Registered number
10506033
Elder Street Limited
Filleted Accounts
31 March 2024
Elder Street Limited
Registered number: 10506033
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,653 2,203
Current assets
Stocks 30,000 5,000
Debtors 4 41,721 116,622
Cash at bank and in hand 8,262 60,928
79,983 182,550
Creditors: amounts falling due within one year 5 (19,958) (66,536)
Net current assets 60,025 116,014
Total assets less current liabilities 61,678 118,217
Creditors: amounts falling due after more than one year 6 (37,201) (42,810)
Net assets 24,477 75,407
Capital and reserves
Called up share capital 100 100
Profit and loss account 24,377 75,307
Shareholders' funds 24,477 75,407
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Everest D J Kellard
Director
Approved by the board on 19 September 2024
Elder Street Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
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).
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 9,268
At 31 March 2024 9,268
Depreciation
At 1 April 2023 7,065
Charge for the year 550
At 31 March 2024 7,615
Net book value
At 31 March 2024 1,653
At 31 March 2023 2,203
4 Debtors 2024 2023
£ £
Trade debtors 11,029 68,941
Prepayments 18,914 47,681
Other debtors 11,778 -
41,721 116,622
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 7,168 18,897
Accruals 1,912 2,087
Taxation and social security costs 7,290 19,251
Sundry creditors 3,588 26,301
19,958 66,536
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 37,201 42,810
7 Related party transactions
T Everest is a director and shareholder of GF (Clothing) Ltd. As at year end date 2024 amount £14,063 (2023 £44,033) owed by GF (Clothing) Ltd.
8 Other information
Elder Street Limited is a private company limited by shares and incorporated in England. Its registered office is:
119 Ullswater Crescent
London
SW15 3RE
Elder Street Limited 10506033 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts April 2024 T Everest D J Kellard No description of principal activity 10506033 2022-04-01 2023-03-31 10506033 core:WithinOneYear 2023-03-31 10506033 core:AfterOneYear 2023-03-31 10506033 core:ShareCapital 2023-03-31 10506033 core:RetainedEarningsAccumulatedLosses 2023-03-31 10506033 2023-04-01 2024-03-31 10506033 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10506033 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10506033 bus:Director40 2023-04-01 2024-03-31 10506033 1 2023-04-01 2024-03-31 10506033 2 2023-04-01 2024-03-31 10506033 core:PlantMachinery 2023-04-01 2024-03-31 10506033 countries:England 2023-04-01 2024-03-31 10506033 bus:FRS102 2023-04-01 2024-03-31 10506033 bus:FilletedAccounts 2023-04-01 2024-03-31 10506033 2024-03-31 10506033 core:WithinOneYear 2024-03-31 10506033 core:AfterOneYear 2024-03-31 10506033 core:ShareCapital 2024-03-31 10506033 core:RetainedEarningsAccumulatedLosses 2024-03-31 10506033 core:PlantMachinery 2024-03-31 10506033 2023-03-31 10506033 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure