Registered number
07187175
Energy Services (Midlands) Ltd
Report and Accounts
31 March 2024
Accountancy 4 Success Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Energy Services (Midlands) Ltd
Registered number: 07187175
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 8,530 14,112
Current assets
Debtors 5 17,491 13,119
Cash at bank and in hand 2,686 4,077
20,177 17,196
Creditors: amounts falling due within one year 6 (25,732) (26,563)
Net current liabilities (5,555) (9,367)
Total assets less current liabilities 2,975 4,745
Provisions for liabilities (2,133) (3,528)
Net assets 842 1,217
Capital and reserves
Called up share capital 2 2
Profit and loss account 840 1,215
Shareholders' funds 842 1,217
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K Oliver
Director
Approved by the board on 31 July 2024
Energy Services (Midlands) Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance & 10% straight line
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 10,000
At 31 March 2024 10,000
Amortisation
At 1 April 2023 10,000
At 31 March 2024 10,000
Net book value
At 31 March 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 29,054 19,700 48,754
Disposals (450) (19,700) (20,150)
At 31 March 2024 28,604 - 28,604
Depreciation
At 1 April 2023 17,572 17,070 34,642
Charge for the year 2,722 - 2,722
On disposals (220) (17,070) (17,290)
At 31 March 2024 20,074 - 20,074
Net book value
At 31 March 2024 8,530 - 8,530
At 31 March 2023 11,482 2,630 14,112
5 Debtors 2024 2023
£ £
Trade debtors 9,159 7,683
Other debtors 8,332 5,436
17,491 13,119
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 202
Corporation tax 10,693 11,845
Other taxes and social security costs 3,295 5,424
Other creditors 11,744 9,092
25,732 26,563
7 Related party transactions
As at the year end the Director owed the company £8,332. This was repaid within 9 months.
8 Controlling party
The company is controlled by its directors who are the shareholders.
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