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Registration number: 01712762

E.C.S.G. Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

E.C.S.G. Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

E.C.S.G. Limited

(Registration number: 01712762)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

41,606

18,081

Current assets

 

Stocks

5

42,648

54,957

Debtors

6

1,715,955

1,718,413

Cash at bank and in hand

 

777,822

7,124

 

2,536,425

1,780,494

Creditors: Amounts falling due within one year

7

(1,413,776)

(1,088,962)

Net current assets

 

1,122,649

691,532

Total assets less current liabilities

 

1,164,255

709,613

Creditors: Amounts falling due after more than one year

7

(11,953)

(35,294)

Provisions for liabilities

(9,785)

(3,922)

Net assets

 

1,142,517

670,397

Capital and reserves

 

Called up share capital

25,000

25,000

Capital redemption reserve

5,000

5,000

Retained earnings

1,112,517

640,397

Shareholders' funds

 

1,142,517

670,397

 

E.C.S.G. Limited

(Registration number: 01712762)
Balance Sheet as at 30 September 2024

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 November 2024 and signed on its behalf by:
 

J L Birch
Director

   
     
 

E.C.S.G. Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
30 Garrett Road
Yeovil
Somerset
BA20 2TJ

These financial statements were authorised for issue by the Board on 13 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Revenue recognition

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 sales/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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

E.C.S.G. Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold property improvements

10% straight line

Plant and machinery

25% reducing balance

Fixtures and fittings

25% reducing balance

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

E.C.S.G. Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

E.C.S.G. Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 67 (2023 - 65).

4

Tangible assets

Leasehold property improvements
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

29,783

72,390

29,534

24,905

156,612

Additions

-

-

4,347

39,000

43,347

Disposals

-

-

(2,251)

(24,905)

(27,156)

At 30 September 2024

29,783

72,390

31,630

39,000

172,803

Depreciation

At 1 October 2023

29,783

70,198

19,313

19,238

138,532

Charge for the year

-

549

3,642

10,222

14,413

Eliminated on disposal

-

-

(2,038)

(19,710)

(21,748)

At 30 September 2024

29,783

70,747

20,917

9,750

131,197

Carrying amount

At 30 September 2024

-

1,643

10,713

29,250

41,606

At 30 September 2023

-

2,193

10,221

5,667

18,081

5

Stocks

2024
£

2023
£

Other inventories

42,648

54,957

 

E.C.S.G. Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

1,628,996

1,615,979

Amounts owed by related parties

9

1,218

2,453

Other debtors

 

-

9,306

Prepayments

 

85,741

90,675

 

1,715,955

1,718,413

7

Creditors

Due within one year

Note

2024
£

2023
£

 

Loans and borrowings

8

25,369

172,920

Trade creditors

 

772,385

558,728

Amounts due to related parties

9

35

11,256

Social security and other taxes

 

99,257

67,207

Other creditors

 

115,393

127,577

Accruals

 

220,846

96,330

Corporation tax liability

180,491

54,944

 

1,413,776

1,088,962

Due after one year

 

Loans and borrowings

8

11,953

35,294

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

35,294

Hire purchase contracts

11,953

-

11,953

35,294

 

E.C.S.G. Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

35,294

Bank overdrafts

17,288

137,626

Hire purchase contracts

8,081

-

25,369

172,920

Hire purchase contracts

The hire purchase is secured against the asset to which it relates.

9

Related party transactions

Transactions with directors

2024

At 1 October 2023
£

Advances to director
£

Repayments by director
£

At 30 September 2024
£

Loans to directors

2,453

6,733

(7,968)

1,218

 

2023

At 1 August 2022
£

Advances to director
£

Repayments by director
£

At 30 September 2023
£

Loans to directors

788

4,357

(2,692)

2,453

 

Loans from related parties

2024

Key management
£

Total
£

At start of period

11,256

11,256

Advanced

3,521

3,521

Repaid

(14,742)

(14,742)

At end of period

35

35

2023

Key management
£

Total
£

At start of period

13,644

13,644

Advanced

1,242

1,242

Repaid

(3,630)

(3,630)

At end of period

11,256

11,256

 

E.C.S.G. Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Terms of loans from related parties

The loans are interest free and repayable on demand