IRIS Accounts Production v24.2.0.383 14256606 director 1.11.23 31.7.24 31.7.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh142566062023-10-31142566062024-07-31142566062023-11-012024-07-31142566062022-07-25142566062022-07-262023-10-31142566062023-10-3114256606ns15:EnglandWales2023-11-012024-07-3114256606ns14:PoundSterling2023-11-012024-07-3114256606ns10:Director12023-11-012024-07-3114256606ns10:PrivateLimitedCompanyLtd2023-11-012024-07-3114256606ns10:SmallEntities2023-11-012024-07-3114256606ns10:AuditExempt-NoAccountantsReport2023-11-012024-07-3114256606ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-07-3114256606ns10:SmallCompaniesRegimeForAccounts2023-11-012024-07-3114256606ns10:FullAccounts2023-11-012024-07-3114256606ns10:OrdinaryShareClass12023-11-012024-07-3114256606ns10:RegisteredOffice2023-11-012024-07-3114256606ns5:CurrentFinancialInstruments2024-07-3114256606ns5:CurrentFinancialInstruments2023-10-3114256606ns5:Non-currentFinancialInstruments2024-07-3114256606ns5:Non-currentFinancialInstruments2023-10-3114256606ns5:ShareCapital2024-07-3114256606ns5:ShareCapital2023-10-3114256606ns5:RetainedEarningsAccumulatedLosses2024-07-3114256606ns5:RetainedEarningsAccumulatedLosses2023-10-3114256606ns5:FurnitureFittings2023-11-012024-07-3114256606ns5:MotorVehicles2023-11-012024-07-3114256606ns5:ComputerEquipment2023-11-012024-07-3114256606ns5:LeaseholdImprovements2023-10-3114256606ns5:FurnitureFittings2023-10-3114256606ns5:MotorVehicles2023-10-3114256606ns5:ComputerEquipment2023-10-3114256606ns5:LeaseholdImprovements2023-11-012024-07-3114256606ns5:LeaseholdImprovements2024-07-3114256606ns5:FurnitureFittings2024-07-3114256606ns5:MotorVehicles2024-07-3114256606ns5:ComputerEquipment2024-07-3114256606ns5:LeaseholdImprovements2023-10-3114256606ns5:FurnitureFittings2023-10-3114256606ns5:MotorVehicles2023-10-3114256606ns5:ComputerEquipment2023-10-3114256606ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-10-3114256606ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-11-012024-07-3114256606ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-07-3114256606ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-10-3114256606ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-3114256606ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-3114256606ns5:DeferredTaxation2023-10-3114256606ns5:DeferredTaxation2023-11-012024-07-3114256606ns5:DeferredTaxation2024-07-3114256606ns10:OrdinaryShareClass12024-07-31
REGISTERED NUMBER: 14256606 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 NOVEMBER 2023 TO 31 JULY 2024

FOR

ELITECARSANDCOURIERS LTD

ELITECARSANDCOURIERS LTD (REGISTERED NUMBER: 14256606)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELITECARSANDCOURIERS LTD

COMPANY INFORMATION
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 JULY 2024







DIRECTOR: Mr S B Highsted





REGISTERED OFFICE: Pharmacy Chambers
High Street
Wadhurst
East Sussex
TN5 6AP





REGISTERED NUMBER: 14256606 (England and Wales)





ACCOUNTANTS: Honey Barrett Limited
Chartered Accountants
Pharmacy Chambers
High Street
Wadhurst
East Sussex
TN5 6AP

ELITECARSANDCOURIERS LTD (REGISTERED NUMBER: 14256606)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 41,174 36,046

CURRENT ASSETS
Debtors 6 51,955 24,610
Cash at bank 111,265 51,127
163,220 75,737
CREDITORS
Amounts falling due within one year 7 97,508 33,907
NET CURRENT ASSETS 65,712 41,830
TOTAL ASSETS LESS CURRENT
LIABILITIES

106,886

77,876

CREDITORS
Amounts falling due after more than one
year

8

22,903

22,445
NET ASSETS 83,983 55,431

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 83,883 55,331
SHAREHOLDERS' FUNDS 83,983 55,431

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 2024 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.

ELITECARSANDCOURIERS LTD (REGISTERED NUMBER: 14256606)

BALANCE SHEET - continued
31 JULY 2024


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 Profit and Loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 August 2024 and were signed by:





Mr S B Highsted - Director


ELITECARSANDCOURIERS LTD (REGISTERED NUMBER: 14256606)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 JULY 2024


1. STATUTORY INFORMATION

Elitecarsandcouriers 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on reducing balance
Equipment - straight line over 3 years

All fixed assets are initially recorded at cost.

ELITECARSANDCOURIERS LTD (REGISTERED NUMBER: 14256606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 JULY 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.


ELITECARSANDCOURIERS LTD (REGISTERED NUMBER: 14256606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 JULY 2024


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss account, 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.

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 period 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2023 - 2 ) .

ELITECARSANDCOURIERS LTD (REGISTERED NUMBER: 14256606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 JULY 2024


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property fittings vehicles Equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 November 2023 - 218 44,840 - 45,058
Additions 4,130 689 23,600 3,613 32,032
Disposals - - (17,100 ) - (17,100 )
Revaluations - - (2,850 ) - (2,850 )
At 31 July 2024 4,130 907 48,490 3,613 57,140
DEPRECIATION
At 1 November 2023 - 44 8,968 - 9,012
Charge for period 413 181 8,588 1,192 10,374
Eliminated on disposal - - (3,420 ) - (3,420 )
At 31 July 2024 413 225 14,136 1,192 15,966
NET BOOK VALUE
At 31 July 2024 3,717 682 34,354 2,421 41,174
At 31 October 2023 - 174 35,872 - 36,046

Cost or valuation at 31 July 2024 is represented by:

Improvements Fixtures
to and Motor
property fittings vehicles Equipment Totals
£    £    £    £    £   
Valuation in 2024 - - 3,650 - 3,650
Cost 4,130 907 44,840 3,613 53,490
4,130 907 48,490 3,613 57,140

ELITECARSANDCOURIERS LTD (REGISTERED NUMBER: 14256606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 JULY 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 November 2023 39,840
Additions 23,600
Disposals (17,100 )
Revaluations (2,850 )
At 31 July 2024 43,490
DEPRECIATION
At 1 November 2023 7,968
Charge for period 7,788
Eliminated on disposal (3,420 )
At 31 July 2024 12,336
NET BOOK VALUE
At 31 July 2024 31,154
At 31 October 2023 31,872

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 48,668 21,257
Other debtors 159 -
Deferred tax asset 3,128 1,860
Prepayments and accrued income - 1,493
51,955 24,610

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 9,459 7,640
Corporation tax 47,759 24,018
PAYE and social security 6,178 -
VAT 17,204 -
Directors' current accounts 12,313 180
Accruals and deferred income 4,595 2,069
97,508 33,907

ELITECARSANDCOURIERS LTD (REGISTERED NUMBER: 14256606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 NOVEMBER 2023 TO 31 JULY 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 22,903 22,445

9. DEFERRED TAX
£   
Balance at 1 November 2023 (1,860 )
Provided during period (1,268 )
Balance at 31 July 2024 (3,128 )

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100