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Etch-It Ltd.
Registered Number:04938769
For the year ended 31 December 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2023
Etch-It Ltd.
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
04938769
As at 31 December 2023
Etch-It Ltd.
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
1,342
588
2
1,342
588
Current assets
Trade and other receivables
63,724
65,477
3
65,477
63,724
Trade and other payables: amounts falling due within one
year
(49,508)
(53,438)
4
14,216
12,039
Net current assets
Total assets less current liabilities
13,381
14,804
Trade and other payables: amounts falling due after more
than one year
(14,469)
(12,737)
5
644
Net assets
335
Capital and reserves
Called up share capital
100
100
Retained earnings
544
235
644
335
Shareholders' funds
For the year ended 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 of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr. A.J. Richer Director
These financial statements were approved and authorised for issue by the Board on 31 July 2024 and were signed by:
The notes form part of these financial statements
1 of 4
4
For the year ended 31 December 2023
Etch-It Ltd.
Notes to the Financial Statements
Statutory Information
Etch-It Ltd. is a private limited company, limited by shares, domiciled in England and Wales, registration number
04938769.
Principal place of business:
6 Beechwood Road
Chippenham
SN14 0EZ
Registered address:
33 Hopps Road
Kingswood
Bristol
BS15 9QQ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 10 years.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
25% Reducing balance
25% Reducing balance
Motor vehicles
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
2 of 4
5
For the year ended 31 December 2023
Etch-It Ltd.
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Motor vehicles
Plant and
machinery
£
£
£
Cost or
valuation
At 01 January 2023
20,131
13,621
6,510
1,403
-
1,403
Additions
At 31 December 2023
7,913
13,621
21,534
Provision for depreciation and impairment
At 01 January 2023
19,543
13,401
6,142
Charge for year
649
55
594
At 31 December 2023
20,192
13,456
6,736
At 31 December 2023
Net book value
1,177
165
1,342
At 31 December 2022
368
220
588
3. Trade and other receivables
2022
2023
£
£
Trade debtors
13,179
8,452
Other debtors
52,298
55,272
63,724
65,477
4. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft (secured)
2,120
2,508
Bank loans and overdraft
7,060
4,648
Taxation and social security
31,931
30,171
Other creditors
12,327
12,181
53,438
49,508
5. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
Bank loans and overdraft (secured)
12,737
14,469
3 of 4
6
For the year ended 31 December 2023
Etch-It Ltd.
Notes to the Financial Statements Continued
6. Average number of persons employed
During the year the average number of employees was 1 (2022 : 1)
4 of 4