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REGISTERED NUMBER: 12963688 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

AUTO ELITE 60 LTD

AUTO ELITE 60 LTD (REGISTERED NUMBER: 12963688)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AUTO ELITE 60 LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: Mr G M Madero





REGISTERED OFFICE: Unit 4 Denington Industrial Estate
Wellingborough
United Kingdom
NN8 2QH





REGISTERED NUMBER: 12963688 (England and Wales)





ACCOUNTANTS: Cube Partners Limited
Chartered Accountants
5 Giffard Court
Millbrook Close
Northampton
Northamptonshire
NN5 5JF

AUTO ELITE 60 LTD (REGISTERED NUMBER: 12963688)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,007 2,017

CURRENT ASSETS
Debtors 5 7,425 3,267
Cash at bank 2,023 2,034
9,448 5,301
CREDITORS
Amounts falling due within one year 6 4,924 4,634
NET CURRENT ASSETS 4,524 667
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,531

2,684

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 5,530 2,683
5,531 2,684

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 March 2024 and were signed by:





Mr G M Madero - Director


AUTO ELITE 60 LTD (REGISTERED NUMBER: 12963688)

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

1. STATUTORY INFORMATION

Auto Elite 60 Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 November 2022
and 31 October 2023 4,037
DEPRECIATION
At 1 November 2022 2,020
Charge for year 1,010
At 31 October 2023 3,030
NET BOOK VALUE
At 31 October 2023 1,007
At 31 October 2022 2,017

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 780
Other debtors 7,425 2,487
7,425 3,267

AUTO ELITE 60 LTD (REGISTERED NUMBER: 12963688)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 102 -
Taxation and social security 3,742 3,674
Other creditors 1,080 960
4,924 4,634

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, a director owed the company £6,683 (2022: £2,287). There are no formal terms of repayment and interest has been charged at the HMRC official rate.