Elite Site Engineering Limited 05802816 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is site engineering Digita Accounts Production Advanced 6.30.9574.0 true true 05802816 2022-06-01 2023-05-31 05802816 2023-05-31 05802816 bus:OrdinaryShareClass1 2023-05-31 05802816 core:CurrentFinancialInstruments 2023-05-31 05802816 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 05802816 core:FurnitureFittingsToolsEquipment 2023-05-31 05802816 bus:SmallEntities 2022-06-01 2023-05-31 05802816 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 05802816 bus:FullAccounts 2022-06-01 2023-05-31 05802816 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 05802816 bus:RegisteredOffice 2022-06-01 2023-05-31 05802816 bus:Director1 2022-06-01 2023-05-31 05802816 bus:Director2 2022-06-01 2023-05-31 05802816 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 05802816 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 05802816 core:FurnitureFittingsToolsEquipment 2022-06-01 2023-05-31 05802816 core:ToolsEquipment 2022-06-01 2023-05-31 05802816 countries:AllCountries 2022-06-01 2023-05-31 05802816 2022-05-31 05802816 core:FurnitureFittingsToolsEquipment 2022-05-31 05802816 2021-06-01 2022-05-31 05802816 2022-05-31 05802816 bus:OrdinaryShareClass1 2022-05-31 05802816 core:CurrentFinancialInstruments 2022-05-31 05802816 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 05802816 core:FurnitureFittingsToolsEquipment 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05802816

Elite Site Engineering Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

Elite Site Engineering Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Elite Site Engineering Limited

Company Information

Directors

Mr M Warlosz

Mr O Bell

Registered office

1 Penfold Road
Folkestone
Kent
CT19 6DG

Accountants

Burgess Accountancy Services
Accountant
46-47 The Strand
Walmer
Deal
Kent
CT14 7DX

 

Elite Site Engineering Limited

(Registration number: 05802816)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

27,607

36,392

Current assets

 

Debtors

5

(8,364)

3,116

Cash at bank and in hand

 

178,310

152,763

 

169,946

155,879

Creditors: Amounts falling due within one year

6

(30,043)

(19,141)

Net current assets

 

139,903

136,738

Total assets less current liabilities

 

167,510

173,130

Provisions for liabilities

(5,246)

(6,915)

Net assets

 

162,264

166,215

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

162,164

166,115

Shareholders' funds

 

162,264

166,215

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 January 2024 and signed on its behalf by:
 

 

Elite Site Engineering Limited

(Registration number: 05802816)
Balance Sheet as at 31 May 2023

.........................................
Mr O Bell
Director

 

Elite Site Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
1 Penfold Road
Folkestone
Kent
CT19 6DG

These financial statements were authorised for issue by the Board on 3 January 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Elite Site Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Tools & Equipment

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Elite Site Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Elite Site Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2022

87,856

87,856

At 31 May 2023

87,856

87,856

Depreciation

At 1 June 2022

51,464

51,464

Charge for the year

8,785

8,785

At 31 May 2023

60,249

60,249

Carrying amount

At 31 May 2023

27,607

27,607

At 31 May 2022

36,392

36,392

5

Debtors

Current

2023
£

2022
£

Trade debtors

(8,364)

2,522

Other debtors

-

594

 

(8,364)

3,116

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

3,372

-

Taxation and social security

 

17,363

10,684

Accruals and deferred income

 

2,650

2,400

Other creditors

 

6,658

6,057

 

30,043

19,141

 

Elite Site Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

3,372

-

9

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £400.00 (2022 - £200.00) per ordinary share

 

40,000

 

20,000

         

10

Related party transactions

 

Elite Site Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

24,300

21,600

Contributions paid to money purchase schemes

1,200

1,200

25,500

22,800