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REGISTERED NUMBER: 10574850 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

ELITE CHRISTMAS LIMITED

ELITE CHRISTMAS LIMITED (REGISTERED NUMBER: 10574850)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELITE CHRISTMAS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: Ms K P Merryweather
Mr A K Sweet





REGISTERED OFFICE: Wildacres
Farningham Hill Road
Farningham
Kent
DA4 0JR





REGISTERED NUMBER: 10574850 (England and Wales)





ACCOUNTANTS: Sargeant Partnership LLP
Chartered Accountants
5 White Oak Square
London Road
Swanley
Kent
BR8 7AG

ELITE CHRISTMAS LIMITED (REGISTERED NUMBER: 10574850)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 325
Tangible assets 5 25,440 23,139
25,440 23,464

CURRENT ASSETS
Stocks 21,566 22,590
Debtors 6 6,367 44,286
Cash at bank 149,363 107,026
177,296 173,902
CREDITORS
Amounts falling due within one year 7 100,465 91,046
NET CURRENT ASSETS 76,831 82,856
TOTAL ASSETS LESS CURRENT
LIABILITIES

102,271

106,320

CREDITORS
Amounts falling due after more than one
year

8

(16,250

)

(22,720

)

PROVISIONS FOR LIABILITIES 9 (2,151 ) (637 )
NET ASSETS 83,870 82,963

ELITE CHRISTMAS LIMITED (REGISTERED NUMBER: 10574850)

BALANCE SHEET - continued
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 4 4
Retained earnings 11 83,866 82,959
SHAREHOLDERS' FUNDS 83,870 82,963

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 October 2023 and were signed on its behalf by:





Ms K P Merryweather - Director


ELITE CHRISTMAS LIMITED (REGISTERED NUMBER: 10574850)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Elite Christmas Limited 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 Company 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 consists of services provided and is measured at the fair value of the consideration received or receivable excluding value added tax and is recognised on provision of service.

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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Buildings - 10% per annum on cost
Plant and machinery - 25% per annum on reducing balance
Fixtures and fittings - 25% per annum on reducing balance
Computer equipment - 25% per annum on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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


ELITE CHRISTMAS LIMITED (REGISTERED NUMBER: 10574850)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
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 company operates a defined contribution pension scheme. Contributions payable to the company'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 4 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 February 2022
and 31 January 2023 19,500
AMORTISATION
At 1 February 2022 19,175
Amortisation for year 325
At 31 January 2023 19,500
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 325

ELITE CHRISTMAS LIMITED (REGISTERED NUMBER: 10574850)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
Buildings machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 February 2022 29,614 2,357 475 3,805 36,251
Additions - 4,228 - 2,788 7,016
Disposals - - - (366 ) (366 )
At 31 January 2023 29,614 6,585 475 6,227 42,901
DEPRECIATION
At 1 February 2022 9,826 1,205 308 1,773 13,112
Charge for year 2,962 824 42 800 4,628
Eliminated on disposal - - - (279 ) (279 )
At 31 January 2023 12,788 2,029 350 2,294 17,461
NET BOOK VALUE
At 31 January 2023 16,826 4,556 125 3,933 25,440
At 31 January 2022 19,788 1,152 167 2,032 23,139

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,035 43,785
Other debtors 332 501
6,367 44,286

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,470 6,310
Trade creditors - 1,146
Taxation and social security 30,021 41,461
Other creditors 63,974 42,129
100,465 91,046

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 16,250 22,720

ELITE CHRISTMAS LIMITED (REGISTERED NUMBER: 10574850)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 2,151 637

Deferred
tax
£   
Balance at 1 February 2022 637
Provided during year 1,514
Balance at 31 January 2023 2,151

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
4 Ordinary £1 4 4

11. RESERVES
Retained
earnings
£   

At 1 February 2022 82,959
Profit for the year 4,907
Dividends (4,000 )
At 31 January 2023 83,866

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company owed the directors A Sweet - £21,868 (2022: £17,899), K Merryweather - £18,046 (2022: £22,163).

Dividends were voted in the year of £4000 (2022: £4000).

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the directors due to their equal shareholdings.