ECO SIPs Homes Limited |
Notes to the Accounts |
for the year ended 31 August 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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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 and is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
2 |
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2 |
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3 |
Tangible fixed assets |
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Plant and machinery etc |
£ |
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Cost |
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At 1 September 2023 |
1,829 |
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At 31 August 2024 |
1,829 |
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Depreciation |
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At 1 September 2023 |
366 |
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Charge for the year |
292 |
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At 31 August 2024 |
658 |
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Net book value |
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At 31 August 2024 |
1,171 |
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At 31 August 2023 |
1,463 |
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4 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Corporation tax |
- |
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180 |
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Other taxes and social security costs |
(95) |
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1,187 |
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Other creditors |
2,238 |
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720 |
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2,143 |
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2,087 |
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5 |
Other information |
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ECO SIPs Homes Limited is a private company limited by shares and incorporated in Scotland. Its registered office is: |
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55 West Vows Walk |
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Kirkcaldy |
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Fife |
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KY1 1RX |