IRIS Accounts Production v25.1.3.33 09869628 Board of Directors 1.9.23 31.8.24 31.8.24 28.5.25 0 0 false true false false true false Auditors Opinion Ordinary 1.00000 B Ordinary 1.00000 C Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh098696282023-08-31098696282024-08-31098696282023-09-012024-08-31098696282022-08-31098696282022-09-012023-08-31098696282023-08-3109869628ns15:EnglandWales2023-09-012024-08-3109869628ns14:PoundSterling2023-09-012024-08-3109869628ns10:Director12023-09-012024-08-3109869628ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3109869628ns10:SmallEntities2023-09-012024-08-3109869628ns10:Audited2023-09-012024-08-3109869628ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3109869628ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3109869628ns10:FullAccounts2023-09-012024-08-3109869628ns10:OrdinaryShareClass12023-09-012024-08-3109869628ns10:OrdinaryShareClass22023-09-012024-08-3109869628ns10:OrdinaryShareClass32023-09-012024-08-3109869628ns10:Director22023-09-012024-08-3109869628ns10:RegisteredOffice2023-09-012024-08-3109869628ns5:CurrentFinancialInstruments2024-08-3109869628ns5:CurrentFinancialInstruments2023-08-3109869628ns5:ShareCapital2024-08-3109869628ns5:ShareCapital2023-08-3109869628ns5:RetainedEarningsAccumulatedLosses2024-08-3109869628ns5:RetainedEarningsAccumulatedLosses2023-08-310986962812023-09-012024-08-3109869628ns5:PlantMachinery2023-09-012024-08-3109869628ns5:FurnitureFittings2023-09-012024-08-3109869628ns5:PlantMachinery2023-08-3109869628ns5:FurnitureFittings2023-08-3109869628ns5:PlantMachinery2024-08-3109869628ns5:FurnitureFittings2024-08-3109869628ns5:PlantMachinery2023-08-3109869628ns5:FurnitureFittings2023-08-3109869628ns5:CostValuation2023-08-3109869628ns5:AcceleratedTaxDepreciationDeferredTax2024-08-3109869628ns5:AcceleratedTaxDepreciationDeferredTax2023-08-3109869628ns5:DeferredTaxation2023-08-3109869628ns5:DeferredTaxation2023-09-012024-08-3109869628ns5:DeferredTaxation2024-08-3109869628ns10:OrdinaryShareClass12024-08-3109869628ns10:OrdinaryShareClass22024-08-3109869628ns10:OrdinaryShareClass32024-08-31
REGISTERED NUMBER: 09869628 (England and Wales)




FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

ERNEST ENGINEERING LIMITED

ERNEST ENGINEERING LIMITED (REGISTERED NUMBER: 09869628)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ERNEST ENGINEERING LIMITED

COMPANY INFORMATION
for the year ended 31 August 2024







DIRECTORS: Mrs L Fisher
S E J Whitehouse





REGISTERED OFFICE: 1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB





REGISTERED NUMBER: 09869628 (England and Wales)





AUDITORS: Luckmans Duckett Parker Limited
Chartered Accountants
Statutory Auditors
1110 Elliott Court
Herald Avenue
Coventry Business Park
Coventry
West Midlands
CV5 6UB

ERNEST ENGINEERING LIMITED (REGISTERED NUMBER: 09869628)

BALANCE SHEET
31 August 2024

2024 2023
(Unaudited)
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 63,679 109,360
Investments 5 5,325 5,325
69,004 114,685

CURRENT ASSETS
Debtors 6 1,416,688 1,369,551
Cash in hand 100 100
1,416,788 1,369,651
CREDITORS
Amounts falling due within one year 7 905,223 890,579
NET CURRENT ASSETS 511,565 479,072
TOTAL ASSETS LESS CURRENT
LIABILITIES

580,569

593,757

PROVISIONS FOR LIABILITIES 8 15,920 24,051
NET ASSETS 564,649 569,706

CAPITAL AND RESERVES
Called up share capital 9 5,425 5,425
Retained earnings 559,224 564,281
SHAREHOLDERS' FUNDS 564,649 569,706

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 28 May 2025 and were signed on its behalf by:





S E J Whitehouse - Director


ERNEST ENGINEERING LIMITED (REGISTERED NUMBER: 09869628)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 August 2024

1. STATUTORY INFORMATION

Ernest Engineering 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.

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.

Preparation of consolidated financial statements
The financial statements contain information about Ernest Engineering Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Whitehouse Industries Limited, 1110 Elliott Court, Coventry Business Park, Herald Avenue, Coventry, West Midlands, United Kingdom, CV5 6UB.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

ERNEST ENGINEERING LIMITED (REGISTERED NUMBER: 09869628)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Fixtures and fittings - 33% on cost, 20% on cost and 10% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Investments in subsidiaries
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long-term interest and shares control under a contractual arrangement are classified as jointly controlled entities.


ERNEST ENGINEERING LIMITED (REGISTERED NUMBER: 09869628)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2024

2. ACCOUNTING POLICIES - continued
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Pension costs and other post-retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

ERNEST ENGINEERING LIMITED (REGISTERED NUMBER: 09869628)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

3. EMPLOYEES AND DIRECTORS

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

ERNEST ENGINEERING LIMITED (REGISTERED NUMBER: 09869628)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 September 2023 390,803 24,608 415,411
Disposals (35,005 ) - (35,005 )
At 31 August 2024 355,798 24,608 380,406
DEPRECIATION
At 1 September 2023 286,575 19,476 306,051
Charge for year 37,078 770 37,848
Eliminated on disposal (27,172 ) - (27,172 )
At 31 August 2024 296,481 20,246 316,727
NET BOOK VALUE
At 31 August 2024 59,317 4,362 63,679
At 31 August 2023 104,228 5,132 109,360

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 September 2023
and 31 August 2024 5,325
NET BOOK VALUE
At 31 August 2024 5,325
At 31 August 2023 5,325

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
(Unaudited)
£    £   
Amounts owed by group undertakings 1,416,688 1,369,551

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
(Unaudited)
£    £   
Amounts owed to group undertakings 893,080 889,080
Tax 6,243 -
VAT 4,000 -
Accruals and deferred income 1,900 1,499
905,223 890,579

ERNEST ENGINEERING LIMITED (REGISTERED NUMBER: 09869628)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2024

8. PROVISIONS FOR LIABILITIES
2024 2023
(Unaudited)
£    £   
Deferred tax
Accelerated capital allowances 15,920 24,051

Deferred
tax
£   
Balance at 1 September 2023 24,051
Credit to Income Statement during year (8,131 )
Balance at 31 August 2024 15,920

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
5,125 B Ordinary £1 5,125 5,125
200 C Ordinary £1 200 200
5,425 5,425

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Spafford FCA FCCA (Senior Statutory Auditor)
for and on behalf of Luckmans Duckett Parker Limited

11. PARENT UNDERTAKING

The company is a wholly owned subsidiary of Stulou Limited, a company registered in England and Wales.