Company Registration No. SC187490 (Scotland)
E.T.A. Enclosures (UK) Limited
Unaudited accounts
for the year ended 31 December 2023
E.T.A. Enclosures (UK) Limited
Unaudited accounts
Contents
E.T.A. Enclosures (UK) Limited
Company Information
for the year ended 31 December 2023
Company Number
SC187490 (Scotland)
Registered Office
168 Bath Street
Glasgow
G2 4TP
Scotland
Accountants
Orry Consultancy Limited
11 Bonnyton Drive
Eaglesham
Glasgow
G76 0LT
E.T.A. Enclosures (UK) Limited
Statement of financial position
as at 31 December 2023
Tangible assets
45,438
48,308
Inventories
864,438
826,036
Cash at bank and in hand
142,511
163,263
Creditors: amounts falling due within one year
(975,515)
(1,082,698)
Net current assets
721,148
827,474
Total assets less current liabilities
766,586
875,782
Creditors: amounts falling due after more than one year
-
(120,000)
Net assets
766,586
755,782
Called up share capital
1,000
1,000
Profit and loss account
765,586
754,782
Shareholders' funds
766,586
755,782
For the year ending 31 December 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 5 June 2024 and were signed on its behalf by
Aldo Turati
Director
Company Registration No. SC187490
E.T.A. Enclosures (UK) Limited
Notes to the Accounts
for the year ended 31 December 2023
E.T.A. Enclosures (UK) Limited is a private company, limited by shares, registered in Scotland, registration number SC187490. The registered office is 168 Bath Street, Glasgow, G2 4TP, Scotland.
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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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
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:
Land & buildings
10% Straight Line
Plant & machinery
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Computer equipment
33% Straight Line
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
E.T.A. Enclosures (UK) Limited
Notes to the Accounts
for the year ended 31 December 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Contributions payable to defined contribution retirement benefit schemes are recognised in the profit and loss account when due.
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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Intangible fixed assets
Goodwill
At 31 December 2023
25,000
At 31 December 2023
25,000
E.T.A. Enclosures (UK) Limited
Notes to the Accounts
for the year ended 31 December 2023
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Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 January 2023
124,284
206,091
330,375
Additions
8,301
5,062
13,363
Disposals
-
(17,518)
(17,518)
At 31 December 2023
132,585
193,635
326,220
At 1 January 2023
91,813
190,254
282,067
Charge for the year
9,785
5,996
15,781
On disposals
-
(17,066)
(17,066)
At 31 December 2023
101,598
179,184
280,782
At 31 December 2023
30,987
14,451
45,438
At 31 December 2022
32,471
15,837
48,308
Amounts falling due within one year
Trade debtors
626,770
856,410
Other debtors
62,944
64,463
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
30,000
48,000
Trade creditors
60,980
39,817
Amounts owed to group undertakings and other participating interests
748,454
842,742
Taxes and social security
79,842
98,410
Other creditors
56,239
53,729
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Creditors: amounts falling due after more than one year
2023
2022
E.T.A. Enclosures (UK) Limited
Notes to the Accounts
for the year ended 31 December 2023
9
Operating lease commitments
2023
2022
At 31 December 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
125,562
115,000
Later than one year and not later than five years
502,248
383,333
Later than five years
423,772
-
The parent company of E.T.A. Enclosures (UK) Limited is E.T.A. S.P.A. and its registered off is Via Monte, Barzaghino 6, Canzo, 22035, Italy.
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Average number of employees
During the year the average number of employees was 7 (2022: 7).