Electrification Construction Services Lt - Accounts to registrar (filleted) - small 23.2.5
Electrification Construction Services Lt - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| ELECTRIFICATION CONSTRUCTION SERVICES |
| LTD |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
| ELECTRIFICATION CONSTRUCTION SERVICES |
| LTD (REGISTERED NUMBER: 10324327) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| ELECTRIFICATION CONSTRUCTION SERVICES |
| LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 AUGUST 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ELECTRIFICATION CONSTRUCTION SERVICES |
| LTD (REGISTERED NUMBER: 10324327) |
| BALANCE SHEET |
| 31 AUGUST 2023 |
| 2023 | 2022 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Revaluation reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| ELECTRIFICATION CONSTRUCTION SERVICES |
| LTD (REGISTERED NUMBER: 10324327) |
| BALANCE SHEET - continued |
| 31 AUGUST 2023 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| ELECTRIFICATION CONSTRUCTION SERVICES |
| LTD (REGISTERED NUMBER: 10324327) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2023 |
| 1. | STATUTORY INFORMATION |
| Electrification Construction Services Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: |
| Rendering of services |
| When the outcome of a transaction can be estimated reliably, turnover from rail and construction services are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the date the service is provided. |
| Interest receivable |
| Interest income is recognised using the effective interest method. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation, less any accumulated depreciation and accumulated impairment losses. |
| Increases in the carrying amount arising on revaluation are recognised in other comprehensive income and shown as revaluation reserve in shareholders' funds. Decreases that offset previous increases of the same asset are first charged in other comprehensive income to the extent of the remaining surplus attributable to that asset; all other decreases are charged to the profit and loss. |
| ELECTRIFICATION CONSTRUCTION SERVICES |
| LTD (REGISTERED NUMBER: 10324327) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 Profit and Loss Account, 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. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 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. |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| ELECTRIFICATION CONSTRUCTION SERVICES |
| LTD (REGISTERED NUMBER: 10324327) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Loans and borrowings |
| Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST OR VALUATION |
| At 1 September 2022 |
| Additions |
| Disposals | ( |
) |
| Revaluations |
| At 31 August 2023 |
| DEPRECIATION |
| At 1 September 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 August 2023 |
| NET BOOK VALUE |
| At 31 August 2023 |
| At 31 August 2022 |
| Cost or valuation at 31 August 2023 is represented by: |
| Plant and |
| machinery |
| etc |
| £ |
| Valuation in 2022 | 103,151 |
| Valuation in 2023 | 106,742 |
| Cost | 1,593,457 |
| 1,803,350 |
| ELECTRIFICATION CONSTRUCTION SERVICES |
| LTD (REGISTERED NUMBER: 10324327) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2023 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST OR VALUATION |
| At 1 September 2022 |
| Additions |
| Disposals | ( |
) |
| At 31 August 2023 |
| DEPRECIATION |
| At 1 September 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 August 2023 |
| NET BOOK VALUE |
| At 31 August 2023 |
| At 31 August 2022 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Tax |
| Prepayments and accrued income |
| ELECTRIFICATION CONSTRUCTION SERVICES |
| LTD (REGISTERED NUMBER: 10324327) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2023 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans and overdrafts (see note 8) |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 319,781 | 253,352 |
| Other creditors |
| Directors' current accounts | 21,653 | 15,391 |
| Accruals and deferred income |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans (see note 8) |
| Hire purchase contracts |
| 8. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2023 | 2022 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| ELECTRIFICATION CONSTRUCTION SERVICES |
| LTD (REGISTERED NUMBER: 10324327) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2023 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2023 | 2022 |
| £ | £ |
| Hire purchase contracts | 528,468 | 755,800 |
| Factoring account | 416,503 | 256,028 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2023 | 2022 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 11. | OTHER FINANCIAL COMMITMENTS |
| Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £20,842 (2022: £38,780). |
| 12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 August 2023 and 31 August 2022: |
| 2023 | 2022 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| ELECTRIFICATION CONSTRUCTION SERVICES |
| LTD (REGISTERED NUMBER: 10324327) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2023 |
| 12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| The loans to the directors are repayable on demand. The company has charged interest at a rate of 2% on the outstanding balance. |