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REGISTERED NUMBER: NI038277 (Northern Ireland)












E.S.L. Engineering Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






E.S.L. Engineering Limited (Registered number: NI038277)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


E.S.L. Engineering Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: Mr S G Elliott
Mrs L M Lane
Mr D Lane



REGISTERED OFFICE: 11 Farranlester Road
Coleraine
Co Londonderry
BT51 3QR



REGISTERED NUMBER: NI038277 (Northern Ireland)



ACCOUNTANTS: Agnew Mitchell & Cairns
184 Rashee Road
Ballyclare
Co. Antrim
BT39 9JB



BANKERS: Danske Bank
22 The Diamond
Coleraine
Londonderry
BT52 1DA

E.S.L. Engineering Limited (Registered number: NI038277)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 704,503 400,756
704,503 400,756

CURRENT ASSETS
Stocks 619,047 545,939
Debtors 6 1,260,929 1,252,492
Cash at bank and in hand 7,235 357,425
1,887,211 2,155,856
CREDITORS
Amounts falling due within one year 7 921,740 858,376
NET CURRENT ASSETS 965,471 1,297,480
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,669,974

1,698,236

CREDITORS
Amounts falling due after more than one
year

8

(223,341

)

(122,880

)

PROVISIONS FOR LIABILITIES (172,341 ) (100,088 )
NET ASSETS 1,274,292 1,475,268

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,273,292 1,474,268
SHAREHOLDERS' FUNDS 1,274,292 1,475,268

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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. Engineering Limited (Registered number: NI038277)

Statement of Financial Position - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 October 2024 and were signed on its behalf by:




Mr S G Elliott - Director



Mr D Lane - Director


E.S.L. Engineering Limited (Registered number: NI038277)

Notes to the Financial Statements
for the year ended 31 March 2024


1. STATUTORY INFORMATION

E.S.L. Engineering Limited is a private company, limited by shares , registered in Northern Ireland. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 33% on cost, 25% on reducing balance and 20% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

E.S.L. Engineering Limited (Registered number: NI038277)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued

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. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 37 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 140,000
AMORTISATION
At 1 April 2023
and 31 March 2024 140,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

E.S.L. Engineering Limited (Registered number: NI038277)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 1,577,952
Additions 481,131
At 31 March 2024 2,059,083
DEPRECIATION
At 1 April 2023 1,177,196
Charge for year 177,384
At 31 March 2024 1,354,580
NET BOOK VALUE
At 31 March 2024 704,503
At 31 March 2023 400,756

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,068,738 1,218,372
Other debtors 192,191 34,120
1,260,929 1,252,492

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 48,181 27,740
Hire purchase contracts (see note 9) 51,062 40,955
Trade creditors 726,178 580,085
Taxation and social security 52,211 190,533
Other creditors 44,108 19,063
921,740 858,376

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 50,251 78,728
Hire purchase contracts (see note 9) 173,090 44,152
223,341 122,880

E.S.L. Engineering Limited (Registered number: NI038277)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 51,062 40,955
Between one and five years 173,090 44,152
224,152 85,107

Non-cancellable operating leases
2024 2023
£    £   
Within one year 1,348 1,861
Between one and five years 1,374 2,722
2,722 4,583

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 16,458 -
Hire purchase contracts 224,152 85,107
240,610 85,107

Danske Bank have a Debenture over the Company incorporating fixed and floating charges.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr S G Elliott
Balance outstanding at start of year 10,287 -
Amounts advanced - 10,287
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 10,287

E.S.L. Engineering Limited (Registered number: NI038277)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs L M Lane
Balance outstanding at start of year 15,597 -
Amounts advanced - 15,597
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 15,597