Company Registration No. 10878514 (England and Wales)
Industrial Engineering & Installation Services Limited
Unaudited accounts
for the year ended 31 July 2021
Industrial Engineering & Installation Services Limited
Unaudited accounts
Contents
Industrial Engineering & Installation Services Limited
Company Information
for the year ended 31 July 2021
Directors
Mr Andrew Ridge
Mr Stuart Samuel Ashby
Company Number
10878514 (England and Wales)
Registered Office
Riverside
Mountbatten Way
Congleton
Cheshire
CW12 1DY
Accountants
Paul Austen Associates Ltd
Riverside
Mountbatten Way
Congleton
Cheshire
CW12 1DY
Industrial Engineering & Installation Services Limited
Statement of financial position
as at 31 July 2021
Tangible assets
451,200
208,051
Debtors
1,954,118
1,004,693
Cash at bank and in hand
1,743,617
2,524,263
Creditors: amounts falling due within one year
(2,409,075)
(1,981,896)
Net current assets
1,303,504
1,547,060
Total assets less current liabilities
1,754,704
1,755,111
Provisions for liabilities
Other provisions
(284,357)
(284,357)
Net assets
1,470,347
1,470,754
Called up share capital
104
104
Profit and loss account
1,470,243
1,470,650
Shareholders' funds
1,470,347
1,470,754
For the year ending 31 July 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2021 and were signed on its behalf by
Mr Andrew Ridge
Director
Company Registration No. 10878514
Industrial Engineering & Installation Services Limited
Notes to the Accounts
for the year ended 31 July 2021
Industrial Engineering & Installation Services Limited is a private company, limited by shares, registered in England and Wales, registration number 10878514. The registered office is Riverside, Mountbatten Way, Congleton, Cheshire, CW12 1DY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance Basis
Motor vehicles
25% Reducing Balance Basis
Fixtures & fittings
25% Reducing Balance Basis
Computer equipment
25% Reducing Balance Basis
The provision is an estimate for reworks where the company has a legal obligation to warrant reworks required for its contracts. Warranty periods can extend for three to five years but as the company and contracts are new no reliable data exists for the costs of expected reworks. Works also require a commission phase so at the date of signing the company is not yet at a phase where reworks are incurred but this may be imminent and so a reasonable estimate of the likely costs considered by the directors and discounted to a present value has been used. Provisions or contingent liabilities will be adjusted as more reliable data becomes available.
The company operates a defined contribution scheme for the benefit of its directors. Contributions payable are recognised in the profit and loss account when due.
Industrial Engineering & Installation Services Limited
Notes to the Accounts
for the year ended 31 July 2021
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 August 2020
40,594
41,678
167,628
75,251
325,151
Additions
47,905
160,481
101,838
52,079
362,303
At 31 July 2021
88,499
202,159
269,466
127,330
687,454
At 1 August 2020
-
20,890
75,138
21,072
117,100
Charge for the year
-
45,318
48,582
27,002
120,902
On disposals
-
-
-
(1,748)
(1,748)
At 31 July 2021
-
66,208
123,720
46,326
236,254
At 31 July 2021
88,499
135,951
145,746
81,004
451,200
At 31 July 2020
40,594
20,788
92,490
54,179
208,051
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
1,850,050
1,001,187
Amounts due from group undertakings etc.
51,769
-
Other debtors
52,299
3,506
6
Creditors: amounts falling due within one year
2021
2020
Trade creditors
1,510,044
680,832
Amounts owed to group undertakings and other participating interests
-
(7,843)
Taxes and social security
196,616
1,241,314
Other creditors
66,432
67,543
Loans from directors
(535)
-
7
Provisions for liabilities
£
The provision is an estimate for reworks where the company has a legal obligation to warrant reworks required for its contracts. Warranty periods can extend for three to five years but as the company and contracts are new no reliable data exists for the costs of expected reworks. Works also require a commission phase so at the date of signing the company is not yet at a phase where reworks are incurred but this may be imminent and so a reasonable estimate of the likely costs considered by the directors and discounted to a present value has been used. Provisions or contingent liabilities will be adjusted as more reliable data becomes available.
Industrial Engineering & Installation Services Limited
Notes to the Accounts
for the year ended 31 July 2021
Allotted, called up and fully paid:
50 Ordinary 1 GBP £1.00 of £1 each
50
50
5 Ordinary A 1 GBP £1.00 of £1 each
5
5
45 Ordinary B 1 GBP £1.00 of £1 each
45
45
2 Ordinary C 1 GBP £1.00 of £1 each
2
2
2 Ordinary D 1 GBP £1.00 of £1 each
2
2
9
Average number of employees
During the year the average number of employees was 8 (2020: 0).
