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Elite Entry Locksmiths Limited

Registration number : 13678448



















Annual Report and Unaudited Financial Statements

for the period from 14 October 2021 to 31 October 2022

 

Elite Entry Locksmiths Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Elite Entry Locksmiths Limited

Company Information

Director

Mr Neil Hunter

Registered office

Maghull Business Centre
1 Liverpool Road North
Maghull
Merseyside
L31 2HB

Accountants

McParland Williams Limited
13 Liverpool Road North
Maghull
Merseyside
L31 2HB

 

Elite Entry Locksmiths Limited

(Registration number: 13678448)
Balance Sheet as at 31 October 2022

Note

2022
£

Current assets

 

Debtors

5

16,919

Cash at bank and in hand

 

7,731

 

24,650

Creditors: Amounts falling due within one year

6

(12,356)

Net assets

 

12,294

Capital and reserves

 

Called up share capital

100

Profit and loss account

12,194

Total equity

 

12,294

For the financial period ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 October 2023
 

.........................................
Mr Neil Hunter
Director

   
     
 

Elite Entry Locksmiths Limited

Notes to the Unaudited Financial Statements for the period from 14 October 2021 to 31 October 2022

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Maghull Business Centre
1 Liverpool Road North
Maghull
Merseyside
L31 2HB

These financial statements were authorised for issue by the director on 13 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Elite Entry Locksmiths Limited

Notes to the Unaudited Financial Statements for the period from 14 October 2021 to 31 October 2022

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 taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Taxation

Tax charged/(credited) in the income statement

14 October 2021 to 31 October 2022
 £

Current taxation

UK corporation tax

2,860

 

Elite Entry Locksmiths Limited

Notes to the Unaudited Financial Statements for the period from 14 October 2021 to 31 October 2022

5

Debtors

2022
£

Trade debtors

15,795

Other debtors

1,124

16,919

6

Creditors

Creditors: amounts falling due within one year

2022
£

Due within one year

Trade creditors

2,532

Taxation and social security

2,860

Accruals and deferred income

750

Other creditors

6,214

12,356

7

Share capital

Allotted, called up and fully paid shares

 

2022

 

No.

£

Ordinary of £100 each

1

100