Company Registration No. 12257462 (England and Wales)
The Equipment Calibration Business Ltd
Unaudited accounts
for the year ended 31 March 2024
The Equipment Calibration Business Ltd
Unaudited accounts
Contents
The Equipment Calibration Business Ltd
Company Information
for the year ended 31 March 2024
Directors
Mr D.A. Castle
Mr P. Green
Mr R. Harper
Company Number
12257462 (England and Wales)
Registered Office
1a Golf Link Villas
The Common
Downley
High Wycombe
Buckinghamshire
HP13 5YH
England
Accountants
Stephen Beard Accountancy Services
10 Cheshire Road
Thame
Oxon
OX9 3LQ
The Equipment Calibration Business Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
16,535
12,333
Cash at bank and in hand
69,686
78,012
Creditors: amounts falling due within one year
(76,445)
(111,957)
Net current assets
79,099
54,451
Total assets less current liabilities
95,634
66,784
Creditors: amounts falling due after more than one year
(7,000)
(13,000)
Provisions for liabilities
Deferred tax
(3,142)
(2,343)
Called up share capital
100
100
Profit and loss account
85,392
51,341
Shareholders' funds
85,492
51,441
For the year ending 31 March 2024 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 31 October 2024 and were signed on its behalf by
Mr D.A. Castle
Director
Company Registration No. 12257462
The Equipment Calibration Business Ltd
Notes to the Accounts
for the year ended 31 March 2024
The Equipment Calibration Business Ltd is a private company, limited by shares, registered in England and Wales, registration number 12257462. The registered office is 1a Golf Link Villas, The Common, Downley, High Wycombe, Buckinghamshire, HP13 5YH, England.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Plant & machinery
20% Straight line basis
Fixtures & fittings
20% Straight line basis
Computer equipment
20% Straight line basis
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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The Equipment Calibration Business Ltd
Notes to the Accounts
for the year ended 31 March 2024
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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
19,606
1,465
3,502
24,573
Additions
8,951
632
274
9,857
At 31 March 2024
28,557
2,097
3,776
34,430
At 1 April 2023
10,803
409
1,028
12,240
Charge for the year
4,595
319
741
5,655
At 31 March 2024
15,398
728
1,769
17,895
At 31 March 2024
13,159
1,369
2,007
16,535
At 31 March 2023
8,803
1,056
2,474
12,333
Amounts falling due within one year
Trade debtors
64,541
75,510
Accrued income and prepayments
9,072
2,425
Other debtors
10,995
9,511
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
6,000
6,000
Trade creditors
20,117
49,724
Taxes and social security
12,421
14,926
Other creditors
24,783
24,783
Loans from directors
5,458
5,458
The Equipment Calibration Business Ltd
Notes to the Accounts
for the year ended 31 March 2024
7
Creditors: amounts falling due after more than one year
2024
2023
This facility is supported by the Bounce Back Loan Scheme (BBLS). The lender has a guarantee from the UK Government under BBLS.
8
Deferred taxation
2024
2023
Accelerated capital allowances
3,142
2,343
Provision at start of year
2,343
2,970
Charged/(credited) to the profit and loss account
799
(627)
Provision at end of year
3,142
2,343
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Operating lease commitments
2024
2023
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
1,604
3,849
Later than one year and not later than five years
-
1,604
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's loan account
6,500
1,892
510
7,882
11
Transactions with related parties
Loans from related companies £17,391 (2023 - £17,391). These loans are repayable on demand.
Loans from directors and shareholders £12,849 (2023 - £12,849). These loan are repayable on demand.
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Average number of employees
During the year the average number of employees was 2 (2023: 1).