2023-04-012024-03-312024-03-31false07682585LONDON ELITE ELECTRICAL 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LONDON ELITE ELECTRICAL LTD

Registered Number
07682585
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

LONDON ELITE ELECTRICAL LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

COLE, Richie James
DAVIES, Gareth

Registered Address

Outsource Financial Solutions Ltd
27 Purleigh Ave
Woodford Green
IG8 8DU

Registered Number

07682585 (England and Wales)
LONDON ELITE ELECTRICAL LTD
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets355,69162,554
55,69162,554
Current assets
Debtors161,782186,962
Cash at bank and on hand305,567354,643
467,349541,605
Creditors amounts falling due within one year(203,256)(133,818)
Net current assets (liabilities)264,093407,787
Total assets less current liabilities319,784470,341
Creditors amounts falling due after one year(22,881)(872)
Net assets296,903469,469
Capital and reserves
Called up share capital11
Profit and loss account296,902469,468
Shareholders' funds296,903469,469
The financial statements were approved and authorised for issue by the Board of Directors on 15 October 2024, and are signed on its behalf by:
COLE, Richie James
Director
DAVIES, Gareth
Director

Registered Company No. 07682585
LONDON ELITE ELECTRICAL LTD
Notes to the Financial Statements
for the year ended 31 March 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Office Equipment - 25% Reducing Balance Motor Vehicles - 25% Reducing Balance Plant and machinery - 25% Reducing Balance
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year88
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 2393,943
Additions12,995
Disposals(7,500)
At 31 March 2499,438
Depreciation and impairment
At 01 April 2331,389
Charge for year14,233
On disposals(1,875)
At 31 March 2443,747
Net book value
At 31 March 2455,691
At 31 March 2362,554