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REGISTERED NUMBER: 09946155 (England and Wales)

































Unaudited Financial Statements

For The Year Ended

31 January 2024

for

ELITE SURFACING & EXC MANCHESTER LTD

ELITE SURFACING & EXC MANCHESTER LTD (REGISTERED NUMBER: 09946155)






Contents of the Financial Statements
For The Year Ended 31 January 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


ELITE SURFACING & EXC MANCHESTER LTD

Company Information
For The Year Ended 31 January 2024







DIRECTOR: Mr M A Peel





REGISTERED OFFICE: 8 Eastway
Sale
Cheshire
M33 4DX





REGISTERED NUMBER: 09946155 (England and Wales)





ACCOUNTANTS: Leavitt Walmsley Associates Limited
Chartered Certified Accountants
8 Eastway
Sale
Cheshire
M33 4DX

ELITE SURFACING & EXC MANCHESTER LTD (REGISTERED NUMBER: 09946155)

Abridged Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 136,376 160,203

CURRENT ASSETS
Stocks 12,004 12,000
Debtors 34,288 50,984
Cash at bank 66,759 17,045
113,051 80,029
CREDITORS
Amounts falling due within one year 110,402 113,873
NET CURRENT ASSETS/(LIABILITIES) 2,649 (33,844 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

139,025

126,359

CREDITORS
Amounts falling due after more than one year (12,492 ) (23,484 )

PROVISIONS FOR LIABILITIES (25,560 ) (30,014 )
NET ASSETS 100,973 72,861

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 100,873 72,761
SHAREHOLDERS' FUNDS 100,973 72,861

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

ELITE SURFACING & EXC MANCHESTER LTD (REGISTERED NUMBER: 09946155)

Abridged Balance Sheet - continued
31 January 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 April 2024 and were signed by:





Mr M A Peel - Director


ELITE SURFACING & EXC MANCHESTER LTD (REGISTERED NUMBER: 09946155)

Notes to the Financial Statements
For The Year Ended 31 January 2024

1. STATUTORY INFORMATION

Elite Surfacing & Exc Manchester 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 the provisions of FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including 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.

The company's policy of revenue recognition is to recognise a sale when the contractual obligations to the customer have been fulfilled. For contracts where obligations to the customer have not been fulfilled, but have been invoiced the sale is recognised within deferred income in current liabilities until such time a right to consideration arises.

The total turnover of the company for the year has been derived from its principal activity wholly undertaken with the United Kingdom.

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 - 20% on cost, 15% on reducing balance and 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

The company carries tangible fixed assets in the balance sheet using the depreciated historic cost method. Carrying amounts of fixed assets in the company's balance sheet are shown net of depreciation charges and, where applicable, provisions for impairment. Residual values of fixed assets are calculated on prices prevailing at the balance sheet date. If the assets were of the age and condition expected at the end of their useful economic lives. Profits or losses on the disposal of fixed assets are included in the calculation of profit for the period.

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

Work in progress is valued at the lower of cost and estimated selling price less costs to complete and sell.

Cost is calculated based on the charge-out rates of the staff and an estimate of other costs likely to be incurred in completing the transaction. Work in progress represents amounts which cannot be billed due to failing to meet the revenue recognition criteria in FRS 102.

ELITE SURFACING & EXC MANCHESTER LTD (REGISTERED NUMBER: 09946155)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit or loss. All other investments are subsequently measured at cost less impairment.

Debtors and creditors which fall due within one year are recorded in the financial statements at transaction price and subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting date and any impairments are recorded in profit or loss and shown within administrative expenses when there is objective evidence that a debtor is impaired. Objective evidence that a debtor is impaired arises when the customer is unable to settle amounts owing to the company or the customer becomes bankrupt.

Debtors do not carry interest and are stated at their nominal value.

Trade creditors are not interest-bearing and are stated at their nominal value.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

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.

Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year with an associated expense in profit or loss.

Government grants
Government grants are recognised when the entity expects to receive the grant and will comply with the grants conditions and are accounted for using the accrual model .Grants in respect of Covid-19 are recognised in income in the period the grant relates to.

Grants which become repayable are recognised as a liability in the balance sheet.

ELITE SURFACING & EXC MANCHESTER LTD (REGISTERED NUMBER: 09946155)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023
and 31 January 2024 259,674
DEPRECIATION
At 1 February 2023 99,471
Charge for year 23,827
At 31 January 2024 123,298
NET BOOK VALUE
At 31 January 2024 136,376
At 31 January 2023 160,203