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Elite Financial Advice Limited

Registered Number
SC586790
(Scotland)

Unaudited Financial Statements for the Year ended
31 January 2023

Elite Financial Advice Limited
Company Information
for the year from 1 February 2022 to 31 January 2023

Director

Bechelli, Natasha

Registered Address

84 Dundonald Road
Kilmarnock
KA1 1TH

Registered Number

SC586790 (Scotland)
Elite Financial Advice Limited
Balance Sheet as at
31 January 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets62,6921,827
2,6921,827
Current assets
Cash at bank and on hand217,589178,781
217,589178,781
Creditors amounts falling due within one year7(57,327)(45,004)
Net current assets (liabilities)160,262133,777
Total assets less current liabilities162,954135,604
Creditors amounts falling due after one year8(13,819)(19,902)
Net assets149,135115,702
Capital and reserves
Called up share capital4,0004,000
Profit and loss account145,135111,702
Shareholders' funds149,135115,702
The financial statements were approved and authorised for issue by the Director on 4 October 2023, and are signed on its behalf by:
Bechelli, Natasha
Director
Registered Company No. SC586790
Elite Financial Advice Limited
Notes to the Financial Statements
for the year ended 31 January 2023

1.Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in 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.
4.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Fixtures and fittings25-
Office Equipment-3
Revenue recognition policy
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.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20232022
Average number of employees during the year34
6.Property, plant and equipment

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 February 228033,3294,132
Additions-1,9371,937
At 31 January 238035,2666,069
Depreciation and impairment
At 01 February 223311,9742,305
Charge for year1189541,072
At 31 January 234492,9283,377
Net book value
At 31 January 233542,3382,692
At 31 January 224721,3551,827
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables845650
Bank borrowings and overdrafts6,1796,095
Taxation and social security16,19412,607
Other creditors34,10925,652
Total57,32745,004
8.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts13,81919,902
Total13,81919,902