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Company Registration No. 13536487 (England and Wales)
Elevate Way Ltd Unaudited accounts for the year ended 31 March 2024
Elevate Way Ltd Unaudited accounts Contents
Page
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Elevate Way Ltd Company Information for the year ended 31 March 2024
Directors
Terence David Lengthorn Sharon Lengthorn
Company Number
13536487 (England and Wales)
Registered Office
233 Eltham Palace Road London Greenwich SE9 5NA England
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Elevate Way Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
21,403 
13,103 
Current assets
Debtors
217,402 
246,059 
Cash at bank and in hand
13,423 
43,355 
230,825 
289,414 
Creditors: amounts falling due within one year
(111,929)
(102,569)
Net current assets
118,896 
186,845 
Total assets less current liabilities
140,299 
199,948 
Creditors: amounts falling due after more than one year
- 
(9,000)
Provisions for liabilities
Deferred tax
(4,067)
(2,320)
Net assets
136,232 
188,628 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
136,230 
188,626 
Shareholders' funds
136,232 
188,628 
For the year ending 31 March 2024 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by
Terence David Lengthorn Director Company Registration No. 13536487
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Elevate Way Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Elevate Way Ltd is a private company, limited by shares, registered in England and Wales, registration number 13536487. The registered office is 233 Eltham Palace Road, London, Greenwich, SE9 5NA, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
3 years straight line
Motor vehicles
3 years straight line
Computer equipment
3 years straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Going concern
At the time of signing these accounts, the directors are of the opinion that the company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared under the going concern basis.
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Elevate Way Ltd Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
2,285 
15,600 
853 
18,738 
Additions
4,966 
14,144 
416 
19,526 
Disposals
- 
(5,200)
- 
(5,200)
At 31 March 2024
7,251 
24,544 
1,269 
33,064 
Depreciation
At 1 April 2023
316 
5,200 
119 
5,635 
Charge for the year
1,760 
5,733 
411 
7,904 
On disposals
- 
(1,878)
- 
(1,878)
At 31 March 2024
2,076 
9,055 
530 
11,661 
Net book value
At 31 March 2024
5,175 
15,489 
739 
21,403 
At 31 March 2023
1,969 
10,400 
734 
13,103 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
6,910 
8,651 
Trade debtors
65,862 
113,798 
Accrued income and prepayments
3,462 
2,309 
Other debtors
141,168 
121,301 
217,402 
246,059 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
16,738 
28,570 
Taxes and social security
30,392 
68,088 
Other creditors
55,690 
24 
Loans from directors
8,109 
4,887 
Accruals
1,000 
1,000 
111,929 
102,569 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Other creditors
- 
9,000 
8
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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