Registered number
06853638
Eltham DIY Limited
Filleted Accounts
31 March 2024
Eltham DIY Limited
Registered number: 06853638
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 49,303 59,018
Investments 4 1,000 1,000
50,303 60,018
Current assets
Stocks 215,000 215,000
Debtors 5 7,833 5,173
Cash at bank and in hand 318,348 274,400
541,181 494,573
Creditors: amounts falling due within one year 6 (101,404) (95,429)
Net current assets 439,777 399,144
Net assets 490,080 459,162
Capital and reserves
Called up share capital 100 100
Profit and loss account 489,980 459,062
Shareholder's funds 490,080 459,162
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 R R Ladwa
Director
Approved by the board on 1 October 2024
Eltham DIY Limited
Notes to the Accounts
for the year ended 31 March 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 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:
Motor vehicles 18% straight line
Fixtures, fittings, tools and equipment 18% straight line
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 5
3 Tangible fixed assets
Fixtures, fittings,tools and equipment Motor vehicles Total
£ £ £
Cost
At 1 April 2023 129,162 47,110 176,272
Additions 1,108 - 1,108
At 31 March 2024 130,270 47,110 177,380
Depreciation
At 1 April 2023 102,931 14,323 117,254
Charge for the year 7,691 3,132 10,823
At 31 March 2024 110,622 17,455 128,077
Net book value
At 31 March 2024 19,648 29,655 49,303
At 31 March 2023 26,231 32,787 59,018
4 Investments
Other
investments
£
Cost
At 1 April 2023 1,000
At 31 March 2024 1,000
5 Debtors 2024 2023
£ £
Trade debtors 5,749 4,677
Other debtors 2,084 496
7,833 5,173
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 37,706 37,647
Taxation and social security costs 45,522 35,409
Other creditors 18,176 22,373
101,404 95,429
7 Other information
Eltham DIY Limited is a private company limited by shares and incorporated in England. Its registered office is:
66 Glenlea Road
Eltham
London
SE9 1DZ
8 Controlling party
The controlling party is Mr R R Ladwa by virtue of his ownership of 100% of the issued ordinary
share capital of the company.
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