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REGISTERED NUMBER: 01180474 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

101 ENGINEERING LIMITED

101 ENGINEERING LIMITED (REGISTERED NUMBER: 01180474)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


101 ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J M Wynn
D M Williams
L Kizwini





SECRETARY: D M Williams





REGISTERED OFFICE: Unit 14
Oldends Industrial Estate
Stonedale Road
Stonehouse
Gloucestershire
GL10 3RQ





REGISTERED NUMBER: 01180474 (England and Wales)





ACCOUNTANTS: Randall & Payne LLP
Chartered Accountants
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA

101 ENGINEERING LIMITED (REGISTERED NUMBER: 01180474)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,448 43,670
Investment property 5 455,500 455,500
493,948 499,170

CURRENT ASSETS
Stocks 1,247,461 1,157,653
Debtors 6 907,273 1,354,670
Cash at bank 402,414 250,760
2,557,148 2,763,083
CREDITORS
Amounts falling due within one year 7 481,992 738,927
NET CURRENT ASSETS 2,075,156 2,024,156
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,569,104

2,523,326

PROVISIONS FOR LIABILITIES 54,394 55,699
NET ASSETS 2,514,710 2,467,627

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,514,610 2,467,527
SHAREHOLDERS' FUNDS 2,514,710 2,467,627

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.

101 ENGINEERING LIMITED (REGISTERED NUMBER: 01180474)

BALANCE SHEET - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2024 and were signed on its behalf by:




D M Williams - Director J M Wynn - Director




L Kizwini - Director


101 ENGINEERING LIMITED (REGISTERED NUMBER: 01180474)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

101 Engineering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provision of section 1A "Small entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of Value Added Tax, returns, rebates and discounts.

The company recognises revenue when, the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost

Investment property
Investment property is shown at its most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account.

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

Financial instruments
Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.


101 ENGINEERING LIMITED (REGISTERED NUMBER: 01180474)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Provisions
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

Going concern
The directors' view is that there are no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern;

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 37 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 40,201 254,926 92,834 28,770 416,731
Additions - 6,880 2,754 - 9,634
Disposals - (7,958 ) (1,783 ) (10,280 ) (20,021 )
At 31 March 2024 40,201 253,848 93,805 18,490 406,344
DEPRECIATION
At 1 April 2023 40,191 224,317 79,783 28,770 373,061
Charge for year 10 10,868 3,978 - 14,856
Eliminated on disposal - (7,958 ) (1,783 ) (10,280 ) (20,021 )
At 31 March 2024 40,201 227,227 81,978 18,490 367,896
NET BOOK VALUE
At 31 March 2024 - 26,621 11,827 - 38,448
At 31 March 2023 10 30,609 13,051 - 43,670

101 ENGINEERING LIMITED (REGISTERED NUMBER: 01180474)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 455,500
NET BOOK VALUE
At 31 March 2024 455,500
At 31 March 2023 455,500

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 455,500

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 276,372 276,372

The directors have considered the value of the investment property and concluded that the amount detailed above constitutes the fair value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 862,787 1,328,376
Prepayments 44,486 26,294
907,273 1,354,670

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 145,205 282,396
Corporation Tax 52,770 65,958
Social security and other taxes 18,710 20,225
VAT 83,662 101,862
Other creditors 4,233 7,387
Accrued expenses 177,412 261,099
481,992 738,927