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Elite Financial Advice Limited

Registered Number
SC586790
(Scotland)

Unaudited Financial Statements for the Year ended
31 January 2024

Elite Financial Advice Limited
Company Information
for the year from 1 February 2023 to 31 January 2024

Director

Bechelli, Natasha

Registered Address

84 Dundonald Road
Kilmarnock
KA1 1TH

Registered Number

SC586790 (Scotland)
Elite Financial Advice Limited
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,2022,692
3,2022,692
Current assets
Cash at bank and on hand206,643217,589
206,643217,589
Creditors amounts falling due within one year4(46,906)(57,327)
Net current assets (liabilities)159,737160,262
Total assets less current liabilities162,939162,954
Creditors amounts falling due after one year5(7,919)(13,819)
Net assets155,020149,135
Capital and reserves
Called up share capital4,0004,000
Profit and loss account151,020145,135
Shareholders' funds155,020149,135
The financial statements were approved and authorised for issue by the Director on 28 October 2024, and are signed on its behalf by:
Bechelli, Natasha
Director
Registered Company No. SC586790
Elite Financial Advice Limited
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. 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.
Basis of preparation
These financial statements have been prepared in accordance with Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including the provisions of Section 1A Small Entities and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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:

Reducing balance (%)Straight line (years)
Fixtures and fittings25-
Office Equipment-3
2.Average number of employees

20242023
Average number of employees during the year33
3.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 February 238035,2666,069
Additions-2,7272,727
At 31 January 248037,9938,796
Depreciation and impairment
At 01 February 234492,9283,377
Charge for year882,1292,217
At 31 January 245375,0575,594
Net book value
At 31 January 242662,9363,202
At 31 January 233542,3382,692
4.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts6,1446,179
Taxation and social security15,34517,038
Other creditors25,41734,110
Total46,90657,327
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts7,91913,819
Total7,91913,819