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REGISTERED NUMBER: 12155253 (England and Wales)















REPORT OF THE DIRECTORS AND

UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

ET RESOURCE HOLDINGS LTD

ET RESOURCE HOLDINGS LTD (REGISTERED NUMBER: 12155253)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Report of the Directors 2

Consolidated Income Statement 3

Consolidated Balance Sheet 4

Company Balance Sheet 6

Notes to the Consolidated Financial Statements 8


ET RESOURCE HOLDINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: C Briggs
J F Brown
K M Burrows
M A Ludlam
R L Parton
D N Norvock





REGISTERED OFFICE: Linley House
Dickinson Street
Manchester
M1 4LF





REGISTERED NUMBER: 12155253 (England and Wales)





ACCOUNTANTS: Strathmore Accountants Limited
3rd Floor, Ivy Mill,
Crown Street,
Failsworth
Manchester
M35 9BG

ET RESOURCE HOLDINGS LTD (REGISTERED NUMBER: 12155253)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 OCTOBER 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 October 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of the provision of higher education services.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 November 2023 to the date of this report.

C Briggs
J F Brown
K M Burrows
M A Ludlam
R L Parton

Other changes in directors holding office are as follows:

D N Norvock was appointed as a director after 31 October 2024 but prior to the date of this report.

CHARITABLE DONATIONS AND SPONSORSHIP
During the year the group provided sponsorship for a child from Ukraine in the sum of £19,702.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





J F Brown - Director


30 July 2025

ET RESOURCE HOLDINGS LTD (REGISTERED NUMBER: 12155253)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2024

Period
1.9.22
Year Ended to
31.10.24 31.10.23
Notes £ £

TURNOVER 2,436,944 2,259,410

Cost of sales (476,175 ) (254,700 )
GROSS PROFIT 1,960,769 2,004,710

Administrative expenses (1,809,024 ) (1,402,947 )
OPERATING PROFIT 4 151,745 601,763

Interest receivable and similar income 2,051 -
153,796 601,763

Interest payable and similar expenses (1,576 ) (38,069 )
PROFIT BEFORE TAXATION 152,220 563,694

Tax on profit (25,602 ) (76,908 )
PROFIT FOR THE FINANCIAL YEAR 126,618 486,786

Profit attributable to:
Owners of the parent 126,618 486,786

ET RESOURCE HOLDINGS LTD (REGISTERED NUMBER: 12155253)

CONSOLIDATED BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 6 2,284,801 1,939,712
Tangible assets 7 97,080 54,489
Investments 8 - -
2,381,881 1,994,201

CURRENT ASSETS
Debtors 9 875,218 698,739
Cash at bank and in hand 223,602 233,689
1,098,820 932,428
CREDITORS
Amounts falling due within one year 10 (791,048 ) (498,110 )
NET CURRENT ASSETS 307,772 434,318
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,689,653

2,428,519

CREDITORS
Amounts falling due after more than one
year

11

(45,150

)

-

PROVISIONS FOR LIABILITIES (316,274 ) (226,908 )
NET ASSETS 2,328,229 2,201,611

ET RESOURCE HOLDINGS LTD (REGISTERED NUMBER: 12155253)

CONSOLIDATED BALANCE SHEET - continued
31 OCTOBER 2024

2024 2023
Notes £ £
CAPITAL AND RESERVES
Called up share capital 99 99
Share premium 99,990 99,990
Retained earnings 711,898 585,280
811,987 685,369

NON-CONTROLLING INTERESTS 12 1,516,242 1,516,242
TOTAL EQUITY 2,328,229 2,201,611

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

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

The directors acknowledge their responsibilities for:
(a) ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

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

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2025 and were signed on its behalf by:





J F Brown - Director


ET RESOURCE HOLDINGS LTD (REGISTERED NUMBER: 12155253)

COMPANY BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 6 - -
Tangible assets 7 - -
Investments 8 385,059 89
385,059 89

CURRENT ASSETS
Debtors 9 380,250 99,220

CREDITORS
Amounts falling due within one year 10 (666,000 ) -
NET CURRENT (LIABILITIES)/ASSETS (285,750 ) 99,220
TOTAL ASSETS LESS CURRENT
LIABILITIES

99,309

99,309

CAPITAL AND RESERVES
Called up share capital 99 99
Share premium 99,990 99,990
Retained earnings (780 ) (780 )
99,309 99,309

Company's loss for the financial year - (780 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

ET RESOURCE HOLDINGS LTD (REGISTERED NUMBER: 12155253)

COMPANY BALANCE SHEET - continued
31 OCTOBER 2024


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

The financial statements were approved by the Board of Directors and authorised for issue on 28 July 2025 and were signed on its behalf by:





J F Brown - Director


ET RESOURCE HOLDINGS LTD (REGISTERED NUMBER: 12155253)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

ET Resource Holdings Ltd 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 General Information page.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019 and a second business in 2024, is being amotised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of ten years.

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.
Plant and machinery etc - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

ET RESOURCE HOLDINGS LTD (REGISTERED NUMBER: 12155253)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued

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.

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 group operates a defined contribution pension scheme. Contributions payable to the group'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 31 (2023 - 33 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

Period
1.9.22
Year Ended to
31.10.24 31.10.23
£ £
Depreciation - owned assets 32,862 43,789
Goodwill amortisation 15,317 17,870
Development costs amortisation 288,785 233,750

5. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


ET RESOURCE HOLDINGS LTD (REGISTERED NUMBER: 12155253)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

6. INTANGIBLE FIXED ASSETS

Group
Other
intangible
Goodwill assets Totals
£ £ £
COST
At 1 November 2023 153,168 2,337,502 2,490,670
Additions 98,842 550,349 649,191
At 31 October 2024 252,010 2,887,851 3,139,861
AMORTISATION
At 1 November 2023 63,821 487,137 550,958
Charge for year 15,317 288,785 304,102
At 31 October 2024 79,138 775,922 855,060
NET BOOK VALUE
At 31 October 2024 172,872 2,111,929 2,284,801
At 31 October 2023 89,347 1,850,365 1,939,712

7. TANGIBLE FIXED ASSETS

Group
Plant and
machinery
etc
£
COST
At 1 November 2023 257,294
Additions 84,859
At 31 October 2024 342,153
DEPRECIATION
At 1 November 2023 202,805
Charge for year 42,268
At 31 October 2024 245,073
NET BOOK VALUE
At 31 October 2024 97,080
At 31 October 2023 54,489

ET RESOURCE HOLDINGS LTD (REGISTERED NUMBER: 12155253)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

7. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£
COST
Additions 64,500
At 31 October 2024 64,500
DEPRECIATION
Charge for year 9,406
At 31 October 2024 9,406
NET BOOK VALUE
At 31 October 2024 55,094

8. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£
COST
At 1 November 2023 89
Additions 384,970
At 31 October 2024 385,059
NET BOOK VALUE
At 31 October 2024 385,059
At 31 October 2023 89


9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£ £ £ £
Trade debtors 444,981 19,598 - -
Other debtors 430,237 679,141 380,250 99,220
875,218 698,739 380,250 99,220

ET RESOURCE HOLDINGS LTD (REGISTERED NUMBER: 12155253)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£ £ £ £
Hire purchase contracts 12,900 - - -
Trade creditors 56,370 55,968 - -
Taxation and social security 131,890 43,797 - -
Other creditors 589,888 398,345 666,000 -
791,048 498,110 666,000 -

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2024 2023
£ £
Hire purchase contracts 45,150 -

12. NON-CONTROLLING INTERESTS

Non-controlling interest in one of the subsidiary entities represents preference shares held by 3 common directors that between them also have a significant control share holding of the parent.