Registered number
11513648
ELLIOTT FAMILY LTD
Filleted Accounts
31 August 2024
ELLIOTT FAMILY LTD
Registered number: 11513648
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 12,150 15,400
Current assets
Cash at bank and in hand 1,538 534
Creditors: amounts falling due within one year 4 (51,302) (37,340)
Net current liabilities (49,764) (36,806)
Total assets less current liabilities (37,614) (21,406)
Creditors: amounts falling due after more than one year 5 (26,084) (31,106)
Net liabilities (63,698) (52,512)
Capital and reserves
Called up share capital 2 2
Profit and loss account (63,700) (52,514)
Shareholders' funds (63,698) (52,512)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
J Buckler-Picton
Director
Approved by the board on 26 June 2025
ELLIOTT FAMILY LTD
Notes to the Accounts
for the year ended 31 August 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 over 4years
Fixtures, fittings, tools and equipment over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 27,272
At 31 August 2024 27,272
Depreciation
At 1 September 2023 11,872
Charge for the year 3,250
At 31 August 2024 15,122
Net book value
At 31 August 2024 12,150
At 31 August 2023 15,400
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,021 10,021
Taxation and social security costs 28,782 23,943
Other creditors 12,499 3,376
51,302 37,340
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 26,084 31,106
6 Other information
ELLIOTT FAMILY LTD is a private company limited by shares and incorporated in England. Its registered office is:
103 Wrekin Close
Basingstoke
RG22 5BZ
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