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E T L DEVELOPMENTS LIMITED

Registered Number
05303384
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2022

E T L DEVELOPMENTS LIMITED
Company Information
for the year from 1 January 2022 to 31 December 2022

Directors

CARTER, Tina Michelle
HIRST, John Edward
HIRST, Luke William
HIRST, Scott Anthony

Registered Address

Hundhill House, Hundhill Lane
East Hardwick
Pontefract
WF8 3DZ

Registered Number

05303384 (England and Wales)
E T L DEVELOPMENTS LIMITED
Statement of Financial Position
31 December 2022

Notes

2022

2021

£

£

£

£

Fixed assets
Intangible assets5101,142
Tangible assets6722,10078,338
722,11079,480
Current assets
Stocks838,45541,295
Debtors972,12577,594
Cash at bank and on hand187,203204,421
297,783323,310
Creditors amounts falling due within one year10(660,216)(546,583)
Net current assets (liabilities)(362,433)(223,273)
Total assets less current liabilities359,677(143,793)
Creditors amounts falling due after one year11(371,865)-
Net assets(12,188)(143,793)
Capital and reserves
Profit and loss account(12,188)(143,793)
Shareholders' funds(12,188)(143,793)
The financial statements were approved and authorised for issue by the Board of Directors on 29 September 2023, and are signed on its behalf by:
CARTER, Tina Michelle
Director
Registered Company No. 05303384
E T L DEVELOPMENTS LIMITED
Notes to the Financial Statements
for the year ended 31 December 2022

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Basis of measurement used in financial statements
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
3.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-25
Plant and machinery25-
Vehicles25-
Office Equipment25-
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Employee benefits policy
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Going concern
The directors have concluded that the company remains a going concern.
4.Employee information

20222021
Average number of employees during the year52
5.Intangible assets

Other

Total

££
Cost or valuation
At 01 January 225,7105,710
At 31 December 225,7105,710
Amortisation and impairment
At 01 January 224,5684,568
Charge for year1,1321,132
At 31 December 225,7005,700
Net book value
At 31 December 221010
At 31 December 211,1421,142
6.Property, plant and equipment

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 January 2294,13551,86324,9322,678173,608
Additions578,35587,12411,41358676,950
Disposals--(7,739)-(7,739)
Transfers-387--387
At 31 December 22672,490139,37428,6062,736843,206
Depreciation and impairment
At 01 January 2244,89224,82323,1042,45195,270
Charge for year-29,8681,9608031,908
On disposals--(6,072)-(6,072)
At 31 December 2244,89254,69118,9922,531121,106
Net book value
At 31 December 22627,59884,6839,614205722,100
At 31 December 2149,24327,0401,82822778,338
7.Description of nature of transactions and balances with related parties
At the year end the company owed the directors £462,680, (2021: £499,656), This is an interest free loan.
8.Stocks

2022

2021

££
Work in progress38,45541,295
Total38,45541,295
9.Debtors

2022

2021

££
Trade debtors / trade receivables40,70112,976
Other debtors8,26042,236
Prepayments and accrued income23,164-
Deferred tax asset, debtors-22,382
Total72,12577,594
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Creditors within one year

2022

2021

££
Trade creditors / trade payables83,92841,876
Bank borrowings and overdrafts34,830-
Taxation and social security3,030600
Other creditors535,327501,487
Accrued liabilities and deferred income3,1012,620
Total660,216546,583
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
11.Creditors after one year

2022

2021

££
Bank borrowings and overdrafts371,865-
Total371,865-
The bank loan is secured by a charge over the assets of the company.
12.Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of financial position.