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REGISTERED NUMBER: 09922297 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

E TYPE U.K. LIMITED

E TYPE U.K. LIMITED (REGISTERED NUMBER: 09922297)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


E TYPE U.K. LIMITED (REGISTERED NUMBER: 09922297)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £
FIXED ASSETS
Intangible assets 4 38,620 58,331
Tangible assets 5 176,373 132,215
Investments 6 1 1
214,994 190,547

CURRENT ASSETS
Stocks 368,336 468,948
Debtors: amounts falling due within one year 7 541,953 717,397
Cash at bank and in hand 117,428 46,845
1,027,717 1,233,190
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

8

(511,837

)

(687,601

)
NET CURRENT ASSETS 515,880 545,589
TOTAL ASSETS LESS CURRENT
LIABILITIES

730,874

736,136

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

9

(53,781

)

(26,052

)

PROVISIONS FOR LIABILITIES (33,511 ) (25,121 )
NET ASSETS 643,582 684,963

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 643,382 684,763
643,582 684,963

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.

E TYPE U.K. LIMITED (REGISTERED NUMBER: 09922297)

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 20 August 2024 and were signed on its behalf by:




M L Holland - Director



D A Holland - Director


E TYPE U.K. LIMITED (REGISTERED NUMBER: 09922297)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

E Type U.K. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09922297

Registered office: The Duck House Barn
North Frith Farm
Ashes Lane
Hadlow
Kent
TN11 9QU

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.

Income recognition
Turnover is measured at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account discounts given.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on despatch fo the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

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 - 15% on reducing balance
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 15% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

E TYPE U.K. LIMITED (REGISTERED NUMBER: 09922297)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Stocks
Stocks and work-in-progress are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials, direct labour costs and those overheads that have been incurred in bringing the stocks and work-in-progress to their present location and condition.

At each reporting date an assessment is made for impairment. Any excess of the carrying amount of stocks and work-in-progress over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

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.

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 14 (2022 - 16 ) .

E TYPE U.K. LIMITED (REGISTERED NUMBER: 09922297)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£ £ £
COST
At 1 January 2023
and 31 December 2023 190,829 7,565 198,394
AMORTISATION
At 1 January 2023 133,581 6,482 140,063
Charge for year 19,083 628 19,711
At 31 December 2023 152,664 7,110 159,774
NET BOOK VALUE
At 31 December 2023 38,165 455 38,620
At 31 December 2022 57,248 1,083 58,331

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 January 2023 229,185 160,407 67,846 53,557 510,995
Additions - 1,208 111,421 - 112,629
At 31 December 2023 229,185 161,615 179,267 53,557 623,624
DEPRECIATION
At 1 January 2023 157,070 137,820 43,049 40,841 378,780
Charge for year 18,029 6,545 40,718 3,179 68,471
At 31 December 2023 175,099 144,365 83,767 44,020 447,251
NET BOOK VALUE
At 31 December 2023 54,086 17,250 95,500 9,537 176,373
At 31 December 2022 72,115 22,587 24,797 12,716 132,215

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

The company owns 100% of the issued Ordinary share capital of Unleashed Classics Limited, a company incorporated in England and Wales. The nature of the business of the subsidiary is the sale and restoration of classic cars.

E TYPE U.K. LIMITED (REGISTERED NUMBER: 09922297)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 95,416 187,714
Amounts owed by group undertakings 324,177 369,290
Amounts owed by associates 109,180 106,960
Other debtors 13,180 53,433
541,953 717,397

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 10,278 9,600
Hire purchase contracts (see note 10) 15,100 -
Trade creditors 44,273 94,546
Taxation and social security 32,569 61,410
Other creditors 409,617 522,045
511,837 687,601

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans 15,505 26,052
Hire purchase contracts (see note 10) 38,276 -
53,781 26,052

10. LEASING AGREEMENTS

The total of future minimum lease payments under non-cancellable operating leases are £1,150 (2022: £61,150).