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 2020

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

89,804

39,631

Current assets

Stocks

356,823

230,599

Debtors

935,969

1,321,230

Cash at bank and in hand

651,986

293,580

1,944,778

1,845,409

Creditors

Amounts falling due within one year

1,399,479

1,333,710

Net current assets

545,299

511,699

Total assets less current liabilities

635,103

551,330

Creditors

Amounts falling due after more than one year

(24,476

)

(10,209

)

Provisions for liabilities

-

(803

)

Net assets

610,627

540,318

Capital and reserves

Called up share capital

5

5,000

5,000

Retained earnings

605,627

535,318

Shareholders' funds

610,627

540,318

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2020 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 2020 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 and authorised for issue on 20th October 2020 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 (2019 - 18 ) .

4.	Tangible fixed assets

Totals

£

Cost

At 1st May 2019

95,690

Additions

86,135

Disposals

(13,495

)

At 30th April 2020

168,330

Depreciation

At 1st May 2019

56,059

Charge for year

24,716

Eliminated on disposal

(2,249

)

At 30th April 2020

78,526

Net book value

At 30th April 2020

89,804

At 30th April 2019

39,631

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

Totals

£

Cost

At 1st May 2019

and 30th April 2020

14,288

Depreciation

At 1st May 2019

2,857

Charge for year

2,857

At 30th April 2020

5,714

Net book value

At 30th April 2020

8,574

At 30th April 2019

11,431

5.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/4/20

30/4/19

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.	Ultimate controlling party

The controlling party is Memstech Limited.

The ultimate controlling party is M Mehmet.