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REGISTERED NUMBER: 03328057










Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Engineering Services Partnership Limited

Engineering Services Partnership Limited (Registered number: 03328057)






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


Engineering Services Partnership Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Philip John Graham-Clare
James Peter Graham-Clare
Darryl David Kent
Alistair Scott Mclean
Andrew Pollard
Iain Keith Powell





SECRETARY: Peter Alan Runting





REGISTERED OFFICE: Interchange 1st Floor
81 - 85 Station Road
Croydon
CR0 2RD





REGISTERED NUMBER: 03328057





ACCOUNTANTS: Ramon Lee Ltd
93 Tabernacle Street
London
EC2A 4BA

Engineering Services Partnership Limited (Registered number: 03328057)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 17,646 26,360

CURRENT ASSETS
Debtors 5 1,032,170 1,040,203
Cash at bank 268,625 353,943
1,300,795 1,394,146
CREDITORS
Amounts falling due within one year 6 (764,653 ) (899,063 )
NET CURRENT ASSETS 536,142 495,083
TOTAL ASSETS LESS CURRENT
LIABILITIES

553,788

521,443

CAPITAL AND RESERVES
Called up share capital 7 40,050 40,050
Retained earnings 8 513,738 481,393
553,788 521,443

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.

Engineering Services Partnership Limited (Registered number: 03328057)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2024 and were signed on its behalf by:





Philip John Graham-Clare - Director


Engineering Services Partnership Limited (Registered number: 03328057)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Engineering Services Partnership 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 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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

CASH AND CASH EQUIVALENTS
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements ,when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BASIC FINANCIAL ASSETS

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Engineering Services Partnership Limited (Registered number: 03328057)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

CLASSIFICATION OF FINANCIAL LIABILITIES
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

BASIC FINANCIAL LIABILITIES

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

EQUITY INSTRUMENTS
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

GOING CONCERN

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements

EMPLOYEE BENEFIT

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - NIL ) .

Engineering Services Partnership Limited (Registered number: 03328057)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 7,775 7,204 97,077 112,056
Additions - - 2,014 2,014
At 31 March 2024 7,775 7,204 99,091 114,070
DEPRECIATION
At 1 April 2023 7,393 2,657 75,646 85,696
Charge for year 382 720 9,626 10,728
At 31 March 2024 7,775 3,377 85,272 96,424
NET BOOK VALUE
At 31 March 2024 - 3,827 13,819 17,646
At 31 March 2023 382 4,547 21,431 26,360

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 762,204 835,973
Amounts due from related undertakings - 18,711
Other debtors 20,133 7,028
Prepayments and accrued income 249,833 178,491
1,032,170 1,040,203

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 140,501 49,584
Amounts due to related undertakings - 174,482
Pensions Control - 132
Corporation tax 61,291 51,922
PAYE/NI liability 61,299 36,790
NHI Control - 33,286
VAT 169,907 218,344
Other creditors 511 10,967
Accruals and deferred income 331,144 323,556
764,653 899,063

Engineering Services Partnership Limited (Registered number: 03328057)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CALLED UP SHARE CAPITAL

Issued and fully paid
2024 2023
No £    No £   
A' Ordinary shares of £1 each 40,050 40,050 40,050 40,050
40,050 40,050 40,050 40,050

Class A shareholders have equal voting rights and share in dividends as proposed by the Directors in respect of distributions on the winding up of the company.

8. RESERVES

Profit & loss reserves481,393
Dividend declared during the year(131,364)
Current year Profit & loss reserves163,709
Cumulative profit and loss net of distributions to owners513,738

9. COMMITMENTS UNDER OPERATING LEASES

The Company has entered into non-cancellable operating leases in relation to various properties ranging from two to ten years duration. The total future minimum lease payments are as follows:-

20242023

Land
&Buildings
Land
&Buildings
£   £   
Amounts due
Within 1 year-14,000
Within 2 to 5 years-3,600
-17,600

Engineering Services Partnership Limited (Registered number: 03328057)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. RELATED PARTY DISCLOSURES

During the year the following transactions took place in the normal course of business.




2024


Sales in the
year


Purchases in
the year

Management
charges
payable
Amounts due
from/(to) at the
end of the
accounting period

Henry Riley LLP 39,078 814,816 271,000 (113,015 )
Nidus Riley Ltd 2,820 632,763 - -

The transactions in the previous year and the balances at 31 March 2023 were as follows:-




2023


Sales in the
year


Purchases in
the year

Management
charges
payable
Amounts due
from/(to) at the
end of the
accounting period

Henry Riley LLP 42,666 844,572 221,500 (102,973 )
Nidus Riley Ltd - 275,204 - (52,798 )

The above entities have common directors/members with Engineering Services Partnership Ltd.

During the year Henry Riley LLP ceased to be a related party.The amounts due to Henry Riley LLP summarised above are therefore included in Trade Creditors.

11. RETIREMENT BENEFITS

The company operates a defined contribution pension scheme whose assets are held separately from those of the company in an independently administered fund. No contributions were outstanding at the year end. The pension cost charge represents the contributions payable by the company to the above scheme and other staff personal pension plans and amounted to £168,052 (2023 - £170,093).

12. TRANSACTIONS WITH DIRECTORS

During the year the directors received dividends totalling £74,354(2023-£238,297).

13. CONTROL

No party has overall control of the company.