2023-01-112024-01-312024-01-31false14584189ELITE ELECTRICAL PROJECTS 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ELITE ELECTRICAL PROJECTS LTD

Registered Number
14584189
(England and Wales)

Unaudited Financial Statements for the Period ended
31 January 2024

ELITE ELECTRICAL PROJECTS LTD
Company Information
for the period from 11 January 2023 to 31 January 2024

Director

PILLING, Sam

Registered Address

26 Orme Avenue
Salford
M6 8LT

Registered Number

14584189 (England and Wales)
ELITE ELECTRICAL PROJECTS LTD
Balance Sheet as at
31 January 2024

Notes

2024

£

£

Fixed assets
Tangible assets31,125
1,125
Current assets
Debtors425,938
Cash at bank and on hand434
26,372
Creditors amounts falling due within one year5(16,725)
Net current assets (liabilities)9,647
Total assets less current liabilities10,772
Net assets10,772
Capital and reserves
Called up share capital1
Profit and loss account10,771
Shareholders' funds10,772
The financial statements were approved and authorised for issue by the Director on 11 October 2024, and are signed on its behalf by:
PILLING, Sam
Director
Registered Company No. 14584189
ELITE ELECTRICAL PROJECTS LTD
Notes to the Financial Statements
for the period ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. There have been no judgements, estimates or assumptions made in the preparation of these financial statements.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery25
Trade and other 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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
2.Average number of employees

2024
Average number of employees during the year1
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
Revaluations1,5001,500
At 31 January 241,5001,500
Depreciation and impairment
Charge for year375375
At 31 January 24375375
Net book value
At 31 January 241,1251,125
At 10 January 23--
4.Debtors: amounts due within one year

2024

£
Trade debtors / trade receivables15,447
Other debtors10,491
Total25,938
5.Creditors: amounts due within one year

2024

£
Trade creditors / trade payables10,084
Taxation and social security5,077
Other creditors1,564
Total16,725