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REGISTERED NUMBER: 07398485 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

ETATT LIMITED

ETATT LIMITED (REGISTERED NUMBER: 07398485)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


ETATT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: S Tan





REGISTERED OFFICE: 266-268 High Street
Waltham Cross
Hertfordshire
EN8 7EA





REGISTERED NUMBER: 07398485 (England and Wales)





ACCOUNTANTS: Arkinbutler Ltd
266-268 High Street
Waltham Cross
Hertfordshire
EN8 7EA

ETATT LIMITED (REGISTERED NUMBER: 07398485)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,107 4,832
Investment property 5 768,131 768,131
772,238 772,963

CURRENT ASSETS
Debtors 6 1,529 921
Cash at bank 2,009 1,564
3,538 2,485
CREDITORS
Amounts falling due within one year 7 27,002 36,884
NET CURRENT LIABILITIES (23,464 ) (34,399 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

748,774

738,564

CREDITORS
Amounts falling due after more than one year 8 (574,870 ) (574,870 )

PROVISIONS FOR LIABILITIES 11 (28,228 ) (25,775 )
NET ASSETS 145,676 137,919

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 12 145,675 137,918
145,676 137,919

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ETATT LIMITED (REGISTERED NUMBER: 07398485)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 director and authorised for issue on 23 September 2024 and were signed by:





S Tan - Director


ETATT LIMITED (REGISTERED NUMBER: 07398485)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Etatt 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.

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 as modified by the revaluation of certain assets.

The financial statements are presented in pounds sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgement and estimates have been made include:

a - Critical judgements in applying accounting policies
There are no critical judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

b - Key accounting estimates and assumptions
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have the most significant potential impact upon the carrying values of assets and liabilities within the next financial year are as follows;

i- Investment property valuation
The valuation of Company's property is inherently subjective due to, among other factors, the individual nature of each property, its location and the expected future rental revenues from that particular property. As a result, the valuations the Company places on its property portfolio are subject to a degree of uncertainty and are made on the basis of assumptions which may not prove to be accurate, particularly in periods of volatility or low transaction flow in the property market.

The investment property valuations contains a number of assumptions upon which the Company's valuers have based their valuation of the Company's properties as at the balance sheet date. The assumptions on which the property valuation reports have been based include, but not limited to, matters such as the tenure and tenancy details for the properties, ground conditions at the properties, the structural condition of the properties, prevailing market yields and comparable market transactions. These assumptions are market standard and accord with the Royal Institution of Chartered Surveyors (RICS).

TURNOVER
Revenue relates to property rental income within the UK.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

ETATT LIMITED (REGISTERED NUMBER: 07398485)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued

INVESTMENT PROPERTY
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account. Revaluations are carried out by the director, who have experience in the location and class of the investment property being valued.

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.

GOING CONCERN
The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

ETATT LIMITED (REGISTERED NUMBER: 07398485)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2023
and 29 February 2024 9,257
DEPRECIATION
At 1 March 2023 4,425
Charge for year 725
At 29 February 2024 5,150
NET BOOK VALUE
At 29 February 2024 4,107
At 28 February 2023 4,832

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 768,131
NET BOOK VALUE
At 29 February 2024 768,131
At 28 February 2023 768,131

The investment properties are shown at current market value. The valuation has been made by Mr S Tan, the director of the company. The basis of valuation used was to gross up the ground rent and rental income by the rate of return expected from the type of property owned. The director considers that there were no material changes to the fair value in the year to 29 February 2024.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Prepayments 1,529 921

ETATT LIMITED (REGISTERED NUMBER: 07398485)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Amounts owed to group undertakings 23,591 34,591
Tax 2,565 1,471
Accrued expenses 846 822
27,002 36,884

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans (see note 9) 574,870 574,870

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 574,870 574,870

9. LOANS

An analysis of the maturity of loans is given below:

29.2.24 28.2.23
£    £   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 574,870 574,870

10. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 574,870 574,870

11. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax 28,228 25,775

ETATT LIMITED (REGISTERED NUMBER: 07398485)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 March 2023 25,775
Change in rate of tax on
deferred tax 2,453
Balance at 29 February 2024 28,228

Deferred tax has been provided for potential tax liabilities arising on the capital gains of revalued investment property.

12. RESERVES

The profit and loss reserve contained the cumulative balance of retained profit and losses as well as investment property revaluations since the company started trading. It is made up of distributable and non-distributable reserves.

At the balance sheet date, total reserves consisted of £35,793 (2023: £28,036) distributable reserves and £109,882 (2023: £109,882) non-distributable.

13. ULTIMATE CONTROLLING PARTY

Ultimate parent company is TT Redwood Limited, a company incorporated in England and Wales by virtue of its 100% shareholding in the company. The ultimate controlling party of the group is Mr S Tan by virtue of his 100% shareholding.