East_Coast_Engineers_Grimsby_Limited_31_Oct_2024_companies_house_set_of

East Coast Engineers (Grimsby) Limited

Statement of Financial Position

31 October 2024

		2024		2023
	Note	£		£
Fixed assets
Tangible assets	5	110,694		101,131
Current assets
Stocks		13,500		10,000
Debtors	6	265,958		255,301
Cash at bank and in hand		69,661		59,503
		349,119		324,804
Creditors: amounts falling due within one year	7	(117,705	)	(151,862	)
Net current assets		231,414		172,942
Total assets less current liabilities		342,108		274,073
Creditors: amounts falling due after more than one year	8	(21,416	)	(27,574	)
Provisions for liabilities		(14,106	)	(11,444	)
Net assets		306,586		235,055
Capital and reserves
Called up share capital		668		668
Other reserves		1,334		1,334
Profit and loss account		304,584		233,053
Shareholders funds		306,586		235,055

For the year ending

31 October 2024

, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These

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.

These

financial statements

were approved by the board of directors and authorised for issue on

7 April 2025

, and are signed on behalf of the board by:

P Dolby

Director

Company registration number:

01958760

East Coast Engineers (Grimsby) Limited

Notes to the Financial Statements

Year ended

31 October 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

Cooper Building

Lower Spring Street

Grimsby

North East Lincolnshire

DN31 3JS

, United Kingdom.

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The

financial statements

have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Current tax

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount 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 capital and reserves. However, the increase is recognised in profit or loss to the extent that 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 capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant and machinery	15% Reducing balance
Motor vehicles	25% Reducing balance
Office equipment	15% Reducing balance
Land and buildings	Straight line over 30 years

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

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 Average number of employees

The average number of persons employed by the company during the year was

(2023:

5 Tangible assets

	Land and buildings	Plant and machinery etc.		Total
	£	£		£
Cost
At 1 November 2023	83,036	271,145		354,181
Additions	-	29,537		29,537
Disposals	-	(4,995	)	(4,995	)
At 31 October 2024	83,036	295,687		378,723
Depreciation
At 1 November 2023	27,680	225,370		253,050
Charge	2,768	17,048		19,816
Disposals	-	(4,837	)	(4,837	)
At 31 October 2024	30,448	237,581		268,029
Carrying amount
At 31 October 2024	52,588	58,106		110,694
At 31 October 2023	55,356	45,775		101,131

6 Debtors

	2024	2023
	£	£
Trade debtors	100,260	120,801
Other debtors	165,698	134,500
	265,958	255,301

7 Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	37,437	56,659
Taxation and social security	58,864	72,308
Other creditors	11,404	12,895
	117,705	151,862

The company has a bank overdraft with NatWest which is secured on the assets of the company.

8 Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	9,846	19,840
Other creditors	11,570	7,734
	21,416	27,574

Included within Other Creditors are Hire Purchase liabilities totalling £20,105 (2023 - £29,263) which are secured on two vehicles.