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REGISTERED NUMBER: 07563802 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Electrical Elite Ltd

Electrical Elite Ltd (Registered number: 07563802)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Electrical Elite Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Philip J Rowe





SECRETARY: Philip J Rowe





REGISTERED OFFICE: 36 Barrack Road
Guildford
Surrey
GU2 9RU





REGISTERED NUMBER: 07563802 (England and Wales)





ACCOUNTANTS: Turner & Co
Chartered Accountants
10a White Hart Parade
London Road
Blackwater
Camberley
Surrey
GU17 9AD

Electrical Elite Ltd (Registered number: 07563802)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 45,451 55,649

CURRENT ASSETS
Stocks 500 500
Debtors 5 22,355 18,971
Cash at bank 37,114 25,880
59,969 45,351
CREDITORS
Amounts falling due within one year 6 25,941 27,248
NET CURRENT ASSETS 34,028 18,103
TOTAL ASSETS LESS CURRENT
LIABILITIES

79,479

73,752

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 79,478 73,751
SHAREHOLDERS' FUNDS 79,479 73,752

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

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

Electrical Elite Ltd (Registered number: 07563802)

Balance Sheet - continued
31 March 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 March 2024 and were signed by:





Philip J Rowe - Director


Electrical Elite Ltd (Registered number: 07563802)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Electrical Elite 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.

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 etc - 33% on cost, 25% on cost and 15% on cost

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

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


Electrical Elite Ltd (Registered number: 07563802)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 21,029 95,712 116,741
DEPRECIATION
At 1 April 2022 - 61,092 61,092
Charge for year - 10,198 10,198
At 31 March 2023 - 71,290 71,290
NET BOOK VALUE
At 31 March 2023 21,029 24,422 45,451
At 31 March 2022 21,029 34,620 55,649

Electrical Elite Ltd (Registered number: 07563802)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.3.23 31.3.22
£    £   
Trade debtors 2,226 103
Other debtors 20,129 18,868
22,355 18,971

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.3.23 31.3.22
£    £   
Trade creditors 1,822 3,603
Taxation and social security 7,746 9,405
Other creditors 16,373 14,240
25,941 27,248

7. ULTIMATE CONTROLLING PARTY

The controlling party is Philip J Rowe.