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REGISTERED NUMBER: 02832828 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH APRIL 2024

FOR

ECO TECHNOLOGY LTD.

ECO TECHNOLOGY LTD. (REGISTERED NUMBER: 02832828)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


ECO TECHNOLOGY LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2024







Directors: D G Lewis
P N Mellor





Registered office: Mbg House
Unit C Maerdy Industrial Estate
Rhymney
Tredegar
NP22 5PY





Registered number: 02832828 (England and Wales)

ECO TECHNOLOGY LTD. (REGISTERED NUMBER: 02832828)

BALANCE SHEET
30TH APRIL 2024

30.4.24 30.4.23
Notes £ £ £ £
Fixed assets
Tangible assets 4 3,171,571 2,307,308

Current assets
Stocks 5 868,326 961,823
Debtors 6 1,678,769 1,684,762
Cash at bank and in hand 1,497,190 97,178
4,044,285 2,743,763
Creditors
Amounts falling due within one year 7 4,075,389 2,571,178
Net current (liabilities)/assets (31,104 ) 172,585
Total assets less current liabilities 3,140,467 2,479,893

Creditors
Amounts falling due after more than one
year

8

(990,327

)

(1,108,463

)

Provisions for liabilities 11 (350,500 ) (146,400 )
Net assets 1,799,640 1,225,030

Capital and reserves
Called up share capital 12 350 350
Retained earnings 1,799,290 1,224,680
Shareholders' funds 1,799,640 1,225,030

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ECO TECHNOLOGY LTD. (REGISTERED NUMBER: 02832828)

BALANCE SHEET - continued
30TH APRIL 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23rd January 2025 and were signed on its behalf by:





P N Mellor - Director


ECO TECHNOLOGY LTD. (REGISTERED NUMBER: 02832828)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024


1. Statutory information

Eco Technology Ltd. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant & machinery - 20% on reducing balance
Fixtures & fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated in the Balance sheet at cost less depreciation.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

ECO TECHNOLOGY LTD. (REGISTERED NUMBER: 02832828)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducing all of its liabilities.

ECO TECHNOLOGY LTD. (REGISTERED NUMBER: 02832828)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


2. Accounting policies - continued
Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Research & development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

ECO TECHNOLOGY LTD. (REGISTERED NUMBER: 02832828)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


2. Accounting policies - continued

Hire purchase & leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs & other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 38 (2023 - 41 ) .

4. Tangible fixed assets
Freehold Plant & Fixtures & Motor
property machinery fittings vehicles Totals
£ £ £ £ £
Cost
At 1st May 2023 1,540,479 1,374,921 30,599 216,245 3,162,244
Additions - 1,056,063 123,606 168,748 1,348,417
At 30th April 2024 1,540,479 2,430,984 154,205 384,993 4,510,661
Depreciation
At 1st May 2023 46,214 690,395 13,156 105,171 854,936
Charge for year 30,810 348,121 35,267 69,956 484,154
At 30th April 2024 77,024 1,038,516 48,423 175,127 1,339,090
Net book value
At 30th April 2024 1,463,455 1,392,468 105,782 209,866 3,171,571
At 30th April 2023 1,494,265 684,526 17,443 111,074 2,307,308

The net book value of tangible fixed assets includes £ 279,604 (2023 - £ 349,505 ) in respect of assets held under hire purchase contracts.

5. Stocks
30.4.24 30.4.23
£ £
Finished goods 868,326 961,823

ECO TECHNOLOGY LTD. (REGISTERED NUMBER: 02832828)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


6. Debtors: amounts falling due within one year
30.4.24 30.4.23
£ £
Trade debtors 1,357,611 1,031,838
VAT 217,238 -
Prepayments & accrued income 103,920 652,924
1,678,769 1,684,762

7. Creditors: amounts falling due within one year
30.4.24 30.4.23
£ £
Bank loans 24,956 29,305
Hire purchase contracts (see note 9) 89,941 84,504
Trade creditors 710,767 84,196
Amounts owed to related parties 2,916,276 539,544
Social security & other tax 40,730 153,887
Accrued expenses 292,719 1,679,742
4,075,389 2,571,178

8. Creditors: amounts falling due after more than one year
30.4.24 30.4.23
£ £
Bank loans - one to five years 86,049 93,305
Bank loans more than five years 707,966 728,905
Hire purchase contracts (see note 9) 196,312 286,253
990,327 1,108,463

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than five years 707,966 728,905

ECO TECHNOLOGY LTD. (REGISTERED NUMBER: 02832828)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


9. Leasing agreements

Minimum lease payments under hire purchase fall due as follows:

30.4.24 30.4.23
£ £
Net obligations repayable:
Within one year 89,941 84,504
Between one and five years 196,312 286,253
286,253 370,757

10. Secured debts

The following secured debts are included within creditors:

30.4.24 30.4.23
£ £
Bank loans 818,971 851,515

The bank loan is secured by a fixed and floating charge over the land and buildings owned by the group.

11. Provisions for liabilities
30.4.24 30.4.23
£ £
Deferred tax 350,500 146,400

Deferred tax
£
Balance at 1st May 2023 146,400
Accelerated capital allowances 236,300
Losses (32,200 )
Balance at 30th April 2024 350,500

ECO TECHNOLOGY LTD. (REGISTERED NUMBER: 02832828)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £ £
300 Ordinary £1 - -
300 Ordinary A £1 300 300
50 T £1 50 50
350 350

The 50 T shares were converted into 50 Ordinary A shares on 7th May 2024.

13. Contingent liabilities

There were no contingent liabilities at 30th April 2024.

14. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Related parties
The following transactions with related parties took place during the year, on normal commercial terms:



Sales

Purchases
Creditor
balance
£   £   £   
Controlled, joint control or significant influence
entities

-

4,726,045

2,916,276