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REGISTERED NUMBER: 08768230 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Elite Coachworks & Horseboxes Ltd

Elite Coachworks & Horseboxes Ltd (Registered number: 08768230)






Contents of the Financial Statements
for the year ended 30 November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Elite Coachworks & Horseboxes Ltd

Company Information
for the year ended 30 November 2023







DIRECTOR: M Taylor





REGISTERED OFFICE: Doddington Park
Bridgemere
Nantwich
Cheshire
CW5 7PU





REGISTERED NUMBER: 08768230 (England and Wales)






Elite Coachworks & Horseboxes Ltd (Registered number: 08768230)

Statement of Financial Position
30 November 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 77,495 39,310

CURRENT ASSETS
Stocks 6 141,725 58,614
Debtors 7 4,922 215,976
Cash at bank and in hand 68,513 52,733
215,160 327,323
CREDITORS
Amounts falling due within one year 8 (188,322 ) (276,324 )
NET CURRENT ASSETS 26,838 50,999
TOTAL ASSETS LESS CURRENT
LIABILITIES

104,333

90,309

CREDITORS
Amounts falling due after more than one
year

9

(4,670

)

(8,148

)

PROVISIONS FOR LIABILITIES 11 (16,886 ) (6,680 )
NET ASSETS 82,777 75,481

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 82,775 75,479
SHAREHOLDERS' FUNDS 82,777 75,481

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Coachworks & Horseboxes Ltd (Registered number: 08768230)

Statement of Financial Position - continued
30 November 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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 August 2024 and were signed by:





M Taylor - Director


Elite Coachworks & Horseboxes Ltd (Registered number: 08768230)

Notes to the Financial Statements
for the year ended 30 November 2023

1. STATUTORY INFORMATION

Elite Coachworks & Horseboxes Limited ('The Company') is primarily engaged in horsebox conversions and bespoke coachworks services.

The company is a private company limited by shares and is incorporated in England and Wales. The address of the principal place of business and of the registered office is Doddington Park, Bridgemere, Nantwich, Cheshire, CW5 7PU. The registered number can be found on the Company Information page.

The functional and presentational currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

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

Summary of significant accounting policies
The principle accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented, unless otherwise stated.

Basis of preparation
The financial statements are prepared on the going concern basis under the historical cost convention and comply with the United Kingdom Accounting Standards and Companies Act 2006.

Going concern
No other material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the director.

On this basis the director considers it appropriate to prepare the financial statements on the going concern basis.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value).


Elite Coachworks & Horseboxes Ltd (Registered number: 08768230)

Notes to the Financial Statements - continued
for the year ended 30 November 2023

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of comprehensive income, 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 year end.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the year end.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

Elite Coachworks & Horseboxes Ltd (Registered number: 08768230)

Notes to the Financial Statements - continued
for the year ended 30 November 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2022 49,604 11,420 33,200 2,113 96,337
Additions 49,785 1,455 15,900 - 67,140
Disposals - - (3,860 ) - (3,860 )
At 30 November 2023 99,389 12,875 45,240 2,113 159,617
DEPRECIATION
At 1 December 2022 30,922 6,950 17,724 1,431 57,027
Charge for year 17,117 1,481 7,121 341 26,060
Eliminated on disposal - - (965 ) - (965 )
At 30 November 2023 48,039 8,431 23,880 1,772 82,122
NET BOOK VALUE
At 30 November 2023 51,350 4,444 21,360 341 77,495
At 30 November 2022 18,682 4,470 15,476 682 39,310

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
COST
At 1 December 2022
and 30 November 2023 23,490
DEPRECIATION
At 1 December 2022 13,580
Charge for year 2,478
At 30 November 2023 16,058
NET BOOK VALUE
At 30 November 2023 7,432
At 30 November 2022 9,910

6. STOCKS
2023 2022
£    £   
Stocks 104,225 58,614
Work-in-progress 37,500 -
141,725 58,614

Elite Coachworks & Horseboxes Ltd (Registered number: 08768230)

Notes to the Financial Statements - continued
for the year ended 30 November 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 211,533
Other debtors 4,922 4,443
4,922 215,976

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Finance leases (see note 10) 3,478 3,478
Trade creditors 45,145 166,610
Taxation and social security 5,167 42,769
Other creditors 134,532 63,467
188,322 276,324

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Finance leases (see note 10) 4,670 8,148

10. LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases
2023 2022
£    £   
Gross obligations repayable:
Within one year 4,436 4,436
Between one and five years 4,670 9,106
9,106 13,542

Finance charges repayable:
Within one year 958 958
Between one and five years - 958
958 1,916

Net obligations repayable:
Within one year 3,478 3,478
Between one and five years 4,670 8,148
8,148 11,626

Elite Coachworks & Horseboxes Ltd (Registered number: 08768230)

Notes to the Financial Statements - continued
for the year ended 30 November 2023

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 16,886 6,680

Deferred
tax
£   
Balance at 1 December 2022 6,680
Provided during year 10,206
Balance at 30 November 2023 16,886