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REGISTERED NUMBER: 03836626 (England and Wales)


















Financial Statements

for the Year Ended 31st December 2024

for

David Eaton Tractors Limited

David Eaton Tractors Limited (Registered number: 03836626)






Contents of the Financial Statements
for the Year Ended 31st December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


David Eaton Tractors Limited

Company Information
for the Year Ended 31st December 2024







DIRECTORS: D G Eaton
J M Eaton
M E Eaton





SECRETARY: Mrs L M Eaton





REGISTERED OFFICE: Stone Road
Fradswell
Stafford
Staffordshire
ST18 0HA





REGISTERED NUMBER: 03836626 (England and Wales)





ACCOUNTANTS: Rice & Co Limited
Chartered Accountants
14a Market Place
Uttoxeter
Staffordshire
ST14 8HP

David Eaton Tractors Limited (Registered number: 03836626)

Balance Sheet
31st December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 356,197 393,924

CURRENT ASSETS
Stocks 5 1,628,647 1,531,269
Debtors 6 298,142 469,991
Cash in hand 1,000 1,984
1,927,789 2,003,244
CREDITORS
Amounts falling due within one year 7 1,075,171 1,177,523
NET CURRENT ASSETS 852,618 825,721
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,208,815

1,219,645

CREDITORS
Amounts falling due after more than one
year

8

(22,029

)

(37,225

)

PROVISIONS FOR LIABILITIES (42,233 ) (51,736 )
NET ASSETS 1,144,553 1,130,684

CAPITAL AND RESERVES
Called up share capital 40,000 40,000
Retained earnings 1,104,553 1,090,684
SHAREHOLDERS' FUNDS 1,144,553 1,130,684

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

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.

David Eaton Tractors Limited (Registered number: 03836626)

Balance Sheet - continued
31st December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3rd July 2025 and were signed on its behalf by:





D G Eaton - Director


David Eaton Tractors Limited (Registered number: 03836626)

Notes to the Financial Statements
for the Year Ended 31st December 2024

1. STATUTORY INFORMATION

David Eaton Tractors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover comprises the value of sales ( excluding VAT, similar taxes and trade discounts) of goods and services provided in the normal course of business. Revenue is recognised when goods are delivered and hence is the point at which risk and rewards of ownership pass to the buyer. Turnover in respect of service contracts is recognised when the company obtains the right to receive consideration for services provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land - not provided
Improvements to property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


David Eaton Tractors Limited (Registered number: 03836626)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

David Eaton Tractors Limited (Registered number: 03836626)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and
Land property machinery
£    £    £   
COST
At 1st January 2024 101,598 21,160 999,829
Additions - - 3,250
Disposals - - (8,245 )
At 31st December 2024 101,598 21,160 994,834
DEPRECIATION
At 1st January 2024 - 423 778,560
Charge for year - 423 55,830
Eliminated on disposal - - (8,050 )
At 31st December 2024 - 846 826,340
NET BOOK VALUE
At 31st December 2024 101,598 20,314 168,494
At 31st December 2023 101,598 20,737 221,269

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st January 2024 10,547 141,250 7,306 1,281,690
Additions - 36,348 - 39,598
Disposals - - - (8,245 )
At 31st December 2024 10,547 177,598 7,306 1,313,043
DEPRECIATION
At 1st January 2024 6,709 94,768 7,306 887,766
Charge for year 939 19,938 - 77,130
Eliminated on disposal - - - (8,050 )
At 31st December 2024 7,648 114,706 7,306 956,846
NET BOOK VALUE
At 31st December 2024 2,899 62,892 - 356,197
At 31st December 2023 3,838 46,482 - 393,924


David Eaton Tractors Limited (Registered number: 03836626)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

5. STOCKS
2024 2023
£    £   
Stocks 1,628,647 1,531,269

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 258,798 419,546
Other debtors 39,344 50,445
298,142 469,991

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 81,784 90,377
Hire purchase contracts 33,406 29,971
Trade creditors 349,680 405,383
Taxation and social security 75,359 95,932
Other creditors 534,942 555,860
1,075,171 1,177,523

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 5,833 15,833
Hire purchase contracts 16,196 21,392
22,029 37,225

David Eaton Tractors Limited (Registered number: 03836626)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 71,784 80,377
Hire purchase contracts 49,602 51,363
121,386 131,740

The bank overdraft is secured fixed and floating charges over the undertaking and all property and assets.

Hire purchase contracts are secured over the asset to which they relate.