Registered number
02908470
Remec Engineering Services (Burnley) Limited
Report and Accounts
31 January 2025
Remec Engineering Services (Burnley) Limited
Registered number: 02908470
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Intangible assets 3 130,067 146,323
Tangible assets 4 29,260 36,232
159,327 182,555
Current assets
Stocks 26,319 49,827
Debtors 5 123,790 96,678
Cash at bank and in hand 35,447 57,134
185,556 203,639
Creditors: amounts falling due within one year 6 (74,086) (107,045)
Net current assets 111,470 96,594
Total assets less current liabilities 270,797 279,149
Creditors: amounts falling due after more than one year 7 (9,816) (19,799)
Provisions for liabilities (5,370) (6,989)
Net assets 255,611 252,361
Capital and reserves
Called up share capital 100 100
Profit and loss account 255,511 252,261
Shareholder's funds 255,611 252,361
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R Furness
Director
Approved by the board on 9 May 2025
Remec Engineering Services (Burnley) Limited
Notes to the Accounts
for the year ended 31 January 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Intangible fixed assets
Goodwill represents the excess of the cost of acqusition of unincorporated businesses over the fair value of net assets required. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years. This is based on the longevity of the business, given its longstanding period of existence.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant & machinery 15% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 10 10
3 Intangible fixed assets Goodwill
£
Cost
At 1 February 2024 325,145
At 31 January 2025 325,145
Amortisation
At 1 February 2024 178,822
Provided during the year 16,256
At 31 January 2025 195,078
Net book value
At 31 January 2025 130,067
At 31 January 2024 146,323
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
At 1 February 2024 59,494 125,027 184,521
At 31 January 2025 59,494 125,027 184,521
Depreciation
At 1 February 2024 38,624 109,665 148,289
Charge for the year 6,972 - 6,972
At 31 January 2025 45,596 109,665 155,261
Net book value
At 31 January 2025 13,898 15,362 29,260
At 31 January 2024 20,870 15,362 36,232
5 Debtors 2025 2024
£ £
Trade debtors 109,914 83,893
Other debtors 13,876 12,785
123,790 96,678
6 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loan and overdraft 10,000 40,655
Trade creditors 27,292 26,875
Corporation tax 6,015 11,754
Other taxes and social security costs 20,017 11,176
Other creditors 10,762 16,585
74,086 107,045
7 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loan 9,816 19,799
8 Related party transactions
Included within other creditors (2024: otherdebtors), falling due within one year, is an amount of £1,016 (2024: £169) owed to (2024: by) Mr P Furness, a director of the company. During the year the director introduced cash into the company of £1,185. During the year dividends amounting to £500 (2024: £1,000) were paid to Mr P Furness.

Included within other debtors is an amount of £nil (2024: £1,231) owed by Mr R Furness, a director of the company. During the year the director introduced cash into the company of £1,231. During the year dividends amounting to £500 (2024: £1,000) were paid to Mr R Furness.
9 Controlling party
The company was under the control of the family of Mr P Furness (a company director who sadly passed away on 17th May 2024), and Mr R Furness , a company director, who together controlled all of the company's issued share capital from 17 May 2024. Prior to this the company was under the control of Mr P Furness and Mr R Furness, who owned all the share capital of the company.
10 Other information
Remec Engineering Services (Burnley) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Summit Works
Manchester Road
Burnley
Lancashire
BB11 5HG
Remec Engineering Services (Burnley) Limited 02908470 false 2024-02-01 2025-01-31 2025-01-31 VT Final Accounts April 2025 Mr R Furness No description of principal activity 02908470 2023-02-01 2024-01-31 02908470 core:WithinOneYear 2024-01-31 02908470 core:AfterOneYear 2024-01-31 02908470 core:ShareCapital 2024-01-31 02908470 core:RetainedEarningsAccumulatedLosses 2024-01-31 02908470 2024-02-01 2025-01-31 02908470 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 02908470 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 02908470 bus:Director40 2024-02-01 2025-01-31 02908470 core:OfficeEquipment 2024-02-01 2025-01-31 02908470 core:Goodwill 2024-02-01 2025-01-31 02908470 core:PlantMachinery 2024-02-01 2025-01-31 02908470 core:Vehicles 2024-02-01 2025-01-31 02908470 countries:England 2024-02-01 2025-01-31 02908470 bus:FRS102 2024-02-01 2025-01-31 02908470 bus:FilletedAccounts 2024-02-01 2025-01-31 02908470 2025-01-31 02908470 core:WithinOneYear 2025-01-31 02908470 core:AfterOneYear 2025-01-31 02908470 core:ShareCapital 2025-01-31 02908470 core:RetainedEarningsAccumulatedLosses 2025-01-31 02908470 core:Goodwill 2025-01-31 02908470 core:PlantMachinery 2025-01-31 02908470 core:Vehicles 2025-01-31 02908470 2024-01-31 02908470 core:Goodwill 2024-01-31 02908470 core:PlantMachinery 2024-01-31 02908470 core:Vehicles 2024-01-31 iso4217:GBP xbrli:pure