Acorah Software Products - Accounts Production 14.5.601 false true true 30 April 2022 28 April 2021 false 1 May 2022 30 April 2023 30 April 2023 13365046 Gianmaria Panini Markus Zeller iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13365046 2022-04-30 13365046 2023-04-30 13365046 2022-05-01 2023-04-30 13365046 frs-core:CurrentFinancialInstruments 2023-04-30 13365046 frs-core:Non-currentFinancialInstruments 2023-04-30 13365046 frs-core:ShareCapital 2023-04-30 13365046 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30 13365046 frs-bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 13365046 frs-bus:FilletedAccounts 2022-05-01 2023-04-30 13365046 frs-bus:SmallEntities 2022-05-01 2023-04-30 13365046 frs-bus:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 13365046 frs-bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 13365046 frs-bus:Director1 2022-05-01 2023-04-30 13365046 frs-bus:Director2 2022-05-01 2023-04-30 13365046 frs-countries:EnglandWales 2022-05-01 2023-04-30 13365046 2021-04-27 13365046 2022-04-30 13365046 2021-04-28 2022-04-30 13365046 frs-core:CurrentFinancialInstruments 2022-04-30 13365046 frs-core:Non-currentFinancialInstruments 2022-04-30 13365046 frs-core:ShareCapital 2022-04-30 13365046 frs-core:RetainedEarningsAccumulatedLosses 2022-04-30
Registered number: 13365046
Elite Capital Group Limited
Unaudited Financial Statements
For The Year Ended 30 April 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 13365046
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 1,059,558 549,299
Cash at bank and in hand 260,658 186,083
1,320,216 735,382
Creditors: Amounts Falling Due Within One Year 5 (669,272 ) (395,145 )
NET CURRENT ASSETS (LIABILITIES) 650,944 340,237
TOTAL ASSETS LESS CURRENT LIABILITIES 650,944 340,237
Creditors: Amounts Falling Due After More Than One Year 6 (730,800 ) (341,104 )
NET LIABILITIES (79,856 ) (867 )
CAPITAL AND RESERVES
Called up share capital 7 200 200
Profit and Loss Account (80,056 ) (1,067 )
SHAREHOLDERS' FUNDS (79,856) (867)
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Markus Zeller
Director
30 August 2023
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Elite Capital Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13365046 . The registered office is 809, Salisbury House, 29 Finsbury Circus, London, EC2M 7AQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. The directors believe that the company would have sufficient resources to continue to trade for foreseeable future.
2.3. Turnover
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:
Interest income
Revenue is recognised as interest accrues using the effective interest method.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 5,000 2,101
5,000 2,101
Due after more than one year
Other debtors 40,000 -
Amounts owed by group undertakings 1,014,558 547,198
1,054,558 547,198
1,059,558 549,299
Page 2
Page 3
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Accruals and deferred income 30,098 540
Directors' loan accounts 639,174 394,605
669,272 395,145
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Amounts owed to related parties 730,800 341,104
730,800 341,104
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 200 200
8. Related Party Transactions
Included in creditors due within one year is an amount of £639,174 (2022: £394,605) owed to its directors. The amount is interest free and repayable on demand.
Included in debtors due after more than one year is an amount of £1,014,558 (2022: £547,198) owed by its subsidiary undertakings. The amount is interest-free and receivable on demand. 
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