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E T L DEVELOPMENTS LIMITED

Registered Number
05303384
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

E T L DEVELOPMENTS LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

CARTER, Tina Michelle
HIRST, John Edward
HIRST, Luke William
HIRST, Scott Anthony

Company Secretary

CARTER, Tina Michelle

Registered Address

Hundhill House, Hundhill Lane
East Hardwick
Pontefract
WF8 3DZ

Registered Number

05303384 (England and Wales)
E T L DEVELOPMENTS LIMITED
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets32,12510
Tangible assets4841,752722,100
843,877722,110
Current assets
Stocks554,50038,455
Debtors641,38972,125
Cash at bank and on hand478,911187,203
574,800297,783
Creditors amounts falling due within one year7(747,213)(660,216)
Net current assets (liabilities)(172,413)(362,433)
Total assets less current liabilities671,464359,677
Creditors amounts falling due after one year8(369,554)(371,865)
Provisions for liabilities9(35,716)-
Net assets266,194(12,188)
Capital and reserves
Called up share capital33
Profit and loss account266,191(12,191)
Shareholders' funds266,194(12,188)
The financial statements were approved and authorised for issue by the Board of Directors on 26 July 2024, and are signed on its behalf by:
CARTER, Tina Michelle
Director
Registered Company No. 05303384
E T L DEVELOPMENTS LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The directors have concluded that the company remains a going concern.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-25
Plant and machinery25-
Vehicles25-
Office Equipment25-
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement
2.Average number of employees

20232022
Average number of employees during the year65
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 January 235,7105,710
Additions2,5502,550
At 31 December 238,2608,260
Amortisation and impairment
At 01 January 235,7005,700
Charge for year435435
At 31 December 236,1356,135
Net book value
At 31 December 232,1252,125
At 31 December 221010
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 January 23672,490139,37428,6062,736843,206
Additions93,74666,9879,9451,278171,956
At 31 December 23766,236206,36138,5514,0141,015,162
Depreciation and impairment
At 01 January 2351,58048,00318,9922,531121,106
Charge for year15,76431,6354,68522052,304
At 31 December 2367,34479,63823,6772,751173,410
Net book value
At 31 December 23698,892126,72314,8741,263841,752
At 31 December 22620,91091,3719,614205722,100
5.Stocks

2023

2022

££
Work in progress54,50038,455
Total54,50038,455
6.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables27,49340,701
Other debtors3,2328,260
Prepayments and accrued income10,66423,164
Total41,38972,125
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad or doubtful debts. Loans and other financial assets are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables140,78383,928
Bank borrowings and overdrafts34,83034,830
Taxation and social security70,7633,030
Other creditors487,736535,327
Accrued liabilities and deferred income13,1013,101
Total747,213660,216
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Bank loans within one year: 2023 £34,830 (2022: £34,830). The bank loans are secured by a charge over the assets of the company.
8.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts369,554371,865
Total369,554371,865
The bank loan is secured by a charge over the assets of the company.
9.Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

2023

2022

££
Net deferred tax liability (asset)35,716-
Total35,716-
10.Related party transactions
At the year end the company owed the directors £416,618, (2022: £462,680 ), This is an interest free loan. An amount was owed to Garden Best Buys Limited (a company under the control of the directors) of £69,500 (2022: £61,671) and a mangement charge of £85,000 (2022: £30,000) was received from them.