| Registered number: 07049384 | ||||||||
| 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 | ||||||||
| REGISTERED OFFICE | ||||||||
| Hampshire | ||||||||
| 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 Sheet | 3 | |||||||
| Notes To The Accounts | 5 | |||||||
| 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 | ||||||||||
| 2024 | 2023 | |||||||||
| Notes | £ | £ | ||||||||
| FIXED ASSETS | ||||||||||
| Tangible assets | 2 | |||||||||
| CURRENT ASSETS | ||||||||||
| Stock | ||||||||||
| Debtors | 4 | |||||||||
| Cash at bank and in hand | ||||||||||
| 939,212 | 1,008,767 | |||||||||
| CREDITORS: Amounts falling due within one year | 5 | |||||||||
| NET CURRENT ASSETS | 494,988 | |||||||||
| TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
| CREDITORS: Amounts falling due after more than one year | 6 | 113,814 | 81,636 | |||||||
| PROVISIONS FOR LIABILITIES AND CHARGES | 8 | |||||||||
| NET ASSETS | ||||||||||
| CAPITAL AND RESERVES | ||||||||||
| Called up share capital | 9 | |||||||||
| Profit and loss account | 796,847 | 744,634 | ||||||||
| SHAREHOLDERS' FUNDS | ||||||||||
| ECONOMIC INSULATIONS (PORTSMOUTH) LIMITED | ||||||||
| BALANCE SHEET AT | ||||||||||
| Approved by the board on | ||||||||||
| ............................. | ||||||||||
| 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 | ||||||||
| Plant and Machinery | reducing balance 33% | |||||||
| Commercial Vehicles | reducing 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 | ||||||||
| 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 And | Plant and | Commercial | ||||||||
| Buildings | Machinery | Vehicles | Total | |||||||
| £ | £ | £ | £ | |||||||
| Cost | ||||||||||
| At 01/09/2023 | 1 | 250,948 | 617,251 | 868,200 | ||||||
| Additions | - | 18,393 | 221,539 | 239,932 | ||||||
| Disposals | - | - | (143,516) | (143,516) | ||||||
| At 31/08/2024 | 1 | 269,341 | 695,274 | 964,616 | ||||||
| Depreciation | ||||||||||
| At 01/09/2023 | - | 188,533 | 237,956 | 426,489 | ||||||
| Disposals | - | - | (93,496) | (93,496) | ||||||
| For the year | - | 31,928 | 107,844 | 139,772 | ||||||
| At 31/08/2024 | - | 220,461 | 252,304 | 472,765 | ||||||
| Net Book Amounts | ||||||||||
| At 31/08/2024 | 491,851 | |||||||||
| At 31/08/2023 | 441,711 | |||||||||
| The carrying value of commercial vehicles includes £389,000 (2023 - £325,195) of assests held under finance arrangements. | ||||||||||
| 3. STOCK | 2024 | 2023 | ||||
| £ | £ | |||||
| Stock comprises: | ||||||
| Stock | ||||||
| Work in progress | ||||||
| 4. DEBTORS | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Amounts falling due within one year | ||||||||
| Trade debtors | 567,089 | 698,819 | ||||||
| Other debtors | 31,891 | 21,511 | ||||||
| Prepayments | 25,031 | 40,316 | ||||||
| 624,011 | 760,646 | |||||||
| ECONOMIC INSULATIONS (PORTSMOUTH) LIMITED | ||||||||
| 5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
| 2024 | 2023 | |||||||
| £ | £ | |||||||
| UK corporation tax | 49,710 | 80,039 | ||||||
| Other taxation and social security | 62,554 | 41,446 | ||||||
| Hire purchase | 95,815 | 87,374 | ||||||
| Trade creditors | 162,767 | 287,238 | ||||||
| Other creditors | 8,112 | 6,492 | ||||||
| Accruals | 18,480 | 11,190 | ||||||
| 397,438 | 513,779 | |||||||
| 6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
| 2024 | 2023 | |||||||
| £ | £ | |||||||
| Hire purchase | 113,814 | 81,636 | ||||||
| 113,814 | 81,636 | |||||||
| 7. EMPLOYEES | ||||||
| 2024 | 2023 | |||||
| No. | No. | |||||
| Average number of employees | 11 | |||||
| 8. PROVISIONS FOR LIABILITIES | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Deferred taxation | 122,963 | 110,428 | ||||||
| 122,963 | 110,428 | |||||||
| ECONOMIC INSULATIONS (PORTSMOUTH) LIMITED | ||||||||
| 9. SHARE CAPITAL | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Allotted, issued and fully paid: | ||||||||
| 1 | 1 | |||||||
| 1 | 1 | |||||||
| 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). | ||||||||