REGISTERED NUMBER: 02548558 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2024

for

Eurolec Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P Wright

K Smith

REGISTERED OFFICE:

Wilton Road

Humberston

Grimsby

North East Lincs

DN36 4AW

REGISTERED NUMBER:

02548558 (England and Wales)

FIXED ASSETS

Tangible assets

4

129,088

137,224

CURRENT ASSETS

Stocks

192,818

438,718

Debtors

5

588,158

1,196,561

Cash at bank and in hand

480,445

555,637

1,261,421

2,190,916

CREDITORS

Amounts falling due within one year

6

185,866

686,975

NET CURRENT ASSETS

1,075,555

1,503,941

TOTAL ASSETS LESS CURRENT LIABILITIES

1,204,643

1,641,165

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

1,203,643

1,640,165

SHAREHOLDERS' FUNDS

1,204,643

1,641,165

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 25 March 2025 and were signed on its behalf by:

P Wright - Director

1.	STATUTORY INFORMATION

Eurolec Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Motor vehicles

-

25% on reducing balance

Stocks

The cost of work in progress comprises direct materials and, where applicable direct labour costs and those overheads that have been incurred in bringing the work in progress to its present location and condition.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Motor

property

vehicles

Totals

£

£

£

COST

At 1 November 2023

and 31 October 2024

104,678

81,139

185,817

DEPRECIATION

At 1 November 2023

-

48,593

48,593

Charge for year

-

8,136

8,136

At 31 October 2024

-

56,729

56,729

NET BOOK VALUE

At 31 October 2024

104,678

24,410

129,088

At 31 October 2023

104,678

32,546

137,224

The freehold property is not depreciated, which is a departure from FRS 102

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Trade debtors

244,818

750,072

Other debtors

343,340

446,489

588,158

1,196,561

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

£

Trade creditors

146,699

631,902

Taxation and social security

15,645

31,845

Other creditors

23,522

23,228

185,866

686,975

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year-end date the directors had the following balance owing to the company:

31.10.24

31.10.23

£

£

Mr P. Wright

92,643

128,351

Mr K. Smith

-

9,676

Interest of £2,510 (2023 : £3,874) has been charged on the director's loan accounts in the year.