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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
Page
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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
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The Equipment Calibration Business Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
16,535 
12,333 
Current assets
Inventories
1,250 
950 
Debtors
84,608 
87,446 
Cash at bank and in hand
69,686 
78,012 
155,544 
166,408 
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)
Net assets
85,492 
51,441 
Capital and reserves
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
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The Equipment Calibration Business Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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 taxation
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
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.
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The Equipment Calibration Business Ltd Notes to the Accounts for the year ended 31 March 2024
Leased assets
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.
Pension costs
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.
4
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 
Depreciation
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 
Net book value
At 31 March 2024
13,159 
1,369 
2,007 
16,535 
At 31 March 2023
8,803 
1,056 
2,474 
12,333 
5
Debtors
2024 
2023 
£ 
£ 
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 
84,608 
87,446 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
6,000 
6,000 
VAT
6,795 
7,809 
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 
Accruals
871 
3,257 
76,445 
111,957 
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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 
£ 
£ 
Bank loans
7,000 
13,000 
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 
2024 
2023 
£ 
£ 
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 
9
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 
1,604 
5,453 
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mr R. Harper
Director's loan account
6,500 
1,892 
510 
7,882 
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.
12
Average number of employees
During the year the average number of employees was 2 (2023: 1).
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