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REGISTERED NUMBER: 02175151 (England and Wales)












Unaudited Financial Statements

For The Year Ended 31 July 2023

for

Elan Sales Limited

Elan Sales Limited (Registered number: 02175151)






Contents of the Financial Statements
For The Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Elan Sales Limited

Company Information
For The Year Ended 31 July 2023







DIRECTORS: T C Smith
D Smith





REGISTERED OFFICE: 22 Parham Drive
Eastleigh
SO50 4NU





REGISTERED NUMBER: 02175151 (England and Wales)





ACCOUNTANTS: Butler & Co (Bishops Waltham) Limited
Chartered Accountants
Avalon House
Waltham Business Park
Brickyard Road, Swanmore
Southampton
Hampshire
SO32 2SA

Elan Sales Limited (Registered number: 02175151)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 105,839 105,017

CURRENT ASSETS
Stocks 1,002,242 781,902
Debtors 6 201,771 265,969
Cash at bank 137,940 46,997
1,341,953 1,094,868
CREDITORS
Amounts falling due within one year 7 351,173 242,354
NET CURRENT ASSETS 990,780 852,514
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,096,619

957,531

CREDITORS
Amounts falling due after more than one
year

8

(42,621

)

(49,419

)

PROVISIONS FOR LIABILITIES (21,839 ) (18,703 )
NET ASSETS 1,032,159 889,409

CAPITAL AND RESERVES
Called up share capital 444 444
Retained earnings 1,031,715 888,965
1,032,159 889,409

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

Elan Sales Limited (Registered number: 02175151)

Balance Sheet - continued
31 July 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2024 and were signed on its behalf by:





D Smith - Director


Elan Sales Limited (Registered number: 02175151)

Notes to the Financial Statements
For The Year Ended 31 July 2023

1. STATUTORY INFORMATION

Elan Sales 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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

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 - 20% reducing balance basis
Fixtures and equipment - 20% reducing balance basis
Motor vehicles - 25% reducing balance basis

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Elan Sales Limited (Registered number: 02175151)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 12 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery equipment
£    £    £   
COST
At 1 August 2022 1,586 46,242 88,218
Additions - - 14,541
Disposals - - -
At 31 July 2023 1,586 46,242 102,759
DEPRECIATION
At 1 August 2022 1,586 37,053 74,665
Charge for year - 1,835 5,616
Eliminated on disposal - - -
At 31 July 2023 1,586 38,888 80,281
NET BOOK VALUE
At 31 July 2023 - 7,354 22,478
At 31 July 2022 - 9,189 13,553

Elan Sales Limited (Registered number: 02175151)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2022 183,907 7,309 327,262
Additions 19,995 1,133 35,669
Disposals (14,495 ) - (14,495 )
At 31 July 2023 189,407 8,442 348,436
DEPRECIATION
At 1 August 2022 107,113 1,828 222,245
Charge for year 23,835 2,110 33,396
Eliminated on disposal (13,044 ) - (13,044 )
At 31 July 2023 117,904 3,938 242,597
NET BOOK VALUE
At 31 July 2023 71,503 4,504 105,839
At 31 July 2022 76,794 5,481 105,017

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 177,778 233,053
Other debtors 14,096 25,684
Prepayments 9,897 7,232
201,771 265,969

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 13,412 12,409
Trade creditors 128,390 65,775
Tax 38,682 35,955
Social security and other taxes 13,355 11,586
VAT 46,311 8,526
Other creditors 38,086 36,229
Net wages payable 420 539
Pension contributions payable - 318
Directors' current accounts 590 590
Directors' loan accounts 40,000 40,000
Accruals and deferred income 21,927 20,427
351,173 242,354

Elan Sales Limited (Registered number: 02175151)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans - 2-5 years 18,333 28,333
Hire purchase contracts 24,288 21,086
42,621 49,419

9. OTHER FINANCIAL COMMITMENTS

The total of future minimum lease payments under non-cancellable operating leases are £59,380 (2022: £43,825).

10. RELATED PARTY DISCLOSURES

During the year there were loan balances due to related parties of £40,000 on which interest was charged at 5% per annum.