ETS Cymru Limited - Accounts to registrar (filleted) - small 22.3

Unaudited Financial Statements for the Year Ended 31 March 2022

for

ETS Cymru Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C R Howells

M J Cole

REGISTERED OFFICE:

Unit 18

Trecenydd Business Park

Caerphilly

Mid Glamorgan

CF83 2RZ

REGISTERED NUMBER:

06128664 (England and Wales)

ACCOUNTANTS:

Moore

Chartered Accountants

First Floor

29 St Augustine's Parade

Bristol

BS1 4UL

FIXED ASSETS

Tangible assets

4

60,952

71,771

CURRENT ASSETS

Stocks

72,798

88,256

Debtors

5

250,617

314,459

Cash at bank

166,152

141,968

489,567

544,683

CREDITORS

Amounts falling due within one year

6

157,438

242,167

NET CURRENT ASSETS

332,129

302,516

TOTAL ASSETS LESS CURRENT LIABILITIES

393,081

374,287

CREDITORS

Amounts falling due after more than one year

7

(50,313

)

(79,996

)

PROVISIONS FOR LIABILITIES

(13,636

)

(13,636

)

NET ASSETS

329,132

280,655

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

329,032

280,555

SHAREHOLDERS' FUNDS

329,132

280,655

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 6 December 2022 and were signed on its behalf by:

C R Howells - Director

1.	STATUTORY INFORMATION

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

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 11 (2021 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2021

71,050

798

158,238

7,806

237,892

Additions

-

-

13,999

-

13,999

Disposals

-

-

(25,550

)

-

(25,550

)

At 31 March 2022

71,050

798

146,687

7,806

226,341

DEPRECIATION

At 1 April 2021

61,110

775

97,719

6,517

166,121

Charge for year

2,485

6

17,507

322

20,320

Eliminated on disposal

-

-

(21,052

)

-

(21,052

)

At 31 March 2022

63,595

781

94,174

6,839

165,389

NET BOOK VALUE

At 31 March 2022

7,455

17

52,513

967

60,952

At 31 March 2021

9,940

23

60,519

1,289

71,771

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

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2021

13,450

100,743

114,193

Additions

-

13,999

13,999

Transfer to ownership

-

(33,854

)

(33,854

)

At 31 March 2022

13,450

80,888

94,338

DEPRECIATION

At 1 April 2021

5,884

52,543

58,427

Charge for year

1,892

15,551

17,443

Transfer to ownership

-

(25,826

)

(25,826

)

At 31 March 2022

7,776

42,268

50,044

NET BOOK VALUE

At 31 March 2022

5,674

38,620

44,294

At 31 March 2021

7,566

48,200

55,766

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

232,948

298,028

VAT

7,345

5,424

Prepayments and accrued income

10,324

11,007

250,617

314,459

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Hire purchase contracts

23,777

29,740

Trade creditors

78,870

146,757

Tax

13,909

9,210

Social security and other taxes

2,680

6,695

ETS (SW) Ltd

2,880

19,945

Bank loan

9,523

-

Directors' current accounts

5,590

10,513

Accruals

20,209

19,307

157,438

242,167

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans - 2-5 years

33,335

50,000

Hire purchase contracts

16,978

29,996

50,313

79,996

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.22

31.3.21

£

£

Hire purchase contracts

40,755

59,736

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.22

31.3.21

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 April 2021

280,555

Profit for the year

48,477

At 31 March 2022

329,032