244
Capital and reserves
Called up share capital11
Profit and loss account2,9568,243
Shareholders' funds2,9578,244
The financial statements were approved and authorised for issue by the Director on 20 August 2024, and are signed on its behalf by:
CARTHY, Kieran
Director
Registered Company No. 03359070
ENGINERATE LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Land and buildings25
Vehicles25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 May 2323,58333,6214,34261,546
Additions--1,1951,195
At 30 April 2423,58333,6215,53762,741
Depreciation and impairment
At 01 May 2315,3598,9312,20826,498
Charge for year2,0556,1736708,898
At 30 April 2417,41415,1042,87835,396
Net book value
At 30 April 246,16918,5172,65927,345
At 30 April 238,22424,6902,13435,048
4.Stocks

2024

2023

££
Work in progress1,760-
Total1,760-
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables11,83122,254
Prepayments and accrued income2,2251,830
Total14,05624,084
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.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables312207
Taxation and social security14,75914,461
Finance lease and HP contracts10,60512,660
Other creditors5,2874,677
Total30,96332,005
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.
7.Creditors: amounts due after one year

2024

2023

££
Other creditors8,34518,949
Total8,34518,949
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts8,34518,949
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)5,1956,659
Total5,1956,659