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Registered number: 07049384

ECONOMIC INSULATIONS (PORTSMOUTH) LIMITED

ACCOUNTS
FOR THE YEAR ENDED 31/08/2024

Prepared By:
Lynham & Co
Chartered Accountants
9 Hampton Lane
Blackfield
Southampton
Hampshire
SO45 1ZA

ECONOMIC INSULATIONS (PORTSMOUTH) LIMITED

ACCOUNTS
FOR THE YEAR ENDED 31/08/2024
DIRECTORS
C L Buik
M W Welch
G L Archer
M Welch
REGISTERED OFFICE
8 Whittle Avenue
Segensworth West
Fareham
Hampshire
PO15 5SH
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 07049384
ACCOUNTANTS
Lynham & Co
Chartered Accountants
9 Hampton Lane
Blackfield
Southampton
Hampshire
SO45 1ZA

ECONOMIC INSULATIONS (PORTSMOUTH) LIMITED

ACCOUNTS
FOR THEYEARENDED31/08/2024
CONTENTS
Page
Directors' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts5
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

ECONOMIC INSULATIONS (PORTSMOUTH) LIMITED

BALANCE SHEET AT 31/08/2024
20242023
Notes££
FIXED ASSETS
Tangible assets2491,851441,711
CURRENT ASSETS
Stock47,20040,200
Debtors4624,011760,646
Cash at bank and in hand268,001207,921
939,2121,008,767
CREDITORS: Amounts falling due within one year5397,438513,779
NET CURRENT ASSETS541,774494,988
TOTAL ASSETS LESS CURRENT LIABILITIES1,033,625936,699
CREDITORS: Amounts falling due after more than one year6113,81481,636
PROVISIONS FOR LIABILITIES AND CHARGES8122,963110,428
NET ASSETS796,848744,635
CAPITAL AND RESERVES
Called up share capital911
Profit and loss account796,847744,634
SHAREHOLDERS' FUNDS796,848744,635

ECONOMIC INSULATIONS (PORTSMOUTH) LIMITED

BALANCE SHEET AT 31/08/2024
For the year ending 31/08/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 05/12/2024 and signed on their behalf by
.............................
G L Archer
Director
.............................
M Welch
Director

ECONOMIC INSULATIONS (PORTSMOUTH) LIMITED

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/08/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machineryreducing balance 33%
Commercial Vehiclesreducing balance 25%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1e. Leasing Commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

ECONOMIC INSULATIONS (PORTSMOUTH) LIMITED

2. TANGIBLE FIXED ASSETS
Land AndPlant andCommercial
BuildingsMachineryVehiclesTotal
££££
Cost
At 01/09/20231250,948617,251868,200
Additions-18,393221,539239,932
Disposals--(143,516)(143,516)
At 31/08/20241269,341695,274964,616
Depreciation
At 01/09/2023-188,533237,956426,489
Disposals--(93,496)(93,496)
For the year-31,928107,844139,772
At 31/08/2024-220,461252,304472,765
Net Book Amounts
At 31/08/2024148,880442,970491,851
At 31/08/2023162,415379,295441,711
The carrying value of commercial vehicles includes £389,000 (2023 - £325,195) of assests held under finance arrangements.
3. STOCK 20242023
££
Stock comprises:
Stock2,0002,000
Work in progress45,20038,200
47,20040,200
4. DEBTORS 20242023
££
Amounts falling due within one year
Trade debtors567,089698,819
Other debtors31,89121,511
Prepayments25,03140,316
624,011760,646

ECONOMIC INSULATIONS (PORTSMOUTH) LIMITED

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
UK corporation tax49,71080,039
Other taxation and social security62,55441,446
Hire purchase95,81587,374
Trade creditors162,767287,238
Other creditors8,1126,492
Accruals18,48011,190
397,438513,779
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20242023
££
Hire purchase113,81481,636
113,81481,636
7. EMPLOYEES
20242023
No.No.
Average number of employees1111
8. PROVISIONS FOR LIABILITIES 20242023
££
Deferred taxation122,963110,428
122,963110,428

ECONOMIC INSULATIONS (PORTSMOUTH) LIMITED

9. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
1 Ordinary shares of £1.00 each11
11
10. COMMITMENTS AND CONTINGENCIES
At the reporting date, the Company had outstanding commitments for future minimum lease payments under non-cancellable operating lease arrangements in respect of office premises of £46,000 pa until April 2025 (2023 - £46,000).