Electromech ECS Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05267815 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

Electromech ECS Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R W Cottingham

P A Boxall

Mrs M Godding

SECRETARY:

Mrs M A P Godding

REGISTERED OFFICE:

Unit 19

Admiralty Way

Camberley

Surrey

GU15 3DT

REGISTERED NUMBER:

05267815 (England and Wales)

ACCOUNTANTS:

Debbie Winfield Accountancy Ltd

The Office

Homelands

Upperton

Watlington

Oxfordshire

OX49 5PB

FIXED ASSETS

Tangible assets

4

1,020

1,580

CURRENT ASSETS

Stocks

20,750

41,580

Debtors

5

532,086

350,495

Cash at bank and in hand

71,127

50,520

623,963

442,595

CREDITORS

Amounts falling due within one year

6

222,099

46,800

NET CURRENT ASSETS

401,864

395,795

TOTAL ASSETS LESS CURRENT LIABILITIES

402,884

397,375

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

402,784

397,275

SHAREHOLDERS' FUNDS

402,884

397,375

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 16 December 2020 and were signed on its behalf by:

P A Boxall - Director

R W Cottingham - Director

1.	STATUTORY INFORMATION

Electromech ECS 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.

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.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 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

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities 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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 April 2019

and 31 March 2020

6,931

4,886

11,817

DEPRECIATION

At 1 April 2019

5,542

4,695

10,237

Charge for year

465

95

560

At 31 March 2020

6,007

4,790

10,797

NET BOOK VALUE

At 31 March 2020

924

96

1,020

At 31 March 2019

1,389

191

1,580

5.

DEBTORS

31.3.20

31.3.19

£

£

Amounts falling due within one year:

Trade debtors

242,685

66,387

Other debtors

3,099

4,087

245,784

70,474

Amounts falling due after more than one year:

Amounts owed by group undertakings

286,302

280,021

Aggregate amounts

532,086

350,495

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

87,369

37,112

Taxation and social security

35,025

7,189

Other creditors

99,705

2,499

222,099

46,800

7.	LEASING AGREEMENTS

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

31.3.20

31.3.19

£

£

Within one year

2,258

2,624

Between one and five years

7,054

16,865

9,312

19,489

8.	ULTIMATE CONTROLLING PARTY

The controlling party is P A Boxall.

Mr P Boxall is the majority shareholder of Micro Electronic Services Limited, the parent company.