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Company Registration No. 13585938 (England and Wales)
Elwood Installations Limited Unaudited accounts for the year ended 31 July 2024
Elwood Installations Limited Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
22,021 
12,961 
Current assets
Inventories
16,016 
16,016 
Debtors
259,295 
173,835 
Cash at bank and in hand
58,280 
7,078 
333,591 
196,929 
Creditors: amounts falling due within one year
(394,209)
(145,134)
Net current (liabilities)/assets
(60,618)
51,795 
Total assets less current liabilities
(38,597)
64,756 
Provisions for liabilities
Deferred tax
- 
(2,674)
Net (liabilities)/assets
(38,597)
62,082 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(38,697)
61,982 
Shareholders' funds
(38,597)
62,082 
For the year ending 31 July 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2025 and were signed on its behalf by
Terrence Westwood Director Company Registration No. 13585938
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Elwood Installations Limited Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Elwood Installations Limited is a private company, limited by shares, registered in England and Wales, registration number 13585938. The registered office is 28 High Street, Bidford-on-Avon, Alcester, B50 4AA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
Straight line over a useful life of 3 years
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Elwood Installations Limited Notes to the Accounts for the year ended 31 July 2024
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2023
15,438 
- 
2,846 
18,284 
Additions
11,209 
7,250 
- 
18,459 
At 31 July 2024
26,647 
7,250 
2,846 
36,743 
Depreciation
At 1 August 2023
4,408 
- 
915 
5,323 
Charge for the year
8,040 
410 
949 
9,399 
At 31 July 2024
12,448 
410 
1,864 
14,722 
Net book value
At 31 July 2024
14,199 
6,840 
982 
22,021 
At 31 July 2023
11,030 
- 
1,931 
12,961 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
4,357 
Trade debtors
246,619 
145,041 
Deferred tax asset
10,838 
Accrued income and prepayments
399 
3,386 
Other debtors
1,439 
21,051 
259,295 
173,835 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
115,150 
- 
VAT
31,086 
- 
Trade creditors
212,726 
23,798 
Taxes and social security
(6,062)
9,076 
Other creditors
26,764 
77,502 
Loans from directors
12,045 
32,808 
Accruals
2,500 
1,950 
394,209 
145,134 
- 4 -
Elwood Installations Limited Notes to the Accounts for the year ended 31 July 2024
7
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
4,184 
2,674 
Tax losses carried forward
(15,022)
- 
(10,838)
2,674 
2024 
2023 
£ 
£ 
Provision at start of year
2,674 
212 
(Credited)/charged to the profit and loss account
(13,512)
2,462 
Provision at end of year
(10,838)
2,674 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Terrence Westwood
Directors' Loan Account
- 
8,641 
- 
8,641 
- 
8,641 
- 
8,641 
9
Average number of employees
During the year the average number of employees was 4 (2023: 3).
- 5 -