Electronic & General Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01277366 (England and Wales)

Electronic & General Services Limited

Abridged Financial Statements for the Year Ended 30th April 2019

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Directors:

M Mehmet

A Toyer

S Clapson

Registered office:

Electron House

Church Street Industrial Estate

Church Street

Ware, Herts

SG12 9ES

Registered number:

01277366 (England and Wales)

Accountants:

Walters & Company

Certified Practising Accountants

1-3 High Street

Great Dunmow

Essex

CM6 1UU

Fixed assets

Tangible assets

4

39,631

8,943

Current assets

Stocks

230,599

129,052

Debtors

1,321,230

1,081,499

Cash at bank and in hand

293,580

384,829

1,845,409

1,595,380

Creditors

Amounts falling due within one year

1,333,710

996,382

Net current assets

511,699

598,998

Total assets less current liabilities

551,330

607,941

Creditors

Amounts falling due after more than one year

(10,209

)

(2,677

)

Provisions for liabilities

(803

)

(1,065

)

Net assets

540,318

604,199

Capital and reserves

Called up share capital

5

5,000

5,000

Retained earnings

6

535,318

599,199

Shareholders' funds

540,318

604,199

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2019 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30th April 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 28th October 2019 and were signed on its behalf by:

M Mehmet - Director

1.	Statutory information

Electronic & General Services 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.

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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures & equipment

-

20% on cost and 15% on reducing balance

Motor vehicles

-

33% on cost

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.

3.	Employees and directors

The average number of employees during the year was 18 (2018 - 23 ) .

4.	Tangible fixed assets

Totals

£

Cost

At 1st May 2018

75,028

Additions

40,066

Disposals

(19,404

)

At 30th April 2019

95,690

Depreciation

At 1st May 2018

66,085

Charge for year

9,378

Eliminated on disposal

(19,404

)

At 30th April 2019

56,059

Net book value

At 30th April 2019

39,631

At 30th April 2018

8,943

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

follows:

Totals

£

Cost

At 1st May 2018

19,404

Additions

14,288

Disposals

(19,404

)

At 30th April 2019

14,288

Depreciation

At 1st May 2018

19,404

Charge for year

2,857

Eliminated on disposal

(19,404

)

At 30th April 2019

2,857

Net book value

At 30th April 2019

11,431

At 30th April 2018

-

5.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/4/19

30/4/18

value:

£

£

1,320

Ordinary

£1

1,320

1,320

920

Ordinary A

£1

920

920

1,380

Ordinary B

£1

1,380

1,380

1,380

Ordinary C

£1

1,380

1,380

5,000

5,000

6.

Reserves

Retained

earnings

£

At 1st May 2018

599,199

Profit for the year

436,119

Dividends

(500,000

)

At 30th April 2019

535,318

7.	Ultimate controlling party

The controlling party is Memstech Limited.

The ultimate controlling party is M Mehmet.