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ELEVATE PROPERTY SERVICES LTD

Registered Number
SC752205
(Scotland)

Unaudited Financial Statements for the Period ended
31 December 2023

ELEVATE PROPERTY SERVICES LTD
Company Information
for the period from 3 December 2022 to 31 December 2023

Director

DOYLE, Joanne

Registered Address

193 Dumbarton Road
Room 4
Clydebank
G81 4XJ

Registered Number

SC752205 (Scotland)
ELEVATE PROPERTY SERVICES LTD
Balance Sheet as at
31 December 2023

Notes

2023

£

£

Current assets
Debtors5,632
Cash at bank and on hand5,346
10,978
Creditors amounts falling due within one year3(10,517)
Net current assets (liabilities)461
Total assets less current liabilities461
Net assets461
Capital and reserves
Called up share capital1
Profit and loss account460
Shareholders' funds461
The financial statements were approved and authorised for issue by the Director on 3 September 2024, and are signed on its behalf by:
DOYLE, Joanne
Director
Registered Company No. SC752205
ELEVATE PROPERTY SERVICES LTD
Notes to the Financial Statements
for the period ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

2023
Average number of employees during the year1
3.Creditors: amounts due within one year

2023

£
Trade creditors / trade payables1,967
Amounts owed to related parties565
Taxation and social security1,984
Other creditors5,000
Accrued liabilities and deferred income1,001
Total10,517