Equilibrium Chemical Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04795027 (England and Wales)

Financial Statements for the Year Ended 31st July 2018

for

Equilibrium Chemical Services Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C W Lloyd-Adams

P J Harris

A B Bellamy

REGISTERED OFFICE:

Unit 5, Merebrook Business Park

Hanley Road

Welland

Malvern

Worcestershire

WR13 6NP

REGISTERED NUMBER:

04795027 (England and Wales)

ACCOUNTANTS:

John Yelland & Company

Chartered Certified Accountants

Thorneloe House

25 Barbourne Road

Worcester

Worcestershire

WR1 1RU

FIXED ASSETS

Tangible assets

4

397,083

408,653

CURRENT ASSETS

Stocks

177,674

122,866

Debtors

1,286,300

1,215,364

Cash at bank and in hand

331,480

612,798

1,795,454

1,951,028

CREDITORS

Amounts falling due within one year

1,033,948

1,083,917

NET CURRENT ASSETS

761,506

867,111

TOTAL ASSETS LESS CURRENT LIABILITIES

1,158,589

1,275,764

CREDITORS

Amounts falling due after more than one year

5

(93,790

)

(106,496

)

PROVISIONS FOR LIABILITIES

(10,800

)

(12,491

)

NET ASSETS

1,053,999

1,156,777

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

1,053,699

1,156,477

SHAREHOLDERS' FUNDS

1,053,999

1,156,777

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2018 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st July 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 3rd December 2018 and were signed on its behalf by:

C W Lloyd-Adams - Director

1.	STATUTORY INFORMATION

Equilibrium Chemical Services Ltd 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.

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.

Freehold property

-

Straight line over 5 years

Plant and machinery

-

33% on cost and 25% on cost

Fixtures and fittings

-

33% on cost, 25% on cost and 15% on reducing balance

Motor vehicles

-

25% on reducing balance

INVESTMENTS IN SUBSIDIARIES

Investments in subsidiary undertakings are recognised at cost.

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.

FOREIGN CURRENCIES

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

HIRE PURCHASE AND LEASING COMMITMENTS

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2017 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st August 2017

699,496

Additions

48,965

Disposals

(18,747

)

At 31st July 2018

729,714

DEPRECIATION

At 1st August 2017

290,843

Charge for year

59,943

Eliminated on disposal

(18,155

)

At 31st July 2018

332,631

NET BOOK VALUE

At 31st July 2018

397,083

At 31st July 2017

408,653

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2018

2017

£

£

Repayable by instalments

Bank loans more 5 yr by instal

39,323

54,226

6.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

106,642

119,245