The Engineering Practice Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02685508 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THE ENGINEERING PRACTICE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G C Neal

R J Stanton

SECRETARY:

G C Neal

REGISTERED OFFICE:

Gunnery House

Gunnery Terrace

Leamington Spa

Warwickshire

CV32 5PE

REGISTERED NUMBER:

02685508 (England and Wales)

ACCOUNTANTS:

Enhance

Chartered Accountants & Business Advisers

38 Middlehill Road

Wimborne

Dorset

BH21 2SE

FIXED ASSETS

Tangible assets

4

15,945

29,567

CURRENT ASSETS

Debtors

5

546,242

721,984

Cash at bank and in hand

176,347

197,389

722,589

919,373

CREDITORS

Amounts falling due within one year

6

206,113

224,445

NET CURRENT ASSETS

516,476

694,928

TOTAL ASSETS LESS CURRENT LIABILITIES

532,421

724,495

PROVISIONS FOR LIABILITIES

1,794

4,576

NET ASSETS

530,627

719,919

CAPITAL AND RESERVES

Called up share capital

102

Retained earnings

530,525

719,817

SHAREHOLDERS' FUNDS

530,627

719,919

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 30 September 2025 and were signed on its behalf by:

G C Neal - Director

1.	STATUTORY INFORMATION

The Engineering Practice 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

20% on cost

Plant and machinery etc

-

33% on cost, 15% on reducing balance and 10% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The amount paid in the year was £24,413 (2023: £27,969).

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 January 2024

19,220

131,573

150,793

Additions

-

619

At 31 December 2024

19,220

132,192

151,412

DEPRECIATION

At 1 January 2024

19,220

102,006

121,226

Charge for year

-

14,241

At 31 December 2024

19,220

116,247

135,467

NET BOOK VALUE

At 31 December 2024

-

15,945

At 31 December 2023

-

29,567

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

299,548

442,616

Other debtors

246,694

279,368

546,242

721,984

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

30,278

33,849

Taxation and social security

153,683

177,333

Other creditors

22,152

13,263

206,113

224,445

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

G C Neal

Balance outstanding at start of year

115,637

120,306

Amounts advanced

31,942

37,931

Amounts repaid

(60,000

)

(42,600

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

87,579

115,637

R J Stanton

Balance outstanding at start of year

53,697

62,125

Amounts advanced

22,110

19,972

Amounts repaid

(40,000

)

(28,400

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

35,807

53,697

8.	RELATED PARTY DISCLOSURES

Included within other debtors is a balance of £87,579 owed from Geoffrey Neal (director) (2023: £115,637). During the period Mr Neal received dividends totalling £60,000.

Included within other debtors is a balance of £35,807 owed from Robert Stanton (director) (2023: £53,697). During the period Mr Stanton received dividends totalling £40,000.

The Directors are Partners of The Engineering Practice (Partnership). During the year the Partnership provided services to the company to the value of £0 (2023: £83,195). During the year the company provided services to the Partnership totalling £44,358 (2023: £44,518). The balance owed by the Partnership to the company at the year end was £47,828 (2023: £18,978).

The Directors are shareholders of The Engineering Practice (London) Ltd. During the year the company supplied £nil (2023: £nil) of services to The Engineering Practice (London) Ltd.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is G C Neal.