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Company Registration No. 08880458 (England and Wales)
G D Elliott Ltd Unaudited accounts for the year ended 28 February 2023
G D Elliott Ltd Unaudited accounts Contents
Page
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G D Elliott Ltd Company Information for the year ended 28 February 2023
Director
Gordon Elliott
Company Number
08880458 (England and Wales)
Registered Office
43 Church Street Flint Flintshire CH6 5AD Wales
Accountants
Ruth Elliott & Co 50 Park Lane Hartford Northwich Cheshire CW8 1PY
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of G D Elliott Ltd for the year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of G D Elliott Ltd for the year ended 28 February 2023 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
Ruth Elliott & Co Chartered Accountants 50 Park Lane Hartford Northwich Cheshire CW8 1PY 18 October 2023
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G D Elliott Ltd Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
12,621 
16,827 
Tangible assets
23,244 
- 
35,865 
16,827 
Current assets
Inventories
7,490 
6,093 
Debtors
6,191 
11,639 
Cash at bank and in hand
29,155 
27,689 
42,836 
45,421 
Creditors: amounts falling due within one year
(25,644)
(23,498)
Net current assets
17,192 
21,923 
Total assets less current liabilities
53,057 
38,750 
Creditors: amounts falling due after more than one year
(23,350)
(8,481)
Net assets
29,707 
30,269 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
29,697 
30,259 
Shareholders' funds
29,707 
30,269 
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 October 2023 and were signed on its behalf by
Gordon Elliott Director Company Registration No. 08880458
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G D Elliott Ltd Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
G D Elliott Ltd is a private company, limited by shares, registered in England and Wales, registration number 08880458. The registered office is 43 Church Street, Flint, Flintshire, CH6 5AD, Wales.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill is amortised over a period of 5 years
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
4 years
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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G D Elliott Ltd Notes to the Accounts for the year ended 28 February 2023
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 March 2022
21,033 
At 28 February 2023
21,033 
Amortisation
At 1 March 2022
4,206 
Charge for the year
4,206 
At 28 February 2023
8,412 
Net book value
At 28 February 2023
12,621 
At 28 February 2022
16,827 
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 March 2022
- 
Additions
30,990 
At 28 February 2023
30,990 
Depreciation
Charge for the year
7,746 
At 28 February 2023
7,746 
Net book value
At 28 February 2023
23,244 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
(87)
Trade debtors
6,191 
11,820 
Accrued income and prepayments
- 
(94)
6,191 
11,639 
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G D Elliott Ltd Notes to the Accounts for the year ended 28 February 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
2,495 
2,826 
VAT
225 
- 
Obligations under finance leases and hire purchase contracts
4,082 
- 
Trade creditors
6,941 
3,551 
Taxes and social security
3,434 
9,712 
Other creditors
490 
941 
Loans from directors
7,749 
6,468 
Deferred income
228 
- 
25,644 
23,498 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
6,268 
8,481 
Obligations under finance leases and hire purchase contracts
17,082 
- 
23,350 
8,481 
9
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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