Eurotech Services (UK) Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 01864195 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

EUROTECH SERVICES (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T J M Bulmer

M Plasted

J Wiblin

REGISTERED OFFICE:

5 Marchmont Gate

Boundary Way

Hemel Hempstead

Hertfordshire

HP2 7BF

REGISTERED NUMBER:

01864195 (England and Wales)

FIXED ASSETS

Tangible assets

4

532,669

491,150

CURRENT ASSETS

Stocks

26,486

23,621

Debtors

5

169,011

169,792

Prepayments and accrued income

9,458

7,566

Cash at bank and in hand

122,217

65,905

327,172

266,884

CREDITORS

Amounts falling due within one year

6

165,897

130,282

NET CURRENT ASSETS

161,275

136,602

TOTAL ASSETS LESS CURRENT LIABILITIES

693,944

627,752

CREDITORS

Amounts falling due after more than one year

7

67,599

95,813

NET ASSETS

626,345

531,939

CAPITAL AND RESERVES

Called up share capital

26,000

26,000

Revaluation reserve

8

54,545

29,545

Retained earnings

545,800

476,394

SHAREHOLDERS' FUNDS

626,345

531,939

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 6 September 2017 and were signed on its behalf by:

T J M Bulmer - Director

1.	STATUTORY INFORMATION

Eurotech Services (UK) 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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 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.

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 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1 April 2016

475,000

22,031

4,658

27,138

528,827

Additions

-

-

-

33,995

33,995

Disposals

-

-

-

(20,698

)

(20,698

)

Revaluations

25,000

-

-

-

25,000

At 31 March 2017

500,000

22,031

4,658

40,435

567,124

DEPRECIATION

At 1 April 2016

-

21,769

3,942

11,966

37,677

Charge for year

-

65

179

8,500

8,744

Eliminated on disposal

-

-

-

(11,966

)

(11,966

)

At 31 March 2017

-

21,834

4,121

8,500

34,455

NET BOOK VALUE

At 31 March 2017

500,000

197

537

31,935

532,669

At 31 March 2016

475,000

262

716

15,172

491,150

Cost or valuation at 31 March 2017 is represented by:

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Valuation in 2008

436,041

-

-

-

436,041

Valuation in 2009

(11,041

)

-

-

-

(11,041

)

Valuation in 2011

(25,000

)

-

-

-

(25,000

)

Valuation in 2012

(25,000

)

-

-

-

(25,000

)

Valuation in 2016

100,000

-

-

-

100,000

Valuation in 2017

25,000

-

-

-

25,000

Cost

-

22,031

4,658

40,435

67,124

500,000

22,031

4,658

40,435

567,124

If freehold property had not been revalued it would have been included at the following historical

cost:

2017

2016

£

£

Cost

436,041

436,041

Freehold property was valued on an open market basis on 31 March 2017 by Brasier Freeth LLP .

The open market valuation by Brasier Freeth LLP is that the value of the property was £500,000 at the

balance sheet date.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

169,011

169,792

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

92,290

71,789

Tax

19,024

10,080

Social security and other taxes

50,831

43,411

Other creditors

3,750

5,000

Directors' current accounts

2

2

165,897

130,282

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans more 5 yr by instal

67,599

95,813

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

67,599

95,813

8.

RESERVES

Revaluation

reserve

£

At 1 April 2016

29,545

Surplus/(deficit) on revaluation of freehold property

25,000

At 31 March 2017

54,545

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party was Mr T J M Bulmer (director) who owns 94% of the issued ordinary

shares.