Essex Telecom Installations Limited 31/05/2023 iXBRL

Essex Telecom Installations Limited 31/05/2023 iXBRL

ESSEX TELECOM INSTALLATIONS LIMITED - Company Information

Print Friendly Version

2 31/05/2023 2023-05-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-06-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 03361413 2022-06-01 2023-05-31 03361413 2023-05-31 03361413 2022-05-31 03361413 2021-06-01 2022-05-31 03361413 2022-05-31 03361413 core:PlantMachinery 2022-06-01 2023-05-31 03361413 core:FurnitureFittingsToolsEquipment 2022-06-01 2023-05-31 03361413 bus:RegisteredOffice 2022-06-01 2023-05-31 03361413 bus:LeadAgentIfApplicable 2022-06-01 2023-05-31 03361413 bus:Director1 2022-06-01 2023-05-31 03361413 bus:Director2 2022-06-01 2023-05-31 03361413 bus:CompanySecretary1 2022-06-01 2023-05-31 03361413 core:PlantMachinery 2022-05-31 03361413 core:FurnitureFittingsToolsEquipment 2022-05-31 03361413 core:PlantMachinery 2023-05-31 03361413 core:FurnitureFittingsToolsEquipment 2023-05-31 03361413 core:WithinOneYear 2023-05-31 03361413 core:WithinOneYear 2022-05-31 03361413 core:AfterOneYear 2023-05-31 03361413 core:AfterOneYear 2022-05-31 03361413 core:ShareCapital 2023-05-31 03361413 core:ShareCapital 2022-05-31 03361413 core:RetainedEarningsAccumulatedLosses 2023-05-31 03361413 core:RetainedEarningsAccumulatedLosses 2022-05-31 03361413 core:PlantMachinery 2022-05-31 03361413 core:FurnitureFittingsToolsEquipment 2022-05-31 03361413 bus:SmallEntities 2022-06-01 2023-05-31 03361413 bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 03361413 bus:FullAccounts 2022-06-01 2023-05-31 03361413 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 03361413 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 03361413 1 2022-06-01 2023-05-31
Company registration number: 03361413
Essex Telecom Installations Limited
Unaudited filleted financial statements
31 May 2023
Essex Telecom Installations Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Essex Telecom Installations Limited
Directors and other information
Directors Mr C D P Cotton
Miss A C Cotton
Secretary C D P Cotton
Company number 03361413
Registered office Office 1 Riverside Court
24 Lower Southend Road
Wickford
SS11 8AW
Accountants Hill Allen (Wickford) Limited
Office 1 Riverside Court
24 Lower Southend Road
Wickford
SS11 8AW
Bankers Barclays Bank plc
Hainault
Leicestershire
L87 2BB
Essex Telecom Installations Limited
Statement of financial position
31 May 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 433 578
_______ _______
433 578
Current assets
Stocks 1,500 1,050
Debtors 6 1,080 3,886
Cash at bank and in hand 17,972 6,126
_______ _______
20,552 11,062
Creditors: amounts falling due
within one year 7 ( 10,391) ( 6,944)
_______ _______
Net current assets 10,161 4,118
_______ _______
Total assets less current liabilities 10,594 4,696
Creditors: amounts falling due
after more than one year 8 ( 8,250) ( 11,250)
_______ _______
Net assets/(liabilities) 2,344 ( 6,554)
_______ _______
Capital and reserves
Called up share capital 110 110
Profit and loss account 2,234 ( 6,664)
_______ _______
Shareholders funds/(deficit) 2,344 ( 6,554)
_______ _______
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 21 September 2023 , and are signed on behalf of the board by:
Mr C D P Cotton
Director
Company registration number: 03361413
Essex Telecom Installations Limited
Notes to the financial statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Office 1 Riverside Court, 24 Lower Southend Road, Wickford, SS11 8AW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland.The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 June 2022 and 31 May 2023 3,737 12,595 16,332
_______ _______ _______
Depreciation
At 1 June 2022 3,533 12,221 15,754
Charge for the year 51 94 145
_______ _______ _______
At 31 May 2023 3,584 12,315 15,899
_______ _______ _______
Carrying amount
At 31 May 2023 153 280 433
_______ _______ _______
At 31 May 2022 204 374 578
_______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 120 3,283
Other debtors 960 603
_______ _______
1,080 3,886
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 3,000 3,000
Corporation tax 3,169 1,596
Social security and other taxes 410 804
Other creditors 3,812 1,544
_______ _______
10,391 6,944
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 8,250 11,250
_______ _______
9. Controlling party
The company is controlled by the director C Cotton .