0 31/12/2023 2023-12-31 false false false false true false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-01-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 05283615 2023-01-01 2023-12-31 05283615 2023-12-31 05283615 2022-12-31 05283615 2022-12-31 05283615 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 05283615 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 05283615 bus:LeadAgentIfApplicable 2023-01-01 2023-12-31 05283615 bus:Director2 2023-01-01 2023-12-31 05283615 core:WithinOneYear 2023-12-31 05283615 core:WithinOneYear 2022-12-31 05283615 core:FurnitureFittingsToolsEquipment 2022-12-31 05283615 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 05283615 core:ShareCapital 2023-12-31 05283615 core:ShareCapital 2022-12-31 05283615 core:RetainedEarningsAccumulatedLosses 2023-12-31 05283615 core:RetainedEarningsAccumulatedLosses 2022-12-31 05283615 bus:OrdinaryShareClass1 core:ShareCapital 2023-12-31 05283615 bus:OrdinaryShareClass1 core:ShareCapital 2022-12-31 05283615 bus:OrdinaryShareClass2 core:ShareCapital 2023-12-31 05283615 bus:OrdinaryShareClass2 core:ShareCapital 2022-12-31 05283615 bus:SmallEntities 2023-01-01 2023-12-31 05283615 bus:Audited 2023-01-01 2023-12-31 05283615 bus:FullAccounts 2023-01-01 2023-12-31 05283615 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05283615 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
Company registration number: 05283615
Companies House
Elite Logistic Consultants (GB) Limited
Filleted financial statements
31 December 2023
Elite Logistic Consultants (GB) Limited
Contents
Statement of financial position
Notes to the financial statements
Elite Logistic Consultants (GB) Limited
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Current assets
Debtors 6 1,484,409 1,810,604
Cash at bank and in hand 906,909 2,196,494
_________ _________
2,391,318 4,007,098
Creditors: amounts falling due
within one year 7 ( 2,282,696) ( 3,900,828)
_________ _________
Net current assets 108,622 106,270
_________ _______
Net assets 108,622 106,270
_________ _______
Capital and reserves
Called up share capital 8 100,000 100,000
Profit and loss account 8,622 6,270
_________ _______
Shareholders funds 108,622 106,270
_________ _______
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 July 2024 , and are signed on behalf of the board by:
I R Liddell
Director
Company registration number: 05283615
Elite Logistic Consultants (GB) Limited
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 13 Portland Road, Edgbaston, Birmingham, B16 9HN. The address of the business is Eclipse House, 2700 The Crescent, Birmingham Business Park, Birmingham, B37 7YE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity, and are rounded to the nearest £1.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. 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 capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment - 25 %
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 0 (2022: 0).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 January 2023 5,155 5,155
Disposals ( 5,155) ( 5,155)
_______ _______
At 31 December 2023 - -
_______ _______
Depreciation
At 1 January 2023 5,155 5,155
Disposals ( 5,155) ( 5,155)
_______ _______
At 31 December 2023 - -
_______ _______
Carrying amount
At 31 December 2023 - -
_______ _______
At 31 December 2022 - -
_______ _______
6. Debtors
2023 2022
£ £
Trade debtors 1,383,686 1,766,308
Other debtors 100,723 44,296
_________ _________
1,484,409 1,810,604
_________ _________
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 17,030 -
Trade creditors 1,109,108 1,704,682
Amounts owed to group undertakings 860,000 1,760,000
Accruals and deferred income 30,358 22,846
Corporation tax 266,200 413,300
_________ _________
2,282,696 3,900,828
_________ _________
8. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary A shares of £ 1.00 each 49,000 49,000 49,000 49,000
Ordinary B shares of £ 1.00 each 51,000 51,000 51,000 51,000
_______ _______ _______ _______
100,000 100,000 100,000 100,000
_______ _______ _______ _______
9. Summary audit opinion
The auditor's report for the year dated 19 July 2024 was unqualified.
The senior statutory auditor was R H D Gold for and on behalf of Barnett Ravenscroft Limited
10. Controlling party
The companys' parent undertaking is Elite Paloume Forwarders NV , a company registered in Belgium. The address of the parent undertaking's registered office is Viaduct Dam 106, B-2060 Antwerpen, Belgium.
11. Ultimate holding company
The company's ultimate holding company is Bertschi AG, a company registered in Switzerland.