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Elliott & Tate Ltd
Financial Statements
For The Year Ended 30 April 2024
Financial Statements
Contents
Page
Accountants' Report 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—5
Page 1
Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of Elliott & Tate Ltd For The Year Ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Elliott & Tate Ltd For The Year Ended 30 April 2024 which comprise the Income Statement, the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Elliott & Tate Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Elliott & Tate Ltd and state those matters that we have agreed to state to the directors of Elliott & Tate Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elliott & Tate Ltd and its directors, as a body, for our work or for this report.
It is your duty to ensure that Elliott & Tate Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Elliott & Tate Ltd . You consider that Elliott & Tate Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Elliott & Tate Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
17 September 2024
Cooper Adams Ltd
Chartered Accountants
12 Payton Street
Stratford upon Avon
Warwickshire
CV37 6UA
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Page 2
Statement of Financial Position
Registered number: 07611196
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 15,584 14,857
15,584 14,857
CURRENT ASSETS
Stocks 7,500 8,910
Debtors 132,491 137,548
Cash at bank and in hand 119,187 246,417
259,178 392,875
Creditors: Amounts Falling Due Within One Year (155,619 ) (315,581 )
NET CURRENT ASSETS (LIABILITIES) 103,559 77,294
TOTAL ASSETS LESS CURRENT LIABILITIES 119,143 92,151
NET ASSETS 119,143 92,151
CAPITAL AND RESERVES
Called up share capital 5 1 1
Income Statement 119,142 92,150
SHAREHOLDERS' FUNDS 119,143 92,151
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Page 3
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr James Hooper
Director
17 September 2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Elliott & Tate Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07611196 . The registered office is 12 Payton Street, Stratford upon Avon, Warwickshire, CV37 6UA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & machinery 33% on reducing balance
Motor vehicles 25% on reducing balance
Computer equipment 25% on reducing balance
2.4. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.5. Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the income statement, directors report, and notes to the financial statements relating to the income statement.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 2)
3 2
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4. Tangible assets
Plant & machinery Motor vehicles Computer equipment Total
£ £ £ £
Cost
As at 1 May 2023 22,350 4,100 2,570 29,020
Additions 8,225 - - 8,225
As at 30 April 2024 30,575 4,100 2,570 37,245
Depreciation
As at 1 May 2023 9,830 3,690 643 14,163
Provided during the period 6,914 103 481 7,498
As at 30 April 2024 16,744 3,793 1,124 21,661
Net Book Value
As at 30 April 2024 13,831 307 1,446 15,584
As at 1 May 2023 12,520 410 1,927 14,857
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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