Registered number
06513743
ET Associates Ltd
Unaudited Filleted Accounts
31 January 2024
ET Associates Ltd
Registered number: 06513743
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 66,226 70,338
Tangible assets 4 289 386
66,515 70,724
Current assets
Debtors 5 9,368 8,262
Cash at bank and in hand 4,595 3,898
13,963 12,160
Creditors: amounts falling due within one year 6 (78,828) (80,504)
Net current liabilities (64,865) (68,344)
Total assets less current liabilities 1,650 2,380
Provisions for liabilities (34) (53)
Net assets 1,616 2,327
Capital and reserves
Called up share capital 3 2
Profit and loss account 1,613 2,325
Shareholders' funds 1,616 2,327
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.
Mr EA Shannon
Director
Approved by the board on 30 October 2024
ET Associates Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Motor Vehicles 25% on written down value
Fixtures, fittings, tools and equipment 25% on written down value
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 25 25
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2023 123,350
At 31 January 2024 123,350
Amortisation
At 1 February 2023 53,012
Provided during the year 4,112
At 31 January 2024 57,124
Net book value
At 31 January 2024 66,226
At 31 January 2023 70,338
Goodwill is being written off in equal annual instalments over its estimated economic life of 30 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 4,170 3,900 8,070
At 31 January 2024 4,170 3,900 8,070
Depreciation
At 1 February 2023 3,907 3,777 7,684
Charge for the year 66 31 97
At 31 January 2024 3,973 3,808 7,781
Net book value
At 31 January 2024 197 92 289
At 31 January 2023 263 123 386
5 Debtors 2024 2023
£ £
Trade debtors 8,086 6,980
Other debtors 1,282 1,282
9,368 8,262
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 4,169 3,721
Other creditors 74,659 76,783
78,828 80,504
7 Other information
ET Associates Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 16 Eastway Business Village
Olivers Place
Fulwood
Preston
PR2 9WT
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