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For the year ended 30 April 2016
Abbreviated Report and Financial Statements
England and Wales
Registered Number: 02588203
2
ETS (UK) Limited
For the year ended 30 April 2016
1
Accountants' Report
2
Balance Sheet
3 to 5
Notes to the Abbreviated Financial Statements
3
ETS (UK) Limited
Chartered Accountants' Report
For the year ended 30 April 2016
Chartered Accountants' Report to the Board of Directors
| In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the |
| accounts of ETS (UK) Limited for the year ended 30 April 2016 which comprise the Profit and Loss Account, the |
| Balance Sheet and the related notes from the company's accounting records and from information and |
| explanations you have given us. |
| As a practising firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its |
| ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of ETS (UK) Limited, as a body, in accordance with the terms of |
| our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of |
| ETS (UK) Limited and state those matters that we have agreed to state to the Board of Directors of ETS (UK) |
| Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest |
| extent permitted by law, we do not accept or assume responsibility to anyone other than ETS (UK) Limited and its |
| Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that ETS (UK) Limited has kept adequate accounting records to prepare statutory accounts |
| that give a true and fair view of the assets, liabilities, financial position and profit of ETS (UK) Limited. You consider |
| that ETS (UK) Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the accounts of ETS (UK) Limited. For this reason, |
| we have not verified the accuracy or completeness of the accounting records or information and explanations you |
| have given to us and we do not, therefore, express any opinion on the statutory accounts. |
Lofthouse & Co
36 Ropergate
Pontefract
West Yorkshire
WF8 1LY
1 of 5
4
| Abbreviated Balance Sheet |
ETS (UK) Limited
2016
2015
2
424
952
3
329,822
311,444
210,974
210,974
4
541,220
523,370
626,974
642,053
527,602
534,232
213,143
290,425
1,389,428
1,445,001
| Creditors: amounts falling due within one year |
(535,282)
(510,858)
909,719
878,570
Net current assets
| Total assets less current liabilities |
1,419,790
1,433,089
(17,882)
(19,869)
| Provisions for liabilities |
1,401,908
Net assets
1,413,220
1,000
5
1,000
1,400,908
1,412,220
1,401,908
1,413,220
Shareholders funds
| For the year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
| Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; |
| 2) 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 in accordance with the provisions applicable to companies subject to the small companies' regime. |
| Date approved by the board: 14 June 2016 |
| Signed on behalf of the board of directors |
2 of 5
5
| Notes to the Abbreviated Financial Statements |
ETS (UK) Limited
For the year ended 30 April 2016
| The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
| The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities. |
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
| Finance lease and hire purchase charges |
| The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding. |
| Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.Deferred tax assets are only recognised if it is more likely than not that they will be recovered either against future taxable profits or against the reversal of other deferred tax liabilities. |
| Proposed dividends are only included as liabilities in the financial statements when their payment has been approved |
| by the shareholders prior to the balance sheet date. |
| Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the |
| estimated expected useful economic life of the goodwill of 25 years. |
3 of 5
6
| Notes to the Abbreviated Financial Statements |
ETS (UK) Limited
For the year ended 30 April 2016
| Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and Machinery
Motor Vehicles
| No depreciation is provided on the company's freehold properties since in the opinion of the directors the expected |
| useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation |
| would be immaterial. The directors undertake an annual impairment review of these properties. |
| Assets on finance lease and hire purchase |
| Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and |
| rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets |
| and depreciated over the shorter of the lease term and their estimated expected useful lives. |
| Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods. |
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
| Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
| 2 Intangible fixed assets |
11,000
11,000
10,048
528
Charge for year
10,576
424
952
4 of 5
7
| Notes to the Abbreviated Financial Statements |
ETS (UK) Limited
For the year ended 30 April 2016
757,803
79,642
(45,029)
792,416
446,359
(42,298)
58,533
Charge for year
462,594
329,822
311,444
| 4 Fixed asset investments |
210,974
210,974
210,974
210,974
| 1,000 Class A shares of £1.00 each |
| Allotted called up and fully paid |
2016
2015
| 1,000 Class A shares of £1.00 each |
1,000
1,000
1,000
1,000
5 of 5
