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REGISTERED NUMBER: 07107689 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ELITE SURFACING LTD.

ELITE SURFACING LTD. (REGISTERED NUMBER: 07107689)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELITE SURFACING LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: K G Owen





REGISTERED OFFICE: Karlton House
Kelsall Road
Tarvin
Chester
Cheshire
CH3 8NR





REGISTERED NUMBER: 07107689 (England and Wales)





ACCOUNTANTS: Guy Walmsley Limited
Chartered Accountants
3 Grove Road
Wrexham
LL11 1DY

ELITE SURFACING LTD. (REGISTERED NUMBER: 07107689)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 166,597 140,148

CURRENT ASSETS
Stocks 10,000 2,500
Debtors 5 628,736 434,699
Cash at bank 48,791 22
687,527 437,221
CREDITORS
Amounts falling due within one year 6 678,416 364,137
NET CURRENT ASSETS 9,111 73,084
TOTAL ASSETS LESS CURRENT
LIABILITIES

175,708

213,232

CREDITORS
Amounts falling due after more than one year 7 72,931 89,916
NET ASSETS 102,777 123,316

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 102,775 123,314
SHAREHOLDERS' FUNDS 102,777 123,316

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 SURFACING LTD. (REGISTERED NUMBER: 07107689)

BALANCE SHEET - continued
31 DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2024 and were signed by:





K G Owen - Director


ELITE SURFACING LTD. (REGISTERED NUMBER: 07107689)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Elite Surfacing 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

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.
Improvements to property - not provided
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

ELITE SURFACING LTD. (REGISTERED NUMBER: 07107689)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 63,458 60,367 3,876
Additions - 60,000 -
At 31 December 2023 63,458 120,367 3,876
DEPRECIATION
At 1 January 2023 - 55,540 1,878
Charge for year - 16,207 200
At 31 December 2023 - 71,747 2,078
NET BOOK VALUE
At 31 December 2023 63,458 48,620 1,798
At 31 December 2022 63,458 4,827 1,998

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 185,774 7,131 320,606
Additions - 346 60,346
At 31 December 2023 185,774 7,477 380,952
DEPRECIATION
At 1 January 2023 116,805 6,235 180,458
Charge for year 17,242 248 33,897
At 31 December 2023 134,047 6,483 214,355
NET BOOK VALUE
At 31 December 2023 51,727 994 166,597
At 31 December 2022 68,969 896 140,148

ELITE SURFACING LTD. (REGISTERED NUMBER: 07107689)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 464,295 260,714
Other debtors 164,441 173,985
628,736 434,699

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 6,250 31,183
Hire purchase contracts 22,333 13,276
Trade creditors 465,677 157,633
Taxation and social security 100,663 59,234
Other creditors 83,493 102,811
678,416 364,137

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 28,125 34,375
Hire purchase contracts 44,806 30,000
Other creditors - 25,541
72,931 89,916

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,125 9,375