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REGISTERED NUMBER: 02826734 (England and Wales)















ELTA AUTOMOTIVE LTD

Unaudited Financial Statements for the Year Ended 31 July 2023






ELTA AUTOMOTIVE LTD (REGISTERED NUMBER: 02826734)






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


ELTA AUTOMOTIVE LTD

Company Information
for the Year Ended 31 July 2023







DIRECTORS: Mr I M Hallam
Mr V Palacka





REGISTERED OFFICE: 27 Roman Way
Coleshill
West Midlands
B46 1HQ





REGISTERED NUMBER: 02826734 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

ELTA AUTOMOTIVE LTD (REGISTERED NUMBER: 02826734)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 45,443 28,508

CURRENT ASSETS
Stocks 2,411,895 2,400,341
Debtors 5 6,116,408 5,467,428
Cash at bank 58,942 60,977
8,587,245 7,928,746
CREDITORS
Amounts falling due within one year 6 2,877,450 2,182,403
NET CURRENT ASSETS 5,709,795 5,746,343
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,755,238

5,774,851

CREDITORS
Amounts falling due after more than one
year

7

191,667

291,667
NET ASSETS 5,563,571 5,483,184

CAPITAL AND RESERVES
Called up share capital 142,162 142,162
Share premium 5,531 5,531
Capital redemption reserve 56,666 56,666
Retained earnings 5,359,212 5,278,825
5,563,571 5,483,184

ELTA AUTOMOTIVE LTD (REGISTERED NUMBER: 02826734)

Balance Sheet - continued
31 July 2023


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.

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 16 April 2024 and were signed on its behalf by:





Mr I M Hallam - Director


ELTA AUTOMOTIVE LTD (REGISTERED NUMBER: 02826734)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Elta Automotive Ltd 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.

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.

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 - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance

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 Income Statement, 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.

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.

ELTA AUTOMOTIVE LTD (REGISTERED NUMBER: 02826734)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2022 - 36 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 August 2022 103,538 75,634 33,289 212,461
Additions - - 32,850 32,850
At 31 July 2023 103,538 75,634 66,139 245,311
DEPRECIATION
At 1 August 2022 102,771 75,634 5,548 183,953
Charge for year 767 - 15,148 15,915
At 31 July 2023 103,538 75,634 20,696 199,868
NET BOOK VALUE
At 31 July 2023 - - 45,443 45,443
At 31 July 2022 767 - 27,741 28,508

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,607,670 1,096,558
Amounts owed by group undertakings 4,112,794 3,961,073
Other debtors 395,944 409,797
6,116,408 5,467,428

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 100,000 100,000
Trade creditors 856,104 797,809
Taxation and social security 397,852 111,049
Other creditors 1,523,494 1,173,545
2,877,450 2,182,403

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 191,667 291,667

ELTA AUTOMOTIVE LTD (REGISTERED NUMBER: 02826734)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 291,667 391,667
Invoice finance 1,067,925 587,549
Stocking finance 107,725 352,625
1,467,317 1,331,841

Bank loans are secured by a fixed and floating charge over the company's assets.

The invoice finance and stocking finance are secured by a charge on the company's book debts and charge over the company's assets.