Company registration number 11738481 (England and Wales)
ELK Construction Ltd
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 December 2023
PAGES FOR FILING WITH REGISTRAR
ELK Construction Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
ELK Construction Ltd
Statement of financial position
as at 31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,046
4,062
Current assets
Stocks
4
311,140
310,723
Debtors
8,938
20,456
Cash at bank and in hand
3,118
30,580
323,196
361,759
Creditors: amounts falling due within one year
(22,689)
(47,645)
Net current assets
300,507
314,114
Total assets less current liabilities
303,553
318,176
Creditors: amounts falling due after more than one year
(246,646)
(246,646)
Net assets
56,907
71,530
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
56,807
71,430
Total equity
56,907
71,530
ELK Construction Ltd
Statement of financial position (continued)
as at 31 December 2023
- 2 -
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 12 September 2024 and are signed on its behalf by:
M B Buckley
Director
Company registration number 11738481 (England and Wales)
ELK Construction Ltd
Notes to the financial statements
for the year ended 31 December 2023
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% reducing balance basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Stocks
Work in progress is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and overheads.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
ELK Construction Ltd
Notes to the financial statements (continued)
for the year ended 31 December 2023
- 4 -
3
Tangible fixed assets
Total
£
Cost
At 1 January 2023 and 31 December 2023
5,000
Depreciation and impairment
At 1 January 2023
938
Depreciation charged in the year
1,016
At 31 December 2023
1,954
Carrying amount
At 31 December 2023
3,046
At 31 December 2022
4,062
4
Work in progress
2023
2022
£
£
Work in progress
311,140
310,723
5
Company information
ELK Construction Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Calderdale Business Park, Main Reception, Club Lane, Halifax, West Yorkshire, HX2 8DB.