Acorah Software Products - Accounts Production 15.0.500 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 13222761 Mr Lewis Foreman Mr Joseph Clifford iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13222761 2023-02-28 13222761 2024-02-29 13222761 2023-03-01 2024-02-29 13222761 frs-core:CurrentFinancialInstruments 2024-02-29 13222761 frs-core:MotorVehicles 2024-02-29 13222761 frs-core:MotorVehicles 2023-03-01 2024-02-29 13222761 frs-core:MotorVehicles 2023-02-28 13222761 frs-core:PlantMachinery 2024-02-29 13222761 frs-core:PlantMachinery 2023-03-01 2024-02-29 13222761 frs-core:PlantMachinery 2023-02-28 13222761 frs-core:WithinOneYear 2024-02-29 13222761 frs-core:ShareCapital 2024-02-29 13222761 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 13222761 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13222761 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 13222761 frs-bus:SmallEntities 2023-03-01 2024-02-29 13222761 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 13222761 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 13222761 frs-bus:Director1 2023-03-01 2024-02-29 13222761 frs-bus:Director2 2023-03-01 2024-02-29 13222761 frs-countries:EnglandWales 2023-03-01 2024-02-29 13222761 2022-02-28 13222761 2023-02-28 13222761 2022-03-01 2023-02-28 13222761 frs-core:CurrentFinancialInstruments 2023-02-28 13222761 frs-core:WithinOneYear 2023-02-28 13222761 frs-core:ShareCapital 2023-02-28 13222761 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 13222761
Elite Finish Solutions Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Abbotstones
Lemanis House
Stone Street
Lympne
Kent
CT21 4JN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13222761
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 16,752 20,822
16,752 20,822
CURRENT ASSETS
Debtors 5 7,785 6,720
Cash at bank and in hand - 1,892
7,785 8,612
Creditors: Amounts Falling Due Within One Year 6 (121,611 ) (97,761 )
NET CURRENT ASSETS (LIABILITIES) (113,826 ) (89,149 )
TOTAL ASSETS LESS CURRENT LIABILITIES (97,074 ) (68,327 )
NET LIABILITIES (97,074 ) (68,327 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (97,174 ) (68,427 )
SHAREHOLDERS' FUNDS (97,074) (68,327)
Page 1
Page 2
For the year ending 29 February 2024 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
Mr Lewis Foreman
Director
Mr Joseph Clifford
Director
29/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Elite Finish Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13222761 . The registered office is 6 Rosewood Drive, Ashford, Kent, TN25 4QF.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 March 2023 22,763 5,000 27,763
Additions 1,515 - 1,515
As at 29 February 2024 24,278 5,000 29,278
Depreciation
As at 1 March 2023 5,691 1,250 6,941
Provided during the period 4,647 938 5,585
As at 29 February 2024 10,338 2,188 12,526
Net Book Value
As at 29 February 2024 13,940 2,812 16,752
As at 1 March 2023 17,072 3,750 20,822
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,560 -
Other debtors 4,594 4,594
VAT 1,631 2,068
Other taxes and social security - 58
7,785 6,720
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 2,488
Bank loans and overdrafts 3,390 -
Other taxes and social security 94 -
Accruals and deferred income 750 750
Directors' loan accounts 117,377 94,523
121,611 97,761
Page 4
Page 5
7. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 2,488
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5