REGISTERED NUMBER: |
ETLG Limited |
Unaudited Financial Statements |
for the Year Ended 31 December 2024 |
REGISTERED NUMBER: |
ETLG Limited |
Unaudited Financial Statements |
for the Year Ended 31 December 2024 |
ETLG Limited (Registered number: 01346001) |
Contents of the Financial Statements |
for the year ended 31 December 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ETLG Limited |
Company Information |
for the year ended 31 December 2024 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
1st Floor, Abbey Square |
Davidson House |
The Forbury |
Reading |
RG1 3EU |
ETLG Limited (Registered number: 01346001) |
Balance Sheet |
31 December 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investments | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
Net assets |
Capital and reserves |
Called up share capital | 9 |
Retained earnings |
Shareholders' funds |
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. |
ETLG Limited (Registered number: 01346001) |
Balance Sheet - continued |
31 December 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
ETLG Limited (Registered number: 01346001) |
Notes to the Financial Statements |
for the year ended 31 December 2024 |
1. | Statutory information |
ETLG Limited is a |
2. | Accounting policies |
Accounting convention |
These financial statements have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. |
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound. |
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. |
Turnover |
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. |
Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
Land and buildings (Freehold) | 50 years straight line |
Land and buildings (Leasehold) | 20% straight line |
Equipment for customer hire | 33.3% reducing balance |
Fixtures, fittings & equipment | 10% reducing balance / 20% straight line |
Motor vehicles | 25% reducing balance |
Fixed asset investments |
Interests in subsidiaries, are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. |
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. |
Cash at bank and in hand |
Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks. |
ETLG Limited (Registered number: 01346001) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2024 |
2. | Accounting policies - continued |
Financial instruments |
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets including trade debtors, classified as receivable within one year are not amortised. |
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 deducting all of its liabilities. |
Basic financial liabilities |
Basic financial liabilities, including creditors, are recognised at transaction price. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
Equity instruments |
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. |
Foreign exchange |
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss. |
Leases |
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases. |
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability. |
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed. Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. |
ETLG Limited (Registered number: 01346001) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2024 |
2. | Accounting policies - continued |
Retirement benefits |
The company operates a defined contribution scheme for the benefit of its employees and directors. Contributions payable are charged to the profit and loss account in the year they are payable. |
Employee benefits |
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. |
Taxation |
Current tax |
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date. |
Deferred tax |
Deferred tax liabilities are generally recognised for all timing difference and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Fixtures |
Long | Plant and | and | Motor |
leasehold | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1 January 2024 |
Additions |
At 31 December 2024 |
Depreciation |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
Net book value |
At 31 December 2024 |
At 31 December 2023 |
ETLG Limited (Registered number: 01346001) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2024 |
5. | Fixed asset investments |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: England and Wales |
Nature of business: |
% |
Class of shares: | holding |
6. | Debtors |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Prepayments |
Amounts falling due after more than one year: |
Directors' loan accounts | 76,648 | 69,346 |
Aggregate amounts |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Other loans |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
Included in other loans is £52,040 (2023: £128,405) secured by fixed and floating charges. |
8. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Directors' loan accounts | - | 11,707 |
ETLG Limited (Registered number: 01346001) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2024 |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary 'A' | 10p | 5,000 | 5,000 |
Ordinary 'B' | 10p | 1,000 | 1,000 |
6,000 | 6,000 |
10. | Financial commitments, guarantees and contingent liabilities |
There is a performance bond of £12,000 (2023 - £12,000) in favour of HM Customs and Excise. |
11. | Directors' advances, credits and guarantees |
Included in other debtors falling due after more than one year is £76,649 (2023: £51,618 owed to), owed by the directors to the company. This balance has been repaid to the company within nine months of the date of these financial statements. |