Registered number
06440567
Elite Tree Services Limited
Filleted Accounts
30 November 2023
Elite Tree Services Limited
Registered number: 06440567
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 184,907 185,345
Current assets
Stocks 2,000 2,500
Debtors 4 47,109 22,932
Cash at bank and in hand 207,707 166,059
256,816 191,491
Creditors: amounts falling due within one year 5 (169,619) (160,787)
Net current assets 87,197 30,704
Total assets less current liabilities 272,104 216,049
Creditors: amounts falling due after more than one year 6 (42,770) (30,443)
Provisions for liabilities (42,529) (35,216)
Net assets 186,805 150,390
Capital and reserves
Called up share capital 100 100
Profit and loss account 186,705 150,290
Shareholders' funds 186,805 150,390
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B Williams
Director
Approved by the board on 9 April 2024
Elite Tree Services Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance basis
Motor vehicles 25% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 15 16
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2022 212,672 260,350 473,022
Additions 10,558 34,995 45,553
Disposals (3,603) (6,700) (10,303)
At 30 November 2023 219,627 288,645 508,272
Depreciation
At 1 December 2022 135,861 151,816 287,677
Charge for the year 15,065 27,156 42,221
On disposals (2,660) (3,873) (6,533)
At 30 November 2023 148,266 175,099 323,365
Net book value
At 30 November 2023 71,361 113,546 184,907
At 30 November 2022 76,811 108,534 185,345
4 Debtors 2023 2022
£ £
Trade debtors 44,232 22,632
Other debtors 2,877 300
47,109 22,932
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 36,714 34,236
Trade creditors 22,801 48,530
Corporation tax 35,947 6,436
Taxation and social security costs 48,433 56,678
Directors loan account 17,838 7,978
Other creditors 7,886 6,929
169,619 160,787
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 42,770 30,443
7 Pension commitments
The company operates a defined contribution pension scheme on behalf of the director. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £12,000 (2022 - £12,000).
8 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 79,484 64,679
8 Bank charge and other security
Hire Purchase obligations are secured on the relevant asset acquired.
9 Controlling party
The company is controlled by the director, Mr B Williams who owns 51% of the called up share capital.
10 Other information
Elite Tree Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 6
Totman Close
Rayleigh
Essex
SS6 7UZ
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