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REGISTERED NUMBER: 07409183 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

ELITE ENTERPRISES (LONDON) LIMITED

ELITE ENTERPRISES (LONDON) LIMITED (Registered number: 07409183)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ELITE ENTERPRISES (LONDON) LIMITED

Company Information
for the Year Ended 31 October 2023







DIRECTOR: S J Rees





REGISTERED OFFICE: Unit 11 Diddenham Court
Lambwood Hill,
Grazeley,
Reading
Berkshire
RG7 1JQ





REGISTERED NUMBER: 07409183 (England and Wales)





ACCOUNTANTS: EDMONDS ACCOUNTANCY LIMITED
Unit 11, Diddenham Bus Park,
Diddenham Court
Grazeley,
READING
Berkshire
RG7 1JQ

ELITE ENTERPRISES (LONDON) LIMITED (Registered number: 07409183)

Statement of Financial Position
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,233 23,539

CURRENT ASSETS
Debtors 5 61,592 83,429
Cash at bank 7 21,188
61,599 104,617
CREDITORS
Amounts falling due within one year 6 45,788 81,328
NET CURRENT ASSETS 15,811 23,289
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,044

46,828

CREDITORS
Amounts falling due after more than one
year

7

(14,941

)

(29,974

)

PROVISIONS FOR LIABILITIES (3,274 ) (4,047 )
NET ASSETS 14,829 12,807

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 14,828 12,806
SHAREHOLDERS' FUNDS 14,829 12,807

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

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

ELITE ENTERPRISES (LONDON) LIMITED (Registered number: 07409183)

Statement of Financial Position - continued
31 October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 July 2024 and were signed by:





S J Rees - Director


ELITE ENTERPRISES (LONDON) LIMITED (Registered number: 07409183)

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

1. STATUTORY INFORMATION

ELITE ENTERPRISES (LONDON) LIMITED 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.

Revenue is recognised for the provision of services as the contractual activity progresses.

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 and 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

ELITE ENTERPRISES (LONDON) LIMITED (Registered number: 07409183)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 54,723
Disposals (2,750 )
At 31 October 2023 51,973
DEPRECIATION
At 1 November 2022 31,184
Charge for year 4,072
Eliminated on Disposal (516 )
At 31 October 2023 34,740
NET BOOK VALUE
At 31 October 2023 17,233
At 31 October 2022 23,539

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 31,170 55,809
Other debtors 30,422 27,620
61,592 83,429

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 6,750 -
Hire purchase contracts 3,918 3,918
Trade creditors 4,349 12,985
Taxation and social security 26,417 25,028
Other creditors 4,354 39,397
45,788 81,328

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 9,469 13,388
Other creditors 5,472 16,586
14,941 29,974

ELITE ENTERPRISES (LONDON) LIMITED (Registered number: 07409183)

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

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
S J Rees
Balance outstanding at start of year (35,806 ) (48,598 )
Amounts advanced (76,018 ) 76,968
Amounts repaid 110,831 (64,176 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (993 ) (35,806 )