Company registration number 05560176 (England and Wales)
ELVINS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
ELVINS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
ELVINS LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
30,709
48,190
Tangible assets
4
10,334
8,894
41,043
57,084
Current assets
Stocks
41,373
32,999
Debtors
5
6,077
8,218
Cash at bank and in hand
881,322
740,149
928,772
781,366
Creditors: amounts falling due within one year
6
(124,462)
(110,303)
Net current assets
804,310
671,063
Total assets less current liabilities
845,353
728,147
Provisions for liabilities
(1,480)
(1,100)
Net assets
843,873
727,047
Capital and reserves
Called up share capital
202
202
Profit and loss reserves
843,671
726,845
Total equity
843,873
727,047

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

ELVINS LTD
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2023
28 February 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 26 October 2023 and are signed on its behalf by:
Mr D Clark
Director
Company Registration No. 05560176
ELVINS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 3 -
1
Accounting policies
Company information

Elvins Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 7 Church Plain, Great Yarmouth, Norfolk, England, NR30 1PL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
- 15% reducing balance
Fixtures and fittings
- 15% reducing balance
Computers
- 33% straight line
Motor vehicles
- 25% reducing balance
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

ELVINS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

 

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
9
9
3
Intangible fixed assets
Goodwill
£
Cost
At 1 March 2022 and 28 February 2023
349,630
Amortisation and impairment
At 1 March 2022
301,439
Amortisation charged for the year
17,482
At 28 February 2023
318,921
Carrying amount
At 28 February 2023
30,709
At 28 February 2022
48,190
ELVINS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2022
49,735
Additions
4,000
At 28 February 2023
53,735
Depreciation and impairment
At 1 March 2022
40,842
Depreciation charged in the year
2,559
At 28 February 2023
43,401
Carrying amount
At 28 February 2023
10,334
At 28 February 2022
8,894
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,189
4,810
Other debtors
3,888
3,408
6,077
8,218
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
55,830
50,876
Corporation tax
47,149
38,118
Other taxation and social security
13,442
11,044
Other creditors
8,041
10,265
124,462
110,303
2023-02-282022-03-01falseCCH SoftwareCCH Accounts Production 2023.100No description of principal activityMr D ClarkMr D Larnder055601762022-03-012023-02-28055601762023-02-28055601762022-02-2805560176core:NetGoodwill2023-02-2805560176core:NetGoodwill2022-02-2805560176core:OtherPropertyPlantEquipment2023-02-2805560176core:OtherPropertyPlantEquipment2022-02-2805560176core:CurrentFinancialInstrumentscore:WithinOneYear2023-02-2805560176core:CurrentFinancialInstrumentscore:WithinOneYear2022-02-2805560176core:CurrentFinancialInstruments2023-02-2805560176core:CurrentFinancialInstruments2022-02-2805560176core:ShareCapital2023-02-2805560176core:ShareCapital2022-02-2805560176core:RetainedEarningsAccumulatedLosses2023-02-2805560176core:RetainedEarningsAccumulatedLosses2022-02-2805560176bus:Director12022-03-012023-02-2805560176core:PlantMachinery2022-03-012023-02-2805560176core:FurnitureFittings2022-03-012023-02-2805560176core:ComputerEquipment2022-03-012023-02-2805560176core:MotorVehicles2022-03-012023-02-28055601762021-03-012022-02-2805560176core:NetGoodwill2022-02-2805560176core:NetGoodwill2022-03-012023-02-2805560176core:OtherPropertyPlantEquipment2022-02-2805560176core:OtherPropertyPlantEquipment2022-03-012023-02-2805560176core:WithinOneYear2023-02-2805560176core:WithinOneYear2022-02-2805560176bus:PrivateLimitedCompanyLtd2022-03-012023-02-2805560176bus:SmallCompaniesRegimeForAccounts2022-03-012023-02-2805560176bus:FRS1022022-03-012023-02-2805560176bus:AuditExempt-NoAccountantsReport2022-03-012023-02-2805560176bus:Director22022-03-012023-02-2805560176bus:FullAccounts2022-03-012023-02-28xbrli:purexbrli:sharesiso4217:GBP