E-TYPE FABS LTD

Company Registration Number:
04829407 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2023

Period of accounts

Start date: 1 August 2022

End date: 31 July 2023

E-TYPE FABS LTD

Contents of the Financial Statements

for the Period Ended 31 July 2023

Balance sheet
Additional notes
Balance sheet notes

E-TYPE FABS LTD

Balance sheet

As at 31 July 2023

Notes 2023 11 months to 31 July 2022


£

£
Fixed assets
Tangible assets: 3 275,342 233,542
Total fixed assets: 275,342 233,542
Current assets
Stocks: 4 2,643,523 1,651,177
Debtors: 5 29,016 98,872
Cash at bank and in hand: 117 2,032
Total current assets: 2,672,656 1,752,081
Creditors: amounts falling due within one year: 6 ( 3,052,547 ) ( 2,329,622 )
Net current assets (liabilities): (379,891) (577,541)
Total assets less current liabilities: (104,549) ( 343,999)
Creditors: amounts falling due after more than one year: 7 ( 151,038 ) ( 147,075 )
Provision for liabilities: ( 67,968 )
Total net assets (liabilities): (323,555) (491,074)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (323,655 ) (491,174 )
Total Shareholders' funds: ( 323,555 ) (491,074)

The notes form part of these financial statements

E-TYPE FABS LTD

Balance sheet statements

For the year ending 31 July 2023 the company was entitled to exemption 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 directors acknowledge their 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 9 September 2024
and signed on behalf of the board by:

Name: Darren McDermott
Status: Director

The notes form part of these financial statements

E-TYPE FABS LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

    Tangible fixed assets depreciation policy

    Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows: Property improvements: 10% straight line Plant and machinery: 25% reducing balance

    Valuation information and policy

    Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

    Other accounting policies

    The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. eferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when 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.

E-TYPE FABS LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

  • 2. Employees

    2023 11 months to 31 July 2022
    Average number of employees during the period 11 11

E-TYPE FABS LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 August 2022 107,667 478,594 586,261
Additions 51,555 35,827 87,382
Disposals
Revaluations
Transfers
At 31 July 2023 159,222 514,421 673,643
Depreciation
At 1 August 2022 0 352,719 352,719
Charge for year 5,156 40,426 45,582
On disposals
Other adjustments
At 31 July 2023 5,156 393,145 398,301
Net book value
At 31 July 2023 154,066 121,276 275,342
At 31 July 2022 107,667 125,875 233,542

E-TYPE FABS LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

4. Stocks

2023 11 months to 31 July 2022
£ £
Stocks 2,643,523 1,651,177
Total 2,643,523 1,651,177

E-TYPE FABS LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

5. Debtors

2023 11 months to 31 July 2022
£ £
Trade debtors 1,217 0
Other debtors 27,799 98,872
Total 29,016 98,872

E-TYPE FABS LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

6. Creditors: amounts falling due within one year note

2023 11 months to 31 July 2022
£ £
Bank loans and overdrafts 23 56,139
Trade creditors 2,116,918 1,413,652
Taxation and social security 106,466 78,704
Accruals and deferred income 313,099 312,126
Other creditors 516,041 469,001
Total 3,052,547 2,329,622

E-TYPE FABS LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

7. Creditors: amounts falling due after more than one year note

2023 11 months to 31 July 2022
£ £
Bank loans and overdrafts 151,038 147,075
Total 151,038 147,075