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
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
Elevate Way Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
21,403
13,103
Cash at bank and in hand
13,423
43,355
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
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
Elevate Way Ltd
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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.
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.
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.
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
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
At 31 March 2024
5,175
15,489
739
21,403
At 31 March 2023
1,969
10,400
734
13,103
Amounts falling due within one year
Trade debtors
65,862
113,798
Accrued income and prepayments
3,462
2,309
Other debtors
141,168
121,301
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
16,738
28,570
Taxes and social security
30,392
68,088
Loans from directors
8,109
4,887
7
Creditors: amounts falling due after more than one year
2024
2023
8
Average number of employees
During the year the average number of employees was 3 (2023: 3).