E.P.Engineering Company (Dundee) Limited - Accounts to registrar (filleted) - small 17.3
E.P.Engineering Company (Dundee) Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 May 2017 |
| for |
| E.p. Engineering Company |
| (Dundee) Limited |
| E.p. Engineering Company |
| (Dundee) Limited (Registered number: SC063906) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| E.p. Engineering Company |
| (Dundee) Limited |
| Company Information |
| for the Year Ended 31 May 2017 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Chapelshade House |
| 78-84 Bell Street |
| Dundee |
| DD1 1RQ |
| E.p. Engineering Company |
| (Dundee) Limited (Registered number: SC063906) |
| Balance Sheet |
| 31 May 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve | 9 |
| Retained earnings | 9 |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| E.p. Engineering Company |
| (Dundee) Limited (Registered number: SC063906) |
| Balance Sheet - continued |
| 31 May 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| E.p. Engineering Company |
| (Dundee) Limited (Registered number: SC063906) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2017 |
| 1. | STATUTORY INFORMATION |
| E.p. Engineering Company (Dundee) Limited is a |
| The company's registered number and registered office address can be found on the Company Information page. |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The director has a reasonable expectation that the company has adequate resources to continue in operational |
| existence for the foreseeable future. Thus he continues to adopt the going concern basis of accounting in |
| preparing the annual financial statements. |
| First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
| These financial statements for the year ended 31 May 2017 are the first that are prepared in accordance with |
| FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date |
| of transition to FRS 102 Section 1A is 1 June 2015. |
| 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 |
| Improvements to property | - |
| Plant and machinery | - |
| Motor vehicles | - |
| Office equipment | - |
| 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. |
| E.p. Engineering Company |
| (Dundee) Limited (Registered number: SC063906) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2017 |
| 3. | ACCOUNTING POLICIES - continued |
| 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. |
| Preference shares |
| In accordance with FRS 29 Financial Instruments: Disclosures, the 10% cumulative preference shares have been |
| classified as debt and the dividends paid thereon are treated as an interest expense. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements |
| to | Plant and | Motor | Office |
| property | machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 June 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 May 2017 |
| DEPRECIATION |
| At 1 June 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 May 2017 |
| NET BOOK VALUE |
| At 31 May 2017 |
| At 31 May 2016 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Prepayments and accrued income |
| E.p. Engineering Company |
| (Dundee) Limited (Registered number: SC063906) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2017 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Preference shares | 25,000 | 25,000 |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Preference shares |
| 9. | RESERVES |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 June 2016 | 93,285 |
| Deficit for the year | ( |
) | ( |
) |
| Dividends | ( |
) | ( |
) |
| At 31 May 2017 | 84,545 |
| 10. | RELATED PARTY DISCLOSURES |
| Euthenia Corporate Ltd, a company under the control of the director and shareholder, Liam Torrance, charged |
| consultancy fees to E P Engineering Company (Dundee) Limited during the year totalling £12,000. |
| At the year end a balance of £18,000 was due from Euthenia Corporate Ltd. |
| The controlling party is Liam Torrance. |
| 11. | FIRST YEAR ADOPTION |
| The Company has transitioned to FRS 102 from previously being prepared under the historical cost convention |
| and in accordance with the Financial Reporting Standards for Smaller Entities (effective January 2015) as at 1st |
| June 2016. |