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Registration number: 12418977

Elorehai Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2023

 

Elorehai Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Elorehai Limited

Company Information

Directors

Mr P J White

Mrs D J White

Registered office

10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

Accountants

Phillip Carroll
10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Elorehai Limited
for the Year Ended 31 January 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Elorehai Limited for the year ended 31 January 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Elorehai Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Elorehai Limited and state those matters that we have agreed to state to the Board of Directors of Elorehai Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elorehai Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Elorehai Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Elorehai Limited. You consider that Elorehai Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Elorehai 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 accounts.

......................................


Phillip Carroll
10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

18 October 2023

 

Elorehai Limited

(Registration number: 12418977)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

20,017

26,032

Current assets

 

Debtors

5

3,854

7,387

Cash at bank and in hand

 

174,823

206,905

 

178,677

214,292

Creditors: Amounts falling due within one year

6

(5,578)

(1,821)

Net current assets

 

173,099

212,471

Total assets less current liabilities

 

193,116

238,503

Provisions for liabilities

(3,803)

(4,946)

Net assets

 

189,313

233,557

Capital and reserves

 

Called up share capital

100

100

Retained earnings

189,213

233,457

Shareholders' funds

 

189,313

233,557

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their 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.

 

Elorehai Limited

(Registration number: 12418977)
Balance Sheet as at 31 January 2023

Approved and authorised by the Board on 18 October 2023 and signed on its behalf by:
 

.........................................
Mr P J White
Director

 

Elorehai Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

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

The address of its registered office is:
10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

These financial statements were authorised for issue by the Board on 18 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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 deferred 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.

 

Elorehai Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% Straight line basis

Motor vehicles

25% Reducing balance basis

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 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 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.

 

Elorehai Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 4).

 

Elorehai Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2022

3,149

35,995

39,144

Additions

833

-

833

At 31 January 2023

3,982

35,995

39,977

Depreciation

At 1 February 2022

739

12,373

13,112

Charge for the year

943

5,905

6,848

At 31 January 2023

1,682

18,278

19,960

Carrying amount

At 31 January 2023

2,300

17,717

20,017

At 31 January 2022

2,410

23,622

26,032

5

Debtors

2023
£

2022
£

Trade debtors

3,000

-

Prepayments

835

1,107

Other debtors

19

6,280

3,854

7,387

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

52

-

Accruals and deferred income

1,667

1,821

Other creditors

3,859

-

5,578

1,821

 

Elorehai Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

7

Related party transactions

Transactions with directors

2023

At 1 February 2022
£

Repayments by director
£

At 31 January 2023
£

An interest free loan was provided and was repaid within 9 months after the year end.

6,164

(6,164)

-

       
     

 

2022

At 1 February 2021
£

Advances to director
£

Repayments by director
£

At 31 January 2022
£

An interest free loan was provided and was repaid within 9 months after the year end.

1,123

6,164

(1,123)

6,164