Esse Engineering Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06568876 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2018

FOR

ESSE ENGINEERING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Ashby

M Ashby

M S Blewitt

M C Nutter

SECRETARY:

Mrs A L Ashby

REGISTERED OFFICE:

Ouzledale Foundry

Long Ing

Barnoldswick

Lancashire

BB18 6BJ

REGISTERED NUMBER:

06568876 (England and Wales)

AUDITORS:

Ainsworths Limited

Chartered Accountants

and Statutory Auditors

Charter House

Stansfield Street

Nelson

Lancashire

BB9 9XY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

253,045

349,545

253,045

349,545

CURRENT ASSETS

Stocks

783,964

756,752

Debtors

6

1,369,901

1,134,376

Cash at bank and in hand

460,423

372,517

2,614,288

2,263,645

CREDITORS

Amounts falling due within one year

7

1,430,044

1,308,393

NET CURRENT ASSETS

1,184,244

955,252

TOTAL ASSETS LESS CURRENT LIABILITIES

1,437,289

1,304,797

PROVISIONS FOR LIABILITIES

35,552

43,719

NET ASSETS

1,401,737

1,261,078

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

1,401,736

1,261,077

SHAREHOLDERS' FUNDS

1,401,737

1,261,078

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 8th January 2019 and were signed on its behalf by:

M Ashby - Director

1.	STATUTORY INFORMATION

Esse Engineering 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

The company's ultimate parent company is Ouzledale Foundry Company Limited whose registered office is

Ouzledale Foundry, Long Ing Lane, Barnoldswick, England, BB18 6BJ.

Turnover

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

value added tax and other sales taxes.

Turnover will only be recognised when significant risks and rewards have passed to the buyer, usually on

dispatch of the goods, the amount of turnover can be measured reliably, it is probable that the economic benefits

associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect to the

transaction can be measured reliably.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

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 etc

-

25% on cost, 20% on cost and 20% to 33.33% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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 85 (2017 - 70 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st July 2017

and 30th June 2018

25,000

AMORTISATION

At 1st July 2017

and 30th June 2018

25,000

NET BOOK VALUE

At 30th June 2018

-

At 30th June 2017

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st July 2017

895,816

Additions

75,169

Disposals

(57,989

)

At 30th June 2018

912,996

DEPRECIATION

At 1st July 2017

546,271

Charge for year

132,813

Eliminated on disposal

(19,133

)

At 30th June 2018

659,951

NET BOOK VALUE

At 30th June 2018

253,045

At 30th June 2017

349,545

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade debtors

752,120

681,411

Amounts owed by group undertakings

539,928

342,267

Other debtors

77,853

110,698

1,369,901

1,134,376

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade creditors

499,775

567,677

Amounts owed to group undertakings

774,166

578,876

Taxation and social security

89,382

62,724

Other creditors

66,721

99,116

1,430,044

1,308,393

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Sunter FCA (Senior Statutory Auditor)

for and on behalf of Ainsworths Limited