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Registered number: 08620835
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ET Investments Limited
Directors' report and financial statements
5 April 2026
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Company information
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UNW Company Secretary Limited
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Contents
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Directors' responsibilities statement
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Statement of comprehensive income
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Statement of financial position
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Statement of changes in equity
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Notes to the financial statements
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Directors' report
For the year ended 5 April 2026
The directors present their report and the financial statements for the year ended 5 April 2026.
The profit for the year, after taxation, amounted to £20,519 (2025 - loss £43,584).
The directors have not recommended a dividend.
The directors who served during the year were:
Review of the business and future developments
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The company has a single unlisted investment initally recorded at cost of £568,116 which represents 8.4% of a Limited Partnership. The fair value of the investment is reviewed each year by the Limited Partnership's Manager. The investment income of £Nil (2025: £Nil) represents distributions from the investment and the net amount receivable in the year, after tax suffered and charges, would be debited to the loan account.
During the year the carrying value of the investment was increased by £24,979 following a fair value review. Further details are given in note 7 to the financial statements
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the board on 21 October 2026 and signed on its behalf by:
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Directors' responsibilities statement
For the year ended 5 April 2026
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of ET Investments Limited for the year ended 5 April 2026
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of ET Investments Limited for the year ended 5 April 2026 which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.
This report is made solely to the board of directors of ET Investments Limited, as a body, in accordance with the terms of our engagement letter dated 12 June 2025. Our work has been undertaken solely to prepare for your approval the financial statements of ET Investments Limited and state those matters that we have agreed to state to the board of directors of ET Investments Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ET Investments Limited and its board of directors, as a body, for our work or for this report.
It is your duty to ensure that ET Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of ET Investments Limited. You consider that ET Investments Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of ET Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
UNW LLP
Chartered Accountants
Citygate
St James' Boulevard
Newcastle upon Tyne
NE1 4JE
21 October 2026
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Statement of comprehensive income
For the year ended 5 April 2026
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Profit/(loss) for the financial year
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There was no other comprehensive income for 2026 and 2025.
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The notes on pages 7 to 12 form part of these financial statements.
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4
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Statement of financial position
As at 5 April 2026
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 October 2026.
Registered number: 08620835
The notes on pages 7 to 12 form part of these financial statements.
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Statement of changes in equity
For the year ended 5 April 2026
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Total comprehensive expense for the year
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Loss and total comprehensive expense for the year
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Total comprehensive income for the year
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Profit and total comprehensive income for the year
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The notes on pages 7 to 12 form part of these financial statements.
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6
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Notes to the financial statements
For the year ended 5 April 2026
ET Investments Limited (“the company”) is a limited company domiciled and incorporated in England.
The address of the company's registered office is Citygate, St James' Boulevard, Newcastle upon Tyne, NE1 4JE. The principal place of operations is Office 3A, Austin House, Sanderson Arcade, Morpeth, Northumberland, NE61 1NS.
The principal activity of the company during the year was that of an investment company.
2.Accounting policies
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Basis of preparation of financial statements
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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" ("FRS 102"), the requirements of the Companies Act 2006 as applicable to companies under the small companies regime and under the historical cost convention, modified to include certain financial investments at fair value.
The financial statements are prepared in sterling, which is the functional currency of the company, and are rounded to the nearest pound.
The company's business activities are set out in the Directors' Report.
The company continues to enjoy the support of its controlling parties Eaga Partnership Trustee Limited and Eaga Partnership Trustee Two Limited. The controlling parties of the company have at their disposal sufficient resources for the company to continue in operational existence for the foreseeable future and the directors of the controlling parties have confirmed their willingness to continue with this support.
As a consequence, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. They have therefore adopted the going concern basis of accounting in preparing these financial statements.
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Notes to the financial statements
For the year ended 5 April 2026
2.Accounting policies (continued)
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Investment income is accounted for in the period in which the company is entitled to the receipt.
Investments are included at fair value as described below:
Unlisted securities are included at fair value estimated by the directors as set out at note 7.
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102, in full, to all of its financial instruments.
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument, and are offset only when the company currently has a legally enforceable right to set off the recognised amounts and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets
Investments
Investments are included at fair value through net income and expenditure as described below:
Unlisted securities are included at fair value.
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Notes to the financial statements
For the year ended 5 April 2026
2.Accounting policies (continued)
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Financial instruments (continued)
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Financial liabilities and equity
Financial instruments are classified as liabilities and equity instruments according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Equity instruments
Financial instruments classified as equity instruments are recorded at the fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.
Borrowings
Borrowings are initially recognised at the transaction price, including transaction costs, and subsequently measured at amortised cost using the effective interest method. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and other similar charges.
Derecognition of financial assets and liabilities
A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. A financial liability (or part thereof) is derecognised when the obligation specified in the contract is is discharged, cancelled or expires
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Judgements in applying accounting policies and key sources of estimation uncertainty
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Critical accounting estimates and areas of judgement
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Investments
The carrying value of the investments is based on an annual report produced by the Limited Partnership's Manager including updates on financial performance and key issues and opportunities and the directors' assessment of the appropriate fair value.
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Notes to the financial statements
For the year ended 5 April 2026
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There has been no investment income arising in 2026 and 2025
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The whole of the investment income is attributable to the principal activity of the company wholly undertaken in the United Kingdom
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None of the directors received any remuneration from the company.
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Current tax on profits for the year
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Factors affecting tax charge for the year
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Profit/(loss) on ordinary activities before tax
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Profit/(loss) on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2025 - 25%)
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Total tax charge for the year
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The company has approximately £38,858 of trading losses carried forward at 5 April 2026 (2025: £34,398) available for offset against future profits of the same trade. No deferred tax asset has been recognised in relation to these losses, due to the uncertainty as to the timing of the utilisation.
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10
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Notes to the financial statements
For the year ended 5 April 2026
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The investment represents an investment of 568,116 units (8.4%) in a Limited Partnership
The carrying amount shown above represents the fair value of the investment. The Limited Partnership Manager and the directors of the company consider this to be an appropriate fair value assessment at 5 April 2026.
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Creditors: amounts falling due within one year
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Loan from related parties
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Notes to the financial statements
For the year ended 5 April 2026
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Financial assets measured at fair value through profit or loss
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Financial liabilities measured at amortised cost
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Financial assets measured at fair value through profit and loss comprise a fixed asset investment.
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Financial liabilities measured at amortised cost comprise loan from related parties and accruals.
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Issued, called up and fully paid
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2 Ordinary shares of £1.00 each
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Profit and loss account
Reserves of the company are represented by retained earnings which are the cumulative profit and loss net of distributions
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Related party transactions
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Accountancy fees of £4,460 (2025: £4,133) were paid by Eaga Employee Benefit Trust and Eaga Employee Benefit Trust Two. At the year end the company owed £566,917 (2025: £562,457) jointly to Eaga Employee Benefit Trust and Eaga Employee Benefit Trust Two. These loans are interest free and repayable on demand although the lenders reserve the right to charge interest.
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Ultimate controlling party
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In the opinion of the directors, the ultimate controlling parties are Eaga Partnership Trustee Limited and Eaga Partnership Trustee Two Limited which each hold 50% of the company's issued share capital on behalf of their respective trusts and have directors in common.
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