2022-04-012023-03-312023-03-31false04717635ELITENET 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ELITENET LIMITED

Registered Number
04717635
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

ELITENET LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

ECCLES, Lisa Angela
GOURY, Yuresan
TATTAM, Scott

Registered Address

The Old Granary
Dunton Road
Laindon
SS15 4DB

Registered Number

04717635 (England and Wales)
ELITENET LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets514,0459,587
14,0459,587
Current assets
Debtors7131,841194,801
Cash at bank and on hand108,26922,591
240,110217,392
Creditors amounts falling due within one year8(135,049)(129,192)
Net current assets (liabilities)105,06188,200
Total assets less current liabilities119,10697,787
Creditors amounts falling due after one year9(29,703)(36,617)
Net assets89,40361,170
Capital and reserves
Called up share capital1010
Profit and loss account89,39361,160
Shareholders' funds89,40361,170
The financial statements were approved and authorised for issue by the Board of Directors on 23 November 2023, and are signed on its behalf by:
GOURY, Yuresan
Director
Registered Company No. 04717635
ELITENET LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. 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.Accounting policies
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:
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year129
5.Property, plant and equipment

Total

£
Cost or valuation
At 01 April 2256,160
Additions9,140
At 31 March 2365,300
Depreciation and impairment
At 01 April 2246,573
Charge for year4,682
At 31 March 2351,255
Net book value
At 31 March 2314,045
At 31 March 229,587
6.Dividends proposed and payable

2023

2022

££
Dividends Paid20,44933,333
Total20,44933,333
7.Debtors

2023

2022

££
Trade debtors / trade receivables116,273194,801
Other debtors15,568-
Total131,841194,801
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables97,94994,400
Bank borrowings and overdrafts10,14310,143
Taxation and social security26,95724,649
Total135,049129,192
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts21,52430,563
Other creditors8,1796,054
Total29,70336,617
Long term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.