Engineering Solutions And Supply Limited 02672482 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is the manufacture of mechanical engineering components and the distribution thereof Digita Accounts Production Advanced 6.30.9574.0 true true 02672482 2023-10-01 2024-09-30 02672482 2024-09-30 02672482 core:CapitalRedemptionReserve 2024-09-30 02672482 core:RetainedEarningsAccumulatedLosses 2024-09-30 02672482 core:ShareCapital 2024-09-30 02672482 core:CurrentFinancialInstruments 2024-09-30 02672482 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 02672482 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 02672482 core:BetweenTwoFiveYears 2024-09-30 02672482 core:WithinOneYear 2024-09-30 02672482 core:FurnitureFittingsToolsEquipment 2024-09-30 02672482 core:LandBuildings 2024-09-30 02672482 core:MotorVehicles 2024-09-30 02672482 core:OtherPropertyPlantEquipment 2024-09-30 02672482 bus:SmallEntities 2023-10-01 2024-09-30 02672482 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 02672482 bus:FilletedAccounts 2023-10-01 2024-09-30 02672482 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 02672482 bus:RegisteredOffice 2023-10-01 2024-09-30 02672482 bus:Director4 2023-10-01 2024-09-30 02672482 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 02672482 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 02672482 core:LandBuildings 2023-10-01 2024-09-30 02672482 core:LeaseholdImprovements 2023-10-01 2024-09-30 02672482 core:MotorCars 2023-10-01 2024-09-30 02672482 core:MotorVehicles 2023-10-01 2024-09-30 02672482 core:OtherPropertyPlantEquipment 2023-10-01 2024-09-30 02672482 1 2023-10-01 2024-09-30 02672482 countries:England 2023-10-01 2024-09-30 02672482 2023-09-30 02672482 core:FurnitureFittingsToolsEquipment 2023-09-30 02672482 core:LandBuildings 2023-09-30 02672482 core:MotorVehicles 2023-09-30 02672482 core:OtherPropertyPlantEquipment 2023-09-30 02672482 2022-10-01 2023-09-30 02672482 2023-09-30 02672482 core:CapitalRedemptionReserve 2023-09-30 02672482 core:RetainedEarningsAccumulatedLosses 2023-09-30 02672482 core:ShareCapital 2023-09-30 02672482 core:CurrentFinancialInstruments 2023-09-30 02672482 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 02672482 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 02672482 core:BetweenTwoFiveYears 2023-09-30 02672482 core:WithinOneYear 2023-09-30 02672482 core:FurnitureFittingsToolsEquipment 2023-09-30 02672482 core:LandBuildings 2023-09-30 02672482 core:MotorVehicles 2023-09-30 02672482 core:OtherPropertyPlantEquipment 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 02672482

Engineering Solutions And Supply Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Engineering Solutions And Supply Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Engineering Solutions And Supply Limited

(Registration number: 02672482)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

879,198

953,426

Current assets

 

Stocks

5

140,000

200,000

Debtors

6

1,875,162

955,540

Cash at bank and in hand

 

22,827

137,220

 

2,037,989

1,292,760

Creditors: Amounts falling due within one year

7

(845,804)

(346,689)

Net current assets

 

1,192,185

946,071

Total assets less current liabilities

 

2,071,383

1,899,497

Creditors: Amounts falling due after more than one year

7

(129,661)

(223,810)

Provisions for liabilities

(205,133)

(217,856)

Net assets

 

1,736,589

1,457,831

Capital and reserves

 

Called up share capital

1,200

1,200

Capital redemption reserve

500

500

Retained earnings

1,734,889

1,456,131

Shareholders' funds

 

1,736,589

1,457,831

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.

Director's 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 director acknowledges his 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.

 

Engineering Solutions And Supply Limited

(Registration number: 02672482)
Balance Sheet as at 30 September 2024

Approved and authorised by the director on 6 March 2025
 

.........................................
N P Hutt
Director

 

Engineering Solutions And Supply 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:
Suite 2 Healey House
Dene Road
Andover
Hampshire
SP10 2AA

These financial statements were authorised for issue by the director on 6 March 2025.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

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.

Government grants

Government grants in relation to tangible fixed asset are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.

 

Engineering Solutions And Supply Limited

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

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.

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

Furniture,fittings and equipment

33% Straight line

Motor Vehicles

25% Reducing balance

Plant and equipment

8.33-20% Straight line

Leasehold Improvements

10-20% Straight line

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.

Trade 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

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.

 

Engineering Solutions And Supply Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

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.

 

Engineering Solutions And Supply Limited

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

Financial instruments


Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 15 (2023 - 16).

 

Engineering Solutions And Supply Limited

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

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2023

151,419

119,285

86,415

1,885,256

2,242,375

Additions

3,600

8,667

22,989

256,210

291,466

Disposals

-

-

(31,735)

(205,000)

(236,735)

At 30 September 2024

155,019

127,952

77,669

1,936,466

2,297,106

Depreciation

At 1 October 2023

106,830

111,589

74,675

995,855

1,288,949

Charge for the year

15,888

6,235

(926)

148,515

169,712

Eliminated on disposal

-

-

(23,670)

(17,083)

(40,753)

At 30 September 2024

122,718

117,824

50,079

1,127,287

1,417,908

Carrying amount

At 30 September 2024

32,301

10,128

27,590

809,179

879,198

At 30 September 2023

44,589

7,696

11,740

889,401

953,426

 

Engineering Solutions And Supply Limited

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

5

Stocks

2024
£

2023
£

Work in progress

50,000

70,000

Finished goods and goods for resale

45,000

60,000

Other inventories

45,000

70,000

140,000

200,000

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

365,074

336,069

Amounts owed by related parties

1,297,204

560

Prepayments

 

6,052

6,073

Other debtors

 

206,832

612,838

   

1,875,162

955,540

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

232,597

114,327

Trade creditors

 

109,802

106,102

Taxation and social security

 

468,857

116,649

Accruals and deferred income

 

34,548

9,611

 

845,804

346,689

Creditors include net obligations under finance lease and hire purchase contracts which are secured by certain plant and machinery of £103,670(2023 - £114,327).

Sme Invoice Finance Limited hold a fixed, floating charge & negative pledge over the assets of the company.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

129,661

223,810

Creditors include net obligations under finance lease and hire purchase contracts which are secured by certain plant and machinery of £129,661 (2023 - £223,810)

 

Engineering Solutions And Supply Limited

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

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

58,625

47,750

Later than one year and not later than five years

155,032

191,000

213,657

238,750

The amount of non-cancellable operating lease payments recognised as an expense during the year was £67,033 (2023 - £54,240).

9

Parent and ultimate parent undertaking

The company's immediate parent is Engsol Group Ltd, incorporated in England.

  These financial statements are available upon request from Suite 2, Healey House, Dene Road, Andover, Hampshire, United Kingdom, SP10 2AA