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REGISTERED NUMBER: 02492970 (England and Wales)

















Engineering Control Supplies Limited

Financial Statements

for the Year Ended 31 July 2018






Engineering Control Supplies Limited (Registered number: 02492970)

Contents of the Financial Statements
for the year ended 31 July 2018










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Engineering Control Supplies Limited

Company Information
for the year ended 31 July 2018







DIRECTORS: R Jones
K Perrin



SECRETARY: Mrs E Jones



REGISTERED OFFICE: Roman Hill Trading Estate
Broadmayne
Dorchester
Dorset
DT2 8LY



REGISTERED NUMBER: 02492970 (England and Wales)



ACCOUNTANTS: Read Woodruff
Chartered Accountants
24 Cornwall Road
Dorchester
Dorset
DT1 1RX



BANKERS: HSBC Bank plc
15 Cornhill
Dorchester
Dorset
DT1 1BJ

Engineering Control Supplies Limited (Registered number: 02492970)

Statement of Financial Position
31 July 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 41,410 53,530
Property, plant and equipment 5 1,388,431 1,482,208
Investments 6 15,075 15,075
1,444,916 1,550,813

CURRENT ASSETS
Inventories 176,141 61,935
Debtors 7 311,120 383,577
Cash at bank and in hand 102,397 171,766
589,658 617,278
CREDITORS
Amounts falling due within one year 8 574,645 548,396
NET CURRENT ASSETS 15,013 68,882
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,459,929

1,619,695

CREDITORS
Amounts falling due after more than one
year

9

(321,176

)

(442,090

)

PROVISIONS FOR LIABILITIES (90,927 ) (101,191 )
NET ASSETS 1,047,826 1,076,414

CAPITAL AND RESERVES
Called up share capital 154 154
Capital redemption reserve 288 288
Retained earnings 1,047,384 1,075,972
SHAREHOLDERS' FUNDS 1,047,826 1,076,414

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

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

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 30 April 2019 and were signed on its behalf by:





R Jones - Director


Engineering Control Supplies Limited (Registered number: 02492970)

Notes to the Financial Statements
for the year ended 31 July 2018


1. STATUTORY INFORMATION

Engineering Control Supplies 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.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts,
rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

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.

Patents and licences
Amortisation was provided at 10% on cost per annum in order to write off patents and licences over their
estimated useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

The directors consider that freehold properties are maintained in such a state of repair that their residual value
is at least equal to their net book value. As a result, the corresponding depreciation charge for the year is nil.
The directors perform annual impairment reviews to ensure that the recoverable amount is not lower than the
carrying value.

Stocks
Inventories 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 inventories 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 statement of financial position date.


Engineering Control Supplies Limited (Registered number: 02492970)

Notes to the Financial Statements - continued
for the year ended 31 July 2018


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position 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
statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance
leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital
element of the future payments is treated as a liability.

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 25 (2017 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 August 2017
and 31 July 2018 242,400 6,778 249,178
AMORTISATION
At 1 August 2017 188,870 6,778 195,648
Amortisation for year 12,120 - 12,120
At 31 July 2018 200,990 6,778 207,768
NET BOOK VALUE
At 31 July 2018 41,410 - 41,410
At 31 July 2017 53,530 - 53,530

Engineering Control Supplies Limited (Registered number: 02492970)

Notes to the Financial Statements - continued
for the year ended 31 July 2018


5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 August 2017 826,416 900,285 70,739 157,383 1,954,823
Additions - 975 1,035 26,449 28,459
Disposals - - - (73,951 ) (73,951 )
At 31 July 2018 826,416 901,260 71,774 109,881 1,909,331
DEPRECIATION
At 1 August 2017 - 360,793 39,333 72,489 472,615
Charge for year - 81,070 4,724 19,965 105,759
Eliminated on disposal - - - (57,474 ) (57,474 )
At 31 July 2018 - 441,863 44,057 34,980 520,900
NET BOOK VALUE
At 31 July 2018 826,416 459,397 27,717 74,901 1,388,431
At 31 July 2017 826,416 539,492 31,406 84,894 1,482,208

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 August 2017 480,850 70,897 551,747
Additions - 26,449 26,449
At 31 July 2018 480,850 97,346 578,196
DEPRECIATION
At 1 August 2017 136,071 9,195 145,266
Charge for year 51,717 15,977 67,694
At 31 July 2018 187,788 25,172 212,960
NET BOOK VALUE
At 31 July 2018 293,062 72,174 365,236
At 31 July 2017 344,779 61,702 406,481

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 August 2017
and 31 July 2018 15,075
NET BOOK VALUE
At 31 July 2018 15,075
At 31 July 2017 15,075

Engineering Control Supplies Limited (Registered number: 02492970)

Notes to the Financial Statements - continued
for the year ended 31 July 2018


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 283,860 235,607
Other debtors 5,000 100,000
Corporation tax recoverable - 21,334
Prepayments and accrued income 22,260 26,636
311,120 383,577

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts 185,398 139,338
Hire purchase contracts 56,506 79,897
Trade creditors 198,907 186,563
UK corporation tax 52,385 56,124
Tax and social security costs 16,661 13,282
Other creditors 34,517 38,579
Directors' current accounts 2,264 2,264
Accruals and deferred income 28,007 32,349
574,645 548,396

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2018 2017
£    £   
Bank loans 205,144 295,596
Hire purchase contracts 116,032 146,494
321,176 442,090

10. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank overdrafts 98,097 56,162
Bank loans 292,445 378,772
Hire purchase contracts 172,538 226,391
563,080 661,325

HSBC Bank plc loan, overdraft and credit card facilities are secured by a debenture created on 8 October 2014
comprising fixed and floating charges over all property and assets, present and future, together with a legal
mortgage over the company's freehold property created 4 November 2014.

Hire purchase liabilities are secured on the assets concerned.

11. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments totalling £8,835.

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £125,000 (2017 - £180,000) were paid to the directors .