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REGISTERED NUMBER: 06451427 (England and Wales)












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: C A Elliott
D S J Elliott





Secretary: C A Elliott





Registered office: 430 Enterprise Way
Vale Park
Evesham
Worcestershire
WR11 1AD





Registered number: 06451427 (England and Wales)





Accountants: Crowthers Chartered 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 4 111,005 111,005
Investment property 5 1,500,000 1,500,000
1,611,005 1,611,005

CURRENT ASSETS
Debtors 6 38,802 337,515
Cash at bank 1,690,840 1,566,968
1,729,642 1,904,483
CREDITORS
Amounts falling due within one year 7 141,335 98,923
NET CURRENT ASSETS 1,588,307 1,805,560
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,199,312

3,416,565

PROVISIONS FOR LIABILITIES 130,406 112,063
NET ASSETS 3,068,906 3,304,502

CAPITAL AND RESERVES
Called up share capital 8 77,757 77,757
Share premium 29,295 29,295
Capital redemption reserve 35,414 35,414
Retained earnings 2,926,440 3,162,036
3,068,906 3,304,502

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

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

T.L. Elliott & Co Limited (Registered number: 06451427)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 April 2024 and were signed on its behalf by:





D S J Elliott - Director


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 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 3 (2022 - 3 ) .

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 111,005
Net book value
At 31 December 2023 111,005
At 31 December 2022 111,005

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 1,500,000
Net book value
At 31 December 2023 1,500,000
At 31 December 2022 1,500,000

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 7,337 300,000
Other debtors 31,465 37,515
38,802 337,515

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 52,015 51,894
Other creditors 89,320 47,029
141,335 98,923

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.