Registered number
03348080
Etp (Uk) Limited
Filleted Accounts
31 January 2024
Etp (Uk) Limited
Registered number: 03348080
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 31,245 31,813
Current assets
Stocks 40,000 40,000
Debtors 5 393,564 401,638
Cash at bank and in hand 10,708 39,684
444,272 481,322
Creditors: amounts falling due within one year 6 (313,276) (231,682)
Net current assets 130,996 249,640
Net assets 162,241 281,453
Capital and reserves
Called up share capital 100 100
Profit and loss account 162,141 281,353
Shareholders' funds 162,241 281,453
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.
Ebru Turk
Director
Approved by the board on 12 July 2024
Etp (Uk) Limited
Notes to the Accounts
for the year ended 31 January 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Audit information
The audit report is unqualified.
Senior statutory auditor: David Watts
Firm: Newton & Garner Ltd
Date of audit report: 12 July 2024
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 12
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 109,220 8,290 117,510
Additions 7,408 - 7,408
At 31 January 2024 116,628 8,290 124,918
Depreciation
At 1 February 2023 80,030 5,667 85,697
Charge for the year 7,320 656 7,976
At 31 January 2024 87,350 6,323 93,673
Net book value
At 31 January 2024 29,278 1,967 31,245
At 31 January 2023 29,190 2,623 31,813
5 Debtors 2024 2023
£ £
Trade debtors 210,374 215,191
Other debtors 183,190 186,447
393,564 401,638
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 116,391 142,493
Taxation and social security costs 70,502 34,556
Other creditors 126,383 54,633
313,276 231,682
7 Controlling party
Mr Hasan Turk, a company director, controls the company by virtue of holding 70% of the issued share capital. The remaining 30% of shares held by Mr Aziz Yildiz who is not a director.
8 Other information
Etp (Uk) Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Colman Parade
Southbury Rad
Enfield
EN1 1YY
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