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
Tangible assets
22,021
12,961
Cash at bank and in hand
58,280
7,078
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
Net (liabilities)/assets
(38,597)
62,082
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
Elwood Installations Limited
Notes to the Accounts
for the year ended 31 July 2024
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.
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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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 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 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.
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 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.
Elwood Installations Limited
Notes to the Accounts
for the year ended 31 July 2024
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.
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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
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
At 31 July 2024
14,199
6,840
982
22,021
At 31 July 2023
11,030
-
1,931
12,961
Amounts falling due within one year
Trade debtors
246,619
145,041
Deferred tax asset
10,838
-
Accrued income and prepayments
399
3,386
Other debtors
1,439
21,051
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
115,150
-
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
Elwood Installations Limited
Notes to the Accounts
for the year ended 31 July 2024
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Deferred taxation
2024
2023
Accelerated capital allowances
4,184
2,674
Tax losses carried forward
(15,022)
-
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
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors' Loan Account
-
8,641
-
8,641
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Average number of employees
During the year the average number of employees was 4 (2023: 3).