EG Technology Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04409934 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

EG Technology Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

7

DIRECTORS:

D P Godfrey MENG

A J Ede MENG

REGISTERED OFFICE:

Farfield House

Albert Road

Stow-cum-Quy

Cambridge

CB25 9AR

REGISTERED NUMBER:

04409934 (England and Wales)

ACCOUNTANTS:

Lanham and Company Limited

Chartered Accountants

9 Great Chesterford Court

London Road

Great Chesterford

Essex

CB10 1PF

FIXED ASSETS

Tangible assets

4

44,329

62,454

CURRENT ASSETS

Debtors

5

503,340

509,571

Cash at bank and in hand

510,285

371,336

1,013,625

880,907

CREDITORS

Amounts falling due within one year

6

331,681

289,117

NET CURRENT ASSETS

681,944

591,790

TOTAL ASSETS LESS CURRENT LIABILITIES

726,273

654,244

PROVISIONS FOR LIABILITIES

8

2,664

3,330

NET ASSETS

723,609

650,914

CAPITAL AND RESERVES

Called up share capital

9

102

102

Retained earnings

723,507

650,812

SHAREHOLDERS' FUNDS

723,609

650,914

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 23 November 2017 and were signed on its behalf by:

A J Ede MENG - Director

1.	STATUTORY INFORMATION

EG Technology 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.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Revenue from the rendering of services is only recognised when the outcome of a transaction can be estimated

reliably and is then recognised according to the stage of completion of the transaction at the end of the reporting

period.

Tangible fixed assets

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

Improvements to property

-

20% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

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.

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.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice

of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three

months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant

risk of change in value.

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. If an arrangement

constitutes a finance transaction it is measure at present value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2016

67,404

24,163

13,723

57,699

162,989

Additions

-

2,089

-

2,216

4,305

Disposals

-

-

-

(987

)

(987

)

At 31 March 2017

67,404

26,252

13,723

58,928

166,307

DEPRECIATION

At 1 April 2016

26,962

17,981

8,531

47,061

100,535

Charge for year

13,481

1,241

779

6,929

22,430

Eliminated on disposal

-

-

-

(987

)

(987

)

At 31 March 2017

40,443

19,222

9,310

53,003

121,978

NET BOOK VALUE

At 31 March 2017

26,961

7,030

4,413

5,925

44,329

At 31 March 2016

40,442

6,182

5,192

10,638

62,454

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

429,124

402,398

Other debtors

74,216

107,173

503,340

509,571

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

56,846

20,620

Taxation and social security

170,154

223,419

Other creditors

104,681

45,078

331,681

289,117

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.17

31.3.16

£

£

Between one and five years

176,000

246,400

The operating lease is in respect of premises rental.

8.	PROVISIONS FOR LIABILITIES

31.3.17

31.3.16

£

£

Deferred tax

Accelerated capital allowances

3,300

4,000

Tax losses carried forward

(636

)

(670

)

2,664

3,330

Deferred

tax

£

Balance at 1 April 2016

3,330

Credit to Income Statement during year

(666

)

Balance at 31 March 2017

2,664

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

100

A Ordinary

£1

100

100

2

B Ordinary

£1

2

2

102

102

10.	FIRST YEAR ADOPTION

This is the first year that the company has presented its financial statements under Financial Reporting Standard

102 1A (FRS 102 1A). The following disclosures are required in the year of transition. The last financial

statements under previous UK GAAP were for the year ended 31 March 2016 and the date of transition to FRS

102 1A was therefore 1 April 2015.

No transition adjustments were required as a consequence of adopting FRS 102 1A.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of EG Technology Limited for the year ended 31 March 2017 which comprise the Income

Statement, Balance Sheet, and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of EG Technology Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of EG Technology Limited and state those matters that we have agreed to state to the Board of Directors of EG Technology Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than EG Technology Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that EG Technology Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of EG Technology Limited. You consider that EG Technology 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 financial statements of EG Technology 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 financial statements.

Lanham and Company Limited

Chartered Accountants

9 Great Chesterford Court

London Road

Great Chesterford

Essex

CB10 1PF

4 December 2017