REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
T.L. Elliott & Co Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
T.L. Elliott & Co Limited |
T.L. Elliott & Co Limited (Registered number: 06451427) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
T.L. Elliott & Co Limited |
Company Information |
for the Year Ended 31 December 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
19 High Street |
Pershore |
Worcestershire |
WR10 1AA |
T.L. Elliott & Co Limited (Registered number: 06451427) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Share premium |
Capital redemption reserve |
Retained earnings |
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. |
T.L. Elliott & Co Limited (Registered number: 06451427) |
Balance Sheet - continued |
31 December 2023 |
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 and authorised for issue on |
T.L. Elliott & Co Limited (Registered number: 06451427) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
T.L. Elliott & Co Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investment property |
Investment property is carried at fair value derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income. |
Taxation |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset. |
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 |
T.L. Elliott & Co Limited (Registered number: 06451427) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 January 2023 |
and 31 December 2023 |
Net book value |
At 31 December 2023 |
At 31 December 2022 |
The company owns 100% of the ordinary share capital of The Mad Group (HQ) Limited (registered number 00188425) and Align-Pilates Equipment Limited (registered number 09206328). Both companies are incorporated in England and Wales. The registered office is 430 Enterprise Way, Vale Park, Evesham, Worcestershire, WR11 1AD. The principal activity of both subsidiaries was that of importers and exporters, trading as product distribution companies. |
The company also owns 100% of the issued share capital of Fitness-Mad Limited (registered number 06452300) and Yoga-Mad Limited (registered number 06453797). Both companies are incorporated in England and Wales, have registered offices at 430 Enterprise Way, Vale Park, Evesham, Worcestershire, WR11 1AD and are dormant. |
5. | INVESTMENT PROPERTY |
Total |
£ |
Fair value |
At 1 January 2023 |
and 31 December 2023 |
Net book value |
At 31 December 2023 |
At 31 December 2022 |
Fair value at 31 December 2023 is represented by: |
£ |
Valuation in 2018 | 289,807 |
Valuation in 2020 | 50,000 |
Valuation in 2022 | 250,000 |
Cost | 910,193 |
1,500,000 |
T.L. Elliott & Co Limited (Registered number: 06451427) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
5. | INVESTMENT PROPERTY - continued |
If investment property had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 910,193 | 910,193 |
Freehold investment property was valued on an open market basis on 31 December 2023 by the Directors . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Taxation and social security |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid |
Number | Nominal Value | £ | £ |
76,385 | Ordinary | 0.1 | 76,385 | 76,385 |
1 | Ordinary A | 1 | 1 | 1 |
1 | Ordinary B | 1 | 1 | 1 |
13,702 | Ordinary C | 0.1 | 1370 | 1,370 |
77,757 | 77,757 |
9. | ULTIMATE CONTROLLING PARTY |
The directors do not consider there to be an ultimate controlling party. |
The company and its subsidiary undertaking comprise a small group. The company has therefore taken advantage of the exemption available under section 398 of the Companies Act 2006 not to prepare group accounts. |