2023-09-012024-08-312024-08-31false08101370ELITE PROPERTY SERVICES ASSOCIATES 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ELITE PROPERTY SERVICES ASSOCIATES LIMITED

Registered Number
08101370
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

ELITE PROPERTY SERVICES ASSOCIATES LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

MATHARU, Sundeep
MEGYERY, Anthony John

Registered Address

Diamond House 661a
Roundhay Road
Leeds
LS8 4BA

Registered Number

08101370 (England and Wales)
ELITE PROPERTY SERVICES ASSOCIATES LIMITED
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,7332,311
1,7332,311
Current assets
Stocks41,2001,200
Debtors24,65819,561
Cash at bank and on hand42,65030,161
68,50850,922
Creditors amounts falling due within one year5(53,141)(50,630)
Net current assets (liabilities)15,367292
Total assets less current liabilities17,1002,603
Creditors amounts falling due after one year6(4,110)(9,137)
Provisions for liabilities7(329)(439)
Net assets12,661(6,973)
Capital and reserves
Called up share capital102102
Profit and loss account12,559(7,075)
Shareholders' funds12,661(6,973)
The financial statements were approved and authorised for issue by the Board of Directors on 16 October 2024, and are signed on its behalf by:
MATHARU, Sundeep
Director
MEGYERY, Anthony John
Director

Registered Company No. 08101370
ELITE PROPERTY SERVICES ASSOCIATES LIMITED
Notes to the Financial Statements
for the year ended 31 August 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.
Dividend income
Dividend income is recognised when the right to receive payment is established.
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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 (%)
Plant and machinery25
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year44
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 September 2326,68326,683
At 31 August 2426,68326,683
Depreciation and impairment
At 01 September 2324,37224,372
Charge for year578578
At 31 August 2424,95024,950
Net book value
At 31 August 241,7331,733
At 31 August 232,3112,311
4.Stocks

2024

2023

££
Raw materials and consumables1,2001,200
Total1,2001,200
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,627632
Bank borrowings and overdrafts5,0005,000
Taxation and social security11,1455,660
Other creditors33,66937,539
Accrued liabilities and deferred income1,7001,799
Total53,14150,630
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.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts4,1109,137
Total4,1109,137
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)329439
Total329439