Company Registration No. 01286745 (England and Wales)
Econogard Services Limited
Unaudited accounts
for the year ended 30 June 2022
Econogard Services Limited
Unaudited accounts
Contents
Econogard Services Limited
Company Information
for the year ended 30 June 2022
Directors
S A Sparkes
C P F Start
Company Number
01286745 (England and Wales)
Registered Office
Unit 6, Burlington Park
Station Road
Foxton
Cambs
CB22 6SA
Accountants
Blanche & Co
4E The Lanterns
16 Melbourn Street
Royston
Herts
SG8 7BX
Econogard Services Limited
Statement of financial position
as at 30 June 2022
Tangible assets
9,030
22,185
Inventories
425,261
430,263
Cash at bank and in hand
331,268
329,104
Creditors: amounts falling due within one year
(371,286)
(296,104)
Net current assets
774,707
706,290
Total assets less current liabilities
783,737
728,475
Provisions for liabilities
Net assets
782,183
728,475
Called up share capital
100
100
Profit and loss account
782,083
728,375
Shareholders' funds
782,183
728,475
For the year ending 30 June 2022 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 19 December 2022 and were signed on its behalf by
C P F Start
Director
Company Registration No. 01286745
Econogard Services Limited
Notes to the Accounts
for the year ended 30 June 2022
Econogard Services Limited is a private company, limited by shares, registered in England and Wales, registration number 01286745. The registered office is Unit 6, Burlington Park, Station Road, Foxton, Cambs, CB22 6SA.
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.
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.
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
15% reducing balance basis
Motor vehicles
25% straight line basis
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit and loss as incurred. Net realisable value is based on the estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Econogard Services Limited
Notes to the Accounts
for the year ended 30 June 2022
Taxation represents the sum of tax currently payable and deferred tax. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted to the end of the reporting period.
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the assets realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2021
75,361
8,849
-
84,210
Disposals
(44,442)
(8,849)
-
(53,291)
At 30 June 2022
30,919
-
1,492
32,411
At 1 July 2021
57,601
4,424
-
62,025
Charge for the year
4,999
2,212
210
7,421
On disposals
(39,429)
(6,636)
-
(46,065)
At 30 June 2022
23,171
-
210
23,381
At 30 June 2022
7,748
-
1,282
9,030
At 30 June 2021
17,760
4,425
-
22,185
Amounts falling due within one year
Trade debtors
339,952
207,495
Other debtors
49,512
35,532
6
Creditors: amounts falling due within one year
2022
2021
Trade creditors
179,501
136,695
Taxes and social security
78,568
74,162
Other creditors
113,217
85,247
7
Average number of employees
During the year the average number of employees was 22 (2021: 20).
