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REGISTERED NUMBER: 01675188 (England and Wales)















EUROTEC DISTRIBUTION LIMITED

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






EUROTEC DISTRIBUTION LIMITED (REGISTERED NUMBER: 01675188)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Chartered Accountants' Report 2

Abridged Statement of Financial Position 3 to 4

Notes to the Financial Statements 5 to 8


EUROTEC DISTRIBUTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: W E Wisedale
N M Tomkinson-Hill
R Wisedale
M Wisedale



SECRETARY: W E Wisedale



REGISTERED OFFICE: Church Croft House
Station Road
Rugeley
Staffordshire
WS15 2HE



REGISTERED NUMBER: 01675188 (England and Wales)



ACCOUNTANTS: BCD Accountants Limited
Second Floor
21 Graham Street
Birmingham
United Kingdom
B1 3JR



BANKERS: Lloyds Bank Plc
3 Market Place
Cannock
Staffordshire
WS11 1BD

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
EUROTEC DISTRIBUTION LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Eurotec Distribution Limited for the year ended 31 March 2024 which comprise the Abridged Income Statement, Abridged Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Eurotec Distribution Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Eurotec Distribution Limited and state those matters that we have agreed to state to the Board of Directors of Eurotec Distribution Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Eurotec Distribution Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Eurotec Distribution Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Eurotec Distribution Limited. You consider that Eurotec Distribution Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Eurotec Distribution Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BCD Accountants Limited
Second Floor
21 Graham Street
Birmingham
United Kingdom
B1 3JR


9 July 2024

EUROTEC DISTRIBUTION LIMITED (REGISTERED NUMBER: 01675188)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 425,180 417,124
Investments 5 100 100
425,280 417,224

CURRENT ASSETS
Stocks 410,059 337,001
Debtors 232,864 784,180
Cash at bank and in hand 1,733,928 1,667,757
2,376,851 2,788,938
CREDITORS
Amounts falling due within one year (973,285 ) (1,343,334 )
NET CURRENT ASSETS 1,403,566 1,445,604
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,828,846

1,862,828

PROVISIONS FOR LIABILITIES (6,420 ) (2,541 )
NET ASSETS 1,822,426 1,860,287

CAPITAL AND RESERVES
Called up share capital 10,174 10,104
Revaluation reserve 205,951 205,951
Retained earnings 1,606,301 1,644,232
SHAREHOLDERS' FUNDS 1,822,426 1,860,287

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

EUROTEC DISTRIBUTION LIMITED (REGISTERED NUMBER: 01675188)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 9 July 2024 and were signed on its behalf by:





W E Wisedale - Director


EUROTEC DISTRIBUTION LIMITED (REGISTERED NUMBER: 01675188)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Eurotec Distribution Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation and functional 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 the 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, modified to include the revaluation of certain fixed assets.

Preparation of consolidated financial statements
The financial statements contain information about Eurotec Distribution Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at the point the goods are available for delivery to or collection from the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 100 years
Furniture, fixtures and equipment - 20% on reducing balance

The freehold property was initially recorded at cost and is now carried at its revalued amount. The revaluation of the freehold property will be performed on a regular basis to ensure its carrying value is not materially higher or lower than its fair value. Deferred tax is recognised on any revaluation gains or losses, currently at a rate of 25%.

The freehold property was last revalued at 31 March 2018 by Edward Preece & Co, 2 Cornmarket, Faringdon, Oxfordshire, SN7 7HG.

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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.


EUROTEC DISTRIBUTION LIMITED (REGISTERED NUMBER: 01675188)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position 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 12 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 April 2023 478,477
Additions 16,780
Disposals (13,907 )
At 31 March 2024 481,350
DEPRECIATION
At 1 April 2023 61,353
Charge for year 7,049
Eliminated on disposal (12,232 )
At 31 March 2024 56,170
NET BOOK VALUE
At 31 March 2024 425,180
At 31 March 2023 417,124

EUROTEC DISTRIBUTION LIMITED (REGISTERED NUMBER: 01675188)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2024 is represented by:

Totals
£   
Valuation in 2006 99,028
Valuation in 2012 (25,000 )
Valuation in 2017 25,000
Valuation in 2018 25,000
Cost 357,322
481,350

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 April 2023
and 31 March 2024 100
NET BOOK VALUE
At 31 March 2024 100
At 31 March 2023 100

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Media Discovery Limited
Registered office: Church Croft House, Station Road, Rugeley, Staffordshire, WS15 2HE
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 100 100

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 2,770 4,749
Between one and five years - 2,770
2,770 7,519

EUROTEC DISTRIBUTION LIMITED (REGISTERED NUMBER: 01675188)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. RELATED PARTY DISCLOSURES

Included within debtors is an amount owed from a director of £13,822, 2023: £60,150. The loan was interest free, unsecured and repayable on demand.

The aggregate amount due from / (to) the directors at the balance sheet date was (£200,031) 2023: (£189,914).

Media Discovery Limited
Fully owned by Eurotec Distribution Limited.

On 23 October 2012, Media Discovery Limited was incorporated with Eurotec Distribution Limited being the
100% shareholder of the company. Included in other creditors is a loan from Media Discovery Limited for

20242023
££
Amount due from/(to) related party at the balance sheet date(100)(100)