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ENGINEERING SOLUTIONS (LINCOLN) LIMITED

Registered Number
04342461
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

ENGINEERING SOLUTIONS (LINCOLN) LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

R Bacon

Registered Address

35 Bath Road
Bracebridge Heath
Lincoln
LN4 2TU

Registered Number

04342461 (England and Wales)
ENGINEERING SOLUTIONS (LINCOLN) LIMITED
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3530331
530331
Current assets
Stocks44340
Debtors22,63811,706
22,68111,746
Creditors amounts falling due within one year5(31,216)(35,778)
Net current assets (liabilities)(8,535)(24,032)
Total assets less current liabilities(8,005)(23,701)
Net assets(8,005)(23,701)
Capital and reserves
Called up share capital100100
Profit and loss account(8,105)(23,801)
Shareholders' funds(8,005)(23,701)
The financial statements were approved and authorised for issue by the Director on 6 May 2025, and are signed on its behalf by:
R Bacon
Director
Registered Company No. 04342461
ENGINEERING SOLUTIONS (LINCOLN) LIMITED
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
Although the company's balance sheet shows a net deficit, the director has confirmed he will continue to support the company by providing additional funds as required to enable it to meet its liabilities as and when they fall due therefore the financial statements have been prepared on a going concern basis.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment15
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 September 231,4361,436
Additions599599
Disposals(499)(499)
At 31 August 241,5361,536
Depreciation and impairment
At 01 September 231,1051,105
Charge for year140140
On disposals(239)(239)
At 31 August 241,0061,006
Net book value
At 31 August 24530530
At 31 August 23331331
4.Stocks

2024

2023

££
Raw materials and consumables4340
Total4340
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables9,32913,577
Bank borrowings and overdrafts6,2268,350
Taxation and social security3,1101,816
Other creditors11,18210,767
Accrued liabilities and deferred income1,3691,268
Total31,21635,778
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. The bank borrowings are a secured creditor.