| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2024 |
| FOR |
| ELAN SALES LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2024 |
| FOR |
| ELAN SALES LIMITED |
| ELAN SALES LIMITED (REGISTERED NUMBER: 02175151) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| For The Year Ended 31 July 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| ELAN SALES LIMITED |
| COMPANY INFORMATION |
| For The Year Ended 31 July 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 1 Rushmills |
| Bedford Road |
| Northampton |
| Northamptonshire |
| NN4 7YB |
| ELAN SALES LIMITED (REGISTERED NUMBER: 02175151) |
| BALANCE SHEET |
| 31 July 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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. |
| ELAN SALES LIMITED (REGISTERED NUMBER: 02175151) |
| BALANCE SHEET - continued |
| 31 July 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| ELAN SALES LIMITED (REGISTERED NUMBER: 02175151) |
| NOTES TO THE FINANCIAL STATEMENTS |
| For The Year Ended 31 July 2024 |
| 1. | STATUTORY INFORMATION |
| Elan Sales Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are prepared in GBP and rounded to the nearest £. |
| Significant judgements and estimates |
| In the application of the company’s accounting policies, the director required to make judgements, |
| estimates and assumptions about the carrying amount of assets and liabilities that are not readily |
| apparent from other sources. The estimates and associated assumptions are based on historical |
| experience and other factors that are considered to be relevant. Actual results may differ from these |
| estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
| In the opinion of the directors there are no significant judgements or areas of estimation uncertainty. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales 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 provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Plant and machinery | - | 20% on reducing balance |
| Fixtures and fittings | - | 20% on reducing balance |
| Motor vehicles | - | 25% on reducing balance |
| Computer equipment | - | 25% on cost |
| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within 'administrative expenses' in the statement of income and retained earnings. At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. |
| ELAN SALES LIMITED (REGISTERED NUMBER: 02175151) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 July 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Costs to sell are based on the cost of purchase on a first in, first out basis. |
| When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stock to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
| Financial instruments |
| The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from bank and other third parties, loan's to related parties and investments in ordinary shares. |
| Short term debtors and creditors are measured at the transaction price. Other financial instruments, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form. |
| Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| 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. |
| 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 |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 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. |
| ELAN SALES LIMITED (REGISTERED NUMBER: 02175151) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 July 2024 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Short | Plant and | and |
| leasehold | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 August 2023 |
| Additions |
| At 31 July 2024 |
| DEPRECIATION |
| At 1 August 2023 |
| Charge for year |
| At 31 July 2024 |
| NET BOOK VALUE |
| At 31 July 2024 |
| At 31 July 2023 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 August 2023 |
| Additions |
| At 31 July 2024 |
| DEPRECIATION |
| At 1 August 2023 |
| Charge for year |
| At 31 July 2024 |
| NET BOOK VALUE |
| At 31 July 2024 |
| At 31 July 2023 |
| NBV of asset under H.P is £62,915 (2023 - £47,989) |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments |
| ELAN SALES LIMITED (REGISTERED NUMBER: 02175151) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 July 2024 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| VAT | 58,924 | 46,311 |
| Other creditors |
| Accruals and deferred income |
| Assets held under Hire purchase contracts are secured against the assets to which they relate. The Bounceback loan is unsecured. |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans - 2-5 years |
| Hire purchase contracts |
| 8. | OTHER FINANCIAL COMMITMENTS |
| The total of future minimum lease payments under non-cancellable operating leases are £57,976 (2023: £59,380). |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| At the balance sheet date the company owed the director £589.80 (2023 - £589.80) |
| 10. | RELATED PARTY DISCLOSURES |
| At the balance sheet date loan balances due to Directors totalled £39,780 (2023 - £40,000) on which interest was charged at 5% per annum. A Director current account balance is £590 (2023: £590). Amounts owed TC Cleaning machines Ltd, a related party through common control totalled £4,181 (2023: £4,995). All balances are held within other creditors. |