REGISTERED NUMBER: 04068809 (England and Wales)

E.M.S. (MANSFIELD) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M Hollingworth

Mrs T Hollingworth

REGISTERED OFFICE:

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

REGISTERED NUMBER:

04068809 (England and Wales)

ACCOUNTANTS:

ApC

Chartered Accountants

7 St John Street

Mansfield

Nottinghamshire

NG18 1QH

BANKERS:

Lloyds TSB

1-3 Church Street

Mansfield

Nottinghamshire

NG18 1AF

FIXED ASSETS

Tangible assets

5

578,378

560,164

CURRENT ASSETS

Stocks

51,654

109,220

Debtors

6

202,157

330,098

Cash at bank and in hand

6,277

14,199

260,088

453,517

CREDITORS

Amounts falling due within one year

7

512,301

651,357

NET CURRENT LIABILITIES

(252,213

)

(197,840

)

TOTAL ASSETS LESS CURRENT LIABILITIES

326,165

362,324

CREDITORS

Amounts falling due after more than one year

8

(144,551

)

(131,424

)

PROVISIONS FOR LIABILITIES

(78,598

)

(87,689

)

NET ASSETS

103,016

143,211

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

102,916

143,111

SHAREHOLDERS' FUNDS

103,016

143,211

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 5 September 2025 and were signed on its behalf by:

Mr M Hollingworth - Director

1.	STATUTORY INFORMATION

E.M.S. (Mansfield) Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The judgements and estimates are detailed in the accounting policy of the fixed assets depreciation rates. The rates are annually reviewed in line to what the directors believe the assets are worth taken into account the income streams generated by those assets.

The other significant judgements and estimates are detailed in the accounting policies.

Turnover

Turnover represents the value excluding Value Added Tax of precision engineering and fabrication services provided to customers during the year. In respect of all services provided, income is taken to profit and loss at the same point as the right to receive consideration has been acquired.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

10% straight line

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33.33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Financial instruments

Financial instruments 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 15 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 November 2023

225,178

1,665,549

53,991

Additions

-

-

-

Disposals

-

(97,895

)

-

At 31 October 2024

225,178

1,567,654

53,991

DEPRECIATION

At 1 November 2023

15,771

1,353,341

25,265

Charge for year

-

44,482

4,311

Eliminated on disposal

-

(82,224

)

-

At 31 October 2024

15,771

1,315,599

29,576

NET BOOK VALUE

At 31 October 2024

209,407

252,055

24,415

At 31 October 2023

209,407

312,208

28,726

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 November 2023

50,370

60,909

2,055,997

Additions

111,199

3,521

114,720

Disposals

(15,500

)

-

(113,395

)

At 31 October 2024

146,069

64,430

2,057,322

DEPRECIATION

At 1 November 2023

46,845

54,611

1,495,833

Charge for year

28,653

3,275

80,721

Eliminated on disposal

(15,386

)

-

(97,610

)

At 31 October 2024

60,112

57,886

1,478,944

NET BOOK VALUE

At 31 October 2024

85,957

6,544

578,378

At 31 October 2023

3,525

6,298

560,164

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 November 2023

1,366,351

21,280

1,387,631

Additions

-

111,199

111,199

Transfer to ownership

(1,207,347

)

(21,280

)

(1,228,627

)

At 31 October 2024

159,004

111,199

270,203

DEPRECIATION

At 1 November 2023

948,503

19,779

968,282

Charge for year

12,497

27,800

40,297

Transfer to ownership

(872,808

)

(19,779

)

(892,587

)

At 31 October 2024

88,192

27,800

115,992

NET BOOK VALUE

At 31 October 2024

70,812

83,399

154,211

At 31 October 2023

417,848

1,501

419,349

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

155,474

296,626

Amounts recoverable on contract

32,004

4,826

Other debtors

12,828

-

Prepayments and accrued income

1,851

28,646

202,157

330,098

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

138,792

263,594

Hire purchase contracts (see note 9)

64,280

40,725

Trade creditors

135,054

94,006

Corporation tax

21,608

32,801

Social security and other taxes

2,796

2,026

Pension

-

759

VAT

38,848

67,240

Other creditors

79,778

61,645

Directors' current accounts

3,468

36,860

Accruals and deferred income

27,677

51,701

512,301

651,357

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

20,714

18,301

Bank loans - 2-5 years

15,115

35,735

Bank loans more 5 yr by instal

-

2,767

Hire purchase contracts (see note 9)

108,722

74,621

144,551

131,424

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

2,767

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024

2023

£

£

Net obligations repayable:

Within one year

64,280

40,725

Between one and five years

108,722

74,621

173,002

115,346

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank overdrafts

118,700

245,293

Hire purchase contracts

173,002

115,346

291,702

360,639

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

60

Ordinary A

£1

60

60

30

Ordinary B

£1

30

30

10

Ordinary C

£1

10

10

100

100

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year no interest was charged on the above outstanding debt