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Company Registration No. 13070648 (England and Wales)
Elegpro Ltd Unaudited accounts for the year ended 31 March 2024
Elegpro Ltd Unaudited accounts Contents
Page
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Elegpro Ltd Company Information for the year ended 31 March 2024
Director
Shiv Prakash Soni
Company Number
13070648 (England and Wales)
Registered Office
71-75 Shelton Street Covent Garden London WC2H 9JQ United Kingdom
Accountants
GCA (Scotland) Ltd 18 Clermiston Road North Edinburgh EH4 7BL
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Elegpro Ltd for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Elegpro Ltd for the year ended 31 March 2024 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.
This report is made solely to the Board of Directors of Elegpro Ltd, as a body, in accordance with the terms of our engagement letter dated 21 March 2022. Our work has been undertaken solely to prepare for your approval the accounts of Elegpro Ltd and state those matters that we have agreed to state to the Board of Directors of Elegpro Ltd, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elegpro Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Elegpro Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Elegpro Ltd. You consider that Elegpro Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Elegpro Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
GCA (Scotland) Ltd Chartered Accountants 18 Clermiston Road North Edinburgh EH4 7BL 17 August 2024
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Elegpro Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
751 
589 
Investment property
166,361 
166,361 
167,112 
166,950 
Current assets
Debtors
2,490 
58,199 
Cash at bank and in hand
54,720 
134,265 
57,210 
192,464 
Creditors: amounts falling due within one year
(38,508)
(158,391)
Net current assets
18,702 
34,073 
Total assets less current liabilities
185,814 
201,023 
Creditors: amounts falling due after more than one year
(90,755)
(94,117)
Net assets
95,059 
106,906 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
94,959 
106,806 
Shareholders' funds
95,059 
106,906 
For the year ending 31 March 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 August 2024 and were signed on its behalf by
Shiv Prakash Soni Director Company Registration No. 13070648
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Elegpro Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Elegpro Ltd is a private company, limited by shares, registered in England and Wales, registration number 13070648. The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
3 Years
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Elegpro Ltd Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 April 2023
884 
Additions
686 
At 31 March 2024
1,570 
Depreciation
At 1 April 2023
295 
Charge for the year
524 
At 31 March 2024
819 
Net book value
At 31 March 2024
751 
At 31 March 2023
589 
5
Investment property
2024 
£ 
Fair value at 1 April 2023
166,361 
At 31 March 2024
166,361 
The directors have valued the investment property at fair value.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
- 
58,199 
Other debtors
2,490 
- 
2,490 
58,199 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
3,000 
2,640 
Taxes and social security
- 
17,206 
Other creditors
171 
36 
Loans from directors
884 
2,141 
Accruals
34,453 
78,637 
Deferred income
- 
57,731 
38,508 
158,391 
The bank loan of £3,000 is secured against the investment property.
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Elegpro Ltd Notes to the Accounts for the year ended 31 March 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
90,755 
94,117 
Aggregate of amounts that fall due for payment after five years
78,755 
83,556 
The bank loan of £90,755 is secured against the investment property.
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Shiv Prakash Soni
DIrectors Loan
(2,141)
3,244 
1,987 
(884)
(2,141)
3,244 
1,987 
(884)
At the start of the year the company owed £2,141 to the director. During the year the director advanced or paid business expenditure amounting to £1,987. The company repaid £3,244 during the year. At the end of the year the company owes £884 to the director.
11
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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