69 18 February 2025 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 06065974 2023-10-01 2024-09-30 06065974 2024-09-30 06065974 2023-09-30 06065974 2022-10-01 2023-09-30 06065974 2023-09-30 06065974 2022-09-30 06065974 core:PlantMachinery 2023-10-01 2024-09-30 06065974 core:FurnitureFittings 2023-10-01 2024-09-30 06065974 core:MotorVehicles 2023-10-01 2024-09-30 06065974 bus:Director1 2023-10-01 2024-09-30 06065974 core:LandBuildings core:LongLeaseholdAssets 2023-09-30 06065974 core:PlantMachinery 2023-09-30 06065974 core:FurnitureFittings 2023-09-30 06065974 core:MotorVehicles 2023-09-30 06065974 core:LandBuildings core:LongLeaseholdAssets 2024-09-30 06065974 core:PlantMachinery 2024-09-30 06065974 core:FurnitureFittings 2024-09-30 06065974 core:MotorVehicles 2024-09-30 06065974 core:LandBuildings core:LongLeaseholdAssets 2023-10-01 2024-09-30 06065974 core:WithinOneYear 2024-09-30 06065974 core:WithinOneYear 2023-09-30 06065974 core:ShareCapital 2024-09-30 06065974 core:ShareCapital 2023-09-30 06065974 core:RetainedEarningsAccumulatedLosses 2024-09-30 06065974 core:RetainedEarningsAccumulatedLosses 2023-09-30 06065974 core:LandBuildings core:LongLeaseholdAssets 2023-09-30 06065974 core:PlantMachinery 2023-09-30 06065974 core:FurnitureFittings 2023-09-30 06065974 core:MotorVehicles 2023-09-30 06065974 bus:Director1 2023-09-30 06065974 bus:Director1 2024-09-30 06065974 bus:Director1 2022-09-30 06065974 bus:Director1 2023-09-30 06065974 bus:Director1 2022-10-01 2023-09-30 06065974 bus:SmallEntities 2023-10-01 2024-09-30 06065974 bus:Audited 2023-10-01 2024-09-30 06065974 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 06065974 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 06065974 bus:FullAccounts 2023-10-01 2024-09-30 06065974 core:ComputerEquipment 2023-10-01 2024-09-30 06065974 core:ComputerEquipment 2023-09-30 06065974 core:ComputerEquipment 2024-09-30
COMPANY REGISTRATION NUMBER: 06065974
ECU Testing Ltd
Filleted Financial Statements
30 September 2024
ECU Testing Ltd
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
228,788
285,661
Current assets
Debtors
6
2,127,510
710,173
Cash at bank and in hand
2,959,885
2,615,934
------------
------------
5,087,395
3,326,107
Creditors: amounts falling due within one year
7
835,992
590,126
------------
------------
Net current assets
4,251,403
2,735,981
------------
------------
Total assets less current liabilities
4,480,191
3,021,642
Provisions
38,450
55,988
------------
------------
Net assets
4,441,741
2,965,654
------------
------------
Capital and reserves
Called up share capital
1
1
Profit and loss account
4,441,740
2,965,653
------------
------------
Shareholders funds
4,441,741
2,965,654
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 18 February 2025 , and are signed on behalf of the board by:
Mr R Bagg
Director
Company registration number: 06065974
ECU Testing Ltd
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Lyndhurst, 1 Cranmer Street, Long Eaton, Nottingham, NG10 1NJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue is recognised when payment of a transaction involving the rendering of services has been received.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold improvements
-
Over the term of lease
Plant & machinery
-
25% reducing balance
Fixtures & fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Computer equipment
-
33% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 69 (2023: 68 ).
5. Tangible assets
Long leasehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Computer equipment
Total
£
£
£
£
£
£
Cost
At 1 Oct 2023
352,100
296,913
424,882
168,595
347,153
1,589,643
Additions
3,070
3,620
22,125
8,387
37,202
---------
---------
---------
---------
---------
------------
At 30 Sep 2024
355,170
300,533
447,007
168,595
355,540
1,626,845
---------
---------
---------
---------
---------
------------
Depreciation
At 1 Oct 2023
337,355
257,391
335,815
68,100
305,321
1,303,982
Charge for the year
17,815
10,333
26,603
25,124
14,200
94,075
---------
---------
---------
---------
---------
------------
At 30 Sep 2024
355,170
267,724
362,418
93,224
319,521
1,398,057
---------
---------
---------
---------
---------
------------
Carrying amount
At 30 Sep 2024
32,809
84,589
75,371
36,019
228,788
---------
---------
---------
---------
---------
------------
At 30 Sep 2023
14,745
39,522
89,067
100,495
41,832
285,661
---------
---------
---------
---------
---------
------------
6. Debtors
2024
2023
£
£
Trade debtors
144,634
160,920
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,599,216
413,559
Other debtors
383,660
135,694
------------
---------
2,127,510
710,173
------------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
212,038
141,001
Corporation tax
252,874
167,539
Social security and other taxes
309,837
223,914
Other creditors
61,243
57,672
---------
---------
835,992
590,126
---------
---------
8. Capital commitments
Capital expenditure contracted for but not provided for in the financial statements is as follows:
2024
2023
£
£
Tangible assets
225,000
---------
----
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
20,000
----
--------
10. Summary audit opinion
The auditor's report dated 18 February 2025 was unqualified .
The senior statutory auditor was Peter Stewart FCA , for and on behalf of Gregory Priestley & Stewart .
11. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr R Bagg
105,543
1,247,768
( 1,167,806)
185,505
---------
------------
------------
---------
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr R Bagg
57,520
48,023
105,543
--------
--------
----
---------
Director's loans are interest free and repayable on demand.
12. Controlling party
The company's parent undertaking is R Bagg Limited a company incorporated in England and Wales and whose registered office is situated at Lyndhurst, 1 Cranmer St, Nottingham, NG10 1NJ.