Registered number
04914785
ELITE FINANCE & INVESTMENT LTD
Filleted Accounts
30 September 2024
ELITE FINANCE & INVESTMENT LTD
Registered number: 04914785
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 202,000 200,000
Cash at bank and in hand 3,779 7,977
205,779 207,977
Creditors: amounts falling due within one year 4 (3,897) (3,095)
Net current assets 201,882 204,882
Total assets less current liabilities 201,882 204,882
Creditors: amounts falling due after more than one year 5 (200,000) (200,000)
Net assets 1,882 4,882
Capital and reserves
Called up share capital 300 300
Profit and loss account 1,582 4,582
Shareholders' funds 1,882 4,882
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.
Sami K Elias
Director
Approved by the board on 2 October 2024
ELITE FINANCE & INVESTMENT LTD
Notes to the Accounts
for the year ended 30 September 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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2024 2023
£ £
Accrued Income 2,000 -
Other debtors 200,000 200,000
202,000 200,000
4 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals 750 750
Corporation Tax 335 104
Other creditors 2,812 2,241
3,897 3,095
5 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 200,000 200,000
6 Other information
ELITE FINANCE & INVESTMENT LTD is a private company limited by shares and incorporated in England. Its registered office is:
92 Crawford Street
London
W1H 2HE
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