Energy & Compliance Technology Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07311760 (England and Wales)

Financial Statements

for the Year Ended 31 March 2018

for

ENERGY & COMPLIANCE TECHNOLOGY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M S Wallis

A M Penny

J R Penny

REGISTERED OFFICE:

6 Mariner Court

Calder Park

Wakefield

WF4 3FL

REGISTERED NUMBER:

07311760 (England and Wales)

AUDITORS:

Rawse, Varley & Co

Statutory Auditor

Lloyds Bank Chambers

Hustlergate

Bradford

BD1 1UQ

FIXED ASSETS

Tangible assets

4

19,923

25,921

CURRENT ASSETS

Debtors

5

1,025,752

669,981

Cash at bank

191,740

373,028

1,217,492

1,043,009

CREDITORS

Amounts falling due within one year

6

710,837

712,455

NET CURRENT ASSETS

506,655

330,554

TOTAL ASSETS LESS CURRENT LIABILITIES

526,578

356,475

PROVISIONS FOR LIABILITIES

-

1,725

NET ASSETS

526,578

354,750

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

526,577

354,749

SHAREHOLDERS' FUNDS

526,578

354,750

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 on 13 November 2019 and were signed on its behalf by:

A M Penny - Director

1.	STATUTORY INFORMATION

Energy & Compliance Technology 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.

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 represents the invoice value of goods and services sold, less returns and allowances, excluding value

added tax.

Fixed assets and depreciation

Fixed assets are stated at cost less depreciation.

Depreciation is calculated to write off the assets over their estimated useful lives at the following annual rates:

Computer hardware

-

33% of cost

Computer software

-

20% of cost

Equipment & fixtures

-

20% of 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 contributions

Pension contributions to personal defined contribution pension schemes are charged to profit and loss account

when incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2017 - 44 ) .

4.	TANGIBLE FIXED ASSETS

Office

furniture

and

equipment

£

COST

At 1 April 2017

115,576

Additions

10,420

At 31 March 2018

125,996

DEPRECIATION

At 1 April 2017

89,655

Charge for year

16,418

At 31 March 2018

106,073

NET BOOK VALUE

At 31 March 2018

19,923

At 31 March 2017

25,921

5.

DEBTORS

2018

2017

£

£

Amounts falling due within one year:

Trade debtors

488,658

322,572

Amounts owed by group undertakings

246,576

264,204

Prepayments and accrued income

162,547

83,205

897,781

669,981

Amounts falling due after more than one year:

Deferred tax asset

127,971

-

Aggregate amounts

1,025,752

669,981

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

186,737

95,256

Corporation tax

-

29,307

Social security and other taxes

109,617

128,828

Director's loan account

21,000

21,000

Accruals and deferred income

393,483

438,064

710,837

712,455

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Within one year

61,265

61,644

Between one and five years

12,478

72,863

73,743

134,507

8.	SECURED DEBTS

Bank borrowing facilities are secured by a debenture dated 18 June 2012 in favour of National Westminster

Bank PLC. There were no such borrowings at 31 March 2018 (2017 - none).

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

The Report of the Auditors was unqualified.

Philip Varley (Senior Statutory Auditor)

for and on behalf of Rawse, Varley & Co

10.	CONTINGENT LIABILITIES

The company is party to an unlimited cross guarantee to its bankers securing the borrowings of group companies.

There were no such borrowings at 31 March 2018 (2017 - none).

11.	RELATED PARTY DISCLOSURES

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.

12.	ULTIMATE PARENT COMPANY

The ultimate parent company is Stonelode Limited.