SHEco Engineering Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01741806 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2019

FOR

SHECO ENGINEERING SERVICES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

P A Maughan

J W Maughan

B P Maughan

SECRETARY:

J W Maughan

REGISTERED OFFICE:

Quality House

Coneygre Road

Tipton

West Midlands

DY4 8XE

REGISTERED NUMBER:

01741806 (England and Wales)

ACCOUNTANTS:

Bradley Rhodes Limited

Beechcroft House

50 Sedgley Road West

Tipton

West Midlands

DY4 8AB

BANKERS:

National Westminster Bank plc

Dudley Branch

267 Castle Street

Dudley

West Midlands

DY1 1LJ

FIXED ASSETS

Tangible assets

4

188,495

257,255

CURRENT ASSETS

Stocks

42,030

1,953,293

Debtors

1,848,861

2,186,883

Cash at bank

1,241,081

1,356,727

3,131,972

5,496,903

CREDITORS

Amounts falling due within one year

1,210,966

3,767,839

NET CURRENT ASSETS

1,921,006

1,729,064

TOTAL ASSETS LESS CURRENT LIABILITIES

2,109,501

1,986,319

CREDITORS

Amounts falling due after more than one year

(16,626

)

(37,239

)

PROVISIONS FOR LIABILITIES

(31,872

)

(43,467

)

NET ASSETS

2,061,003

1,905,613

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

2,061,001

1,905,611

SHAREHOLDERS' FUNDS

2,061,003

1,905,613

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 31 May 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 18 December 2019 and were signed on its behalf by:

B P Maughan - Director

1.	STATUTORY INFORMATION

SHEco Engineering 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.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

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 14 (2018 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2018

501,617

Additions

37,226

Disposals

(24,044

)

At 31 May 2019

514,799

DEPRECIATION

At 1 June 2018

244,362

Charge for year

95,764

Eliminated on disposal

(13,822

)

At 31 May 2019

326,304

NET BOOK VALUE

At 31 May 2019

188,495

At 31 May 2018

257,255

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

Totals

£

COST

At 1 June 2018

173,550

Transfer to ownership

(31,210

)

At 31 May 2019

142,340

DEPRECIATION

At 1 June 2018

24,644

Charge for year

28,468

Transfer to ownership

(14,241

)

At 31 May 2019

38,871

NET BOOK VALUE

At 31 May 2019

103,469

At 31 May 2018

148,906

5.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Hire purchase contracts

37,844

64,658

6.	CONTINGENT LIABILITIES

There is a composite cross guarantee in favour of Natwest Bank plc between this company and SHEco Automotive

Systems Limited, SHEco Renewable Systems Limited, SHEco Group Limited and Plant and Machinery Installation

Limited. The directors of SHEco Renewable Services Limited are also directors of these companies.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited

financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet.

Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the

Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 May 2019 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Bradley Rhodes Limited

Beechcroft House

50 Sedgley Road West

Tipton

West Midlands

DY4 8AB

18 December 2019