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REGISTERED NUMBER: SC195222 (Scotland)













Unaudited Financial Statements

for the Year Ended 30 April 2024

for

ENGINEERING TOOLS & CONSUMABLES LIMITED

ENGINEERING TOOLS & CONSUMABLES LIMITED (REGISTERED NUMBER: SC195222)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ENGINEERING TOOLS & CONSUMABLES LIMITED

Company Information
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mrs E P Stevenson
C A Stevenson
Mrs L Parker
D C Parker





SECRETARY: Mrs L Parker





REGISTERED OFFICE: 6th Floor, Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC195222 (Scotland)





ACCOUNTANTS: BK Plus Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

ENGINEERING TOOLS & CONSUMABLES LIMITED (REGISTERED NUMBER: SC195222)

Balance Sheet
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 451,131 437,511
451,131 437,511

CURRENT ASSETS
Stocks 6 842,276 702,179
Debtors 7 768,005 862,058
Cash at bank and in hand 529,265 302,450
2,139,546 1,866,687
CREDITORS
Amounts falling due within one year 8 1,438,082 1,206,636
NET CURRENT ASSETS 701,464 660,051
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,152,595

1,097,562

CREDITORS
Amounts falling due after more than one
year

9

(33,179

)

(78,831

)

PROVISIONS FOR LIABILITIES (90,013 ) (85,064 )
NET ASSETS 1,029,403 933,667

ENGINEERING TOOLS & CONSUMABLES LIMITED (REGISTERED NUMBER: SC195222)

Balance Sheet - continued
30 APRIL 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 4 4
Retained earnings 1,029,299 933,563
SHAREHOLDERS' FUNDS 1,029,403 933,667

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 28 January 2025 and were signed on its behalf by:





Mrs E P Stevenson - Director


ENGINEERING TOOLS & CONSUMABLES LIMITED (REGISTERED NUMBER: SC195222)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Engineering Tools & Consumables Limited is a private company, limited by shares , registered in Scotland. 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 represents the amounts derived from the provision of goods and services which fall within the company's ordinary activities and is stated net of Value Added Tax. Revenue is recognised on despatch of goods.

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 monthly rates in order to write off each asset over its estimated useful life.


Improvements to property-4% on cost
Plant and machinery-10% on a reducing balance basis
Fixtures and fittings-10% on a reducing balance basis
Motor vehicles-25% on a reducing balance basis
Computer equipment-25% on a reducing balance basis
Short leasehold-33.3% on cost

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 balance sheet date.


ENGINEERING TOOLS & CONSUMABLES LIMITED (REGISTERED NUMBER: SC195222)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 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.

Foreign currencies
Income and expenditure in foreign currencies is converted to Sterling at rates approximating to those ruling at the date of each transaction. Assets and liabilities denominated in foreign currencies are translated into Sterling at the rates ruling at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 51 (2023 - 51 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 14,000
AMORTISATION
At 1 May 2023
and 30 April 2024 14,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

ENGINEERING TOOLS & CONSUMABLES LIMITED (REGISTERED NUMBER: SC195222)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 May 2023 4,375 107,086 475,941
Additions - - 16,384
Disposals - - -
At 30 April 2024 4,375 107,086 492,325
DEPRECIATION
At 1 May 2023 4,375 31,675 223,471
Charge for year - 4,284 26,113
Eliminated on disposal - - -
At 30 April 2024 4,375 35,959 249,584
NET BOOK VALUE
At 30 April 2024 - 71,127 242,741
At 30 April 2023 - 75,411 252,470

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 62,324 180,889 51,407 882,022
Additions - 56,022 4,174 76,580
Disposals - (40,245 ) - (40,245 )
At 30 April 2024 62,324 196,666 55,581 918,357
DEPRECIATION
At 1 May 2023 37,019 126,643 21,328 444,511
Charge for year 2,519 14,721 7,988 55,625
Eliminated on disposal - (32,910 ) - (32,910 )
At 30 April 2024 39,538 108,454 29,316 467,226
NET BOOK VALUE
At 30 April 2024 22,786 88,212 26,265 451,131
At 30 April 2023 25,305 54,246 30,079 437,511

ENGINEERING TOOLS & CONSUMABLES LIMITED (REGISTERED NUMBER: SC195222)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS - continued

The net book value of the company's fixed assets includes £13,929 (2023 : £18,572) in respect of assets held under finance leases or hire purchase contracts. Depreciation charged on these assets during the year amounted to £4,643 (2023 : £6,194).

6. STOCKS
2024 2023
£    £   
Stock 282,003 306,162
Work-in-progress 560,273 396,017
842,276 702,179

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 630,277 757,891
Other debtors 3,553 3,000
Prepayments and accrued income 134,175 101,167
768,005 862,058

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 53,334 53,333
Hire purchase contracts 11,477 5,999
Trade creditors 428,505 341,466
Current corporation tax 76,825 39,529
Social security and other taxes 117,883 108,639
Deferred grant 4,248 4,248
Directors' current accounts 195,511 159,850
Accruals and deferred income 550,299 493,572
1,438,082 1,206,636

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years - 53,334
Hire purchase contracts 21,713 9,783
Deferred grant 11,466 15,714
33,179 78,831

ENGINEERING TOOLS & CONSUMABLES LIMITED (REGISTERED NUMBER: SC195222)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024

10. SECURED DEBTS

The bank loans and overdraft facilities are secured by standard securities.