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REGISTERED NUMBER: 03368304 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

ELITE STORAGE LTD

ELITE STORAGE LTD (REGISTERED NUMBER: 03368304)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ELITE STORAGE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: L Wilkes





REGISTERED OFFICE: New Holder Street
Bolton
BL1 4SN





REGISTERED NUMBER: 03368304 (England and Wales)





ACCOUNTANTS: P B Syddall & Co
Chartered Accountants
Grafton House
81 Chorley Old Road
Bolton
Lancashire
BL1 3AJ

ELITE STORAGE LTD (REGISTERED NUMBER: 03368304)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,735 33,676

CURRENT ASSETS
Debtors 5 5,609 8,034
Cash at bank and in hand 205,093 207,817
210,702 215,851
CREDITORS
Amounts falling due within one year 6 36,596 48,384
NET CURRENT ASSETS 174,106 167,467
TOTAL ASSETS LESS CURRENT
LIABILITIES

204,841

201,143

CAPITAL AND RESERVES
Called up share capital 500 500
Capital redemption reserve 550 550
Retained earnings 203,791 200,093
204,841 201,143

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 9 September 2024 and were signed by:




L Wilkes - Director


ELITE STORAGE LTD (REGISTERED NUMBER: 03368304)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Elite Storage 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.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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 2 (2023 - 2 ) .

ELITE STORAGE LTD (REGISTERED NUMBER: 03368304)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2023 115,808 14,500 130,308
Additions 2,516 - 2,516
At 31 May 2024 118,324 14,500 132,824
DEPRECIATION
At 1 June 2023 84,713 11,919 96,632
Charge for year 4,812 645 5,457
At 31 May 2024 89,525 12,564 102,089
NET BOOK VALUE
At 31 May 2024 28,799 1,936 30,735
At 31 May 2023 31,095 2,581 33,676

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,130 4,603
Other debtors 614 884
Prepayments 1,865 2,547
5,609 8,034

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 449 345
Tax 10,967 18,751
Social security and other taxes 196 208
VAT 6,818 8,654
Other creditors 15,544 16,712
Directors current account 2,014 2,660
Accrued expenses 608 1,054
36,596 48,384