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Registration number: 15156974

Sales Elevate 360 Ltd

Unaudited Filleted Financial Statements

for the Period from 22 September 2023 to 30 September 2024

 

Sales Elevate 360 Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Sales Elevate 360 Ltd

Company Information

Director

Mrs Denise Rose Sheppard

Registered office

Frogs Hall
Braiseworth Lane
Braiseworth
Suffolk
IP23 7HB

Accountants

Jacobs Allen Limited
Chartered Accountants and Chartered Tax Advisers
59 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1LB

 

Sales Elevate 360 Ltd

(Registration number: 15156974)
Balance Sheet as at 30 September 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

1,714

Current assets

 

Debtors

5

3,482

Cash at bank and in hand

 

24,136

 

27,618

Creditors: Amounts falling due within one year

6

(11,785)

Net current assets

 

15,833

Total assets less current liabilities

 

17,547

Provisions for liabilities

(326)

Net assets

 

17,221

Capital and reserves

 

Called up share capital

7

1

Retained earnings

17,220

Shareholders' funds

 

17,221

For the financial period ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 October 2024
 

.........................................
Mrs Denise Rose Sheppard
Director

 

Sales Elevate 360 Ltd

Notes to the Unaudited Financial Statements for the Period from 22 September 2023 to 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Frogs Hall
Braiseworth Lane
Braiseworth
Suffolk
IP23 7HB

These financial statements were authorised for issue by the director on 16 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Disclosure of long or short period

This first accounting period is for just over a year, from incorporation on 22 September 2023 to 30 September 2024.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Sales Elevate 360 Ltd

Notes to the Unaudited Financial Statements for the Period from 22 September 2023 to 30 September 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

33% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Sales Elevate 360 Ltd

Notes to the Unaudited Financial Statements for the Period from 22 September 2023 to 30 September 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

 

Sales Elevate 360 Ltd

Notes to the Unaudited Financial Statements for the Period from 22 September 2023 to 30 September 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

2,287

2,287

Disposals

(350)

(350)

At 30 September 2024

1,937

1,937

Depreciation

Charge for the period

223

223

At 30 September 2024

223

223

Carrying amount

At 30 September 2024

1,714

1,714

5

Debtors

Current

2024
£

Trade debtors

3,196

Prepayments

286

 

3,482

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

8

2,337

Taxation and social security

 

6,523

Accruals and deferred income

 

950

Other creditors

 

1,975

 

11,785

 

Sales Elevate 360 Ltd

Notes to the Unaudited Financial Statements for the Period from 22 September 2023 to 30 September 2024

7

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary shares of £1 each

1

1

   

1 ordinary £1 share was alloted on the Company's incorporation.

8

Loans and borrowings

Current loans and borrowings

2024
£

Other borrowings

2,337

9

Related party transactions

Other transactions with the director

The director has provided the company with an interest free loan amounting to £2,337 at the year end, which is repayable on demand.