Registered number
10729915
Etchi Ltd
Report and Accounts
30 April 2024
Etchi Ltd
Registered number: 10729915
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 105,288 121,629
Current assets
Stocks 85,200 265,200
Debtors 4 24,322 14,839
Cash at bank and in hand 80,204 75,906
189,726 355,945
Creditors: amounts falling due within one year 5 (81,425) (304,142)
Net current assets 108,301 51,803
Total assets less current liabilities 213,589 173,432
Creditors: amounts falling due after more than one year 6 (28,272) (30,679)
Provisions for liabilities (17,552) (19,348)
Net assets 167,765 123,405
Capital and reserves
Called up share capital 100 100
Profit and loss account 167,665 123,305
Shareholder's funds 167,765 123,405
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Gursel Oztas
Director
Approved by the board on 17 April 2025
Etchi Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% on reducing balance
Motor vehicles 15% on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 22 16
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2023 97,667 86,068 183,735
Additions 2,088 - 2,088
At 30 April 2024 99,755 86,068 185,823
Depreciation
At 1 May 2023 37,942 24,164 62,106
Charge for the year 9,143 9,286 18,429
At 30 April 2024 47,085 33,450 80,535
Net book value
At 30 April 2024 52,670 52,618 105,288
At 30 April 2023 59,725 61,904 121,629
4 Debtors 2024 2023
£ £
Other debtors 24,322 14,839
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 23,188 215,428
Taxation and social security costs 38,237 38,714
Other creditors 20,000 50,000
81,425 304,142
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 28,272 30,679
7 Other information
Etchi Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2 Leaside Business Centre
Enfield
EN3 7BJ
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