ETS (FM) Limited - Accounts to registrar (filleted) - small 18.2

Unaudited Financial Statements for the Year Ended 31 March 2021

for

ETS (FM) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J Cole

N Cole

REGISTERED OFFICE:

Brook House

Fox Den Road

Stoke Gifford

Bristol

BS34 8SP

REGISTERED NUMBER:

09355423 (England and Wales)

ACCOUNTANTS:

Moore

Chartered Accountants

First Floor

29 St Augustine's Parade

Bristol

BS1 4UL

FIXED ASSETS

Intangible assets

4

-

6,300

Tangible assets

5

29,762

39,682

Investments

6

199,214

-

228,976

45,982

CURRENT ASSETS

Debtors

7

101,094

172,302

Cash at bank

393,851

415,428

494,945

587,730

CREDITORS

Amounts falling due within one year

8

192,660

190,428

NET CURRENT ASSETS

302,285

397,302

TOTAL ASSETS LESS CURRENT LIABILITIES

531,261

443,284

CREDITORS

Amounts falling due after more than one year

9

-

(3,386

)

PROVISIONS FOR LIABILITIES

(5,655

)

(7,540

)

NET ASSETS

525,606

432,358

CAPITAL AND RESERVES

Called up share capital

10

10

10

Retained earnings

11

525,596

432,348

SHAREHOLDERS' FUNDS

525,606

432,358

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 18 November 2021 and were signed on its behalf by:

M J Cole - Director

1.	STATUTORY INFORMATION

ETS (FM) 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

Motor vehicles

-

25% on reducing balance

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 7 (2020 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

31,500

AMORTISATION

At 1 April 2020

25,200

Amortisation for year

6,300

At 31 March 2021

31,500

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

6,300

5.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 April 2020

and 31 March 2021

62,345

DEPRECIATION

At 1 April 2020

22,663

Charge for year

9,920

At 31 March 2021

32,583

NET BOOK VALUE

At 31 March 2021

29,762

At 31 March 2020

39,682

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

Motor

vehicles

£

COST

At 1 April 2020

and 31 March 2021

21,345

DEPRECIATION

At 1 April 2020

12,396

Charge for year

2,237

At 31 March 2021

14,633

NET BOOK VALUE

At 31 March 2021

6,712

At 31 March 2020

8,949

6.	FIXED ASSET INVESTMENTS

Other

investment

£

COST

Additions

200,000

At 31 March 2021

200,000

PROVISIONS

Provision for year

786

At 31 March 2021

786

NET BOOK VALUE

At 31 March 2021

199,214

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

98,859

160,863

Prepayments

2,235

11,439

101,094

172,302

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Hire purchase contracts

3,386

5,388

Trade creditors

88,440

79,164

Tax

25,238

46,285

Social security and other taxes

5,431

7,303

VAT

37,923

15,005

Associated company

30,072

33,541

Accrued expenses

2,170

3,742

192,660

190,428

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Hire purchase contracts

-

3,386

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.21

31.3.20

value:

£

£

10

Ordinary Shares

£1

10

10

11.

RESERVES

Retained

earnings

£

At 1 April 2020

432,348

Profit for the year

93,248

At 31 March 2021

525,596

12.	RELATED PARTY DISCLOSURES

The company is controlled by the directors who own 100% of the company's share capital.

During the year, the company purchased goods and services from ETS ( SW ) Limited, a company in which the directors of this company have an interest. The total amount of purchases during the year was £136,285 ( 2020: £132,612). As at the balance sheet date, the company owed £30,071 (2020: £33,541).

There are no formal terms regarding payment and all transactions have been carried out at full market value.