Registered number
04945301
Euromech Systems Ltd
Filleted Accounts
31 March 2024
Euromech Systems Ltd
Registered number: 04945301
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 25 90
Cash at bank and in hand 25,937 40,891
25,962 40,981
Creditors: amounts falling due within one year 4 (1,663) (2,934)
Net current assets 24,299 38,047
Total assets less current liabilities 24,299 38,047
Creditors: amounts falling due after more than one year 5 (420) (3,909)
Net assets 23,879 34,138
Capital and reserves
Called up share capital 1 1
Profit and loss account 23,878 34,137
Shareholder's funds 23,879 34,138
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
R A Dillon
Director
Approved by the board on 14 October 2024
Euromech Systems Ltd
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.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Debtors 2024 2023
£ £
Trade debtors 25 90
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 723 1,994
Other creditors 940 940
1,663 2,934
5 Creditors: amounts falling due after one year 2024 2023
£ £
Directors Loan Account 420 3,909
6 Other information
Euromech Systems Ltd is a private company limited by shares and incorporated in England. Its registered office is:
14 Park Avenue
Keymer
Hassocks
West Sussex
BN6 8LT
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