Registered number
09484692
Eurotech Holdings Ltd
Report and Accounts
30 April 2024
Accountancy 4 Success Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Eurotech Holdings Ltd
Registered number: 09484692
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 75,000 150,000
Tangible assets 4 475,570 460,656
Investments 5 100 100
550,670 610,756
Current assets
Debtors 6 175,870 808,987
Cash at bank and in hand 986,188 269,988
1,162,058 1,078,975
Creditors: amounts falling due within one year 7 (194,971) (168,573)
Net current assets 967,087 910,402
Total assets less current liabilities 1,517,757 1,521,158
Provisions for liabilities - (1,169)
Net assets 1,517,757 1,519,989
Capital and reserves
Called up share capital 115 115
Profit and loss account 1,517,642 1,519,874
Shareholders' funds 1,517,757 1,519,989
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mark Lynch
Director
Approved by the board on 10 September 2024
Eurotech Holdings Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Turnover
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 from 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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 750,000
At 30 April 2024 750,000
Amortisation
At 1 May 2023 600,000
Provided during the year 75,000
At 30 April 2024 675,000
Net book value
At 30 April 2024 75,000
At 30 April 2023 150,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 May 2023 450,000 54,203 504,203
Additions - 34,093 34,093
Disposals - (54,203) (54,203)
At 30 April 2024 450,000 34,093 484,093
Depreciation
At 1 May 2023 - 43,547 43,547
Charge for the year - 8,524 8,524
On disposals - (43,548) (43,548)
At 30 April 2024 - 8,523 8,523
Net book value
At 30 April 2024 450,000 25,570 475,570
At 30 April 2023 450,000 10,656 460,656
5 Investments
Other
investments
£
Cost
At 1 May 2023 100
At 30 April 2024 100
6 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 175,870 808,987
7 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 8,831 -
Corporation tax 7,203 4,386
Other taxes and social security costs 833 833
Other creditors 178,104 163,354
194,971 168,573
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