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Registered number: 13137471
Elov Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
DIGI Accountancy Ltd
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—5
Page 1
Balance Sheet
Registered number: 13137471
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 24,908 22,151
24,908 22,151
CURRENT ASSETS
Debtors 5 1,862 946
Cash at bank and in hand 258 565
2,120 1,511
Creditors: Amounts Falling Due Within One Year 6 (7,515 ) (9,002 )
NET CURRENT ASSETS (LIABILITIES) (5,395 ) (7,491 )
TOTAL ASSETS LESS CURRENT LIABILITIES 19,513 14,660
NET ASSETS 19,513 14,660
CAPITAL AND RESERVES
Called up share capital 7 1,200 1,200
Share premium account 2,550 2,550
Profit and Loss Account 15,763 10,910
SHAREHOLDERS' FUNDS 19,513 14,660
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
R Hope
Director
31/10/2024
The notes on pages 4 to 5 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Share Premium Profit and Loss Account Total
£ £ £ £
As at 1 February 2022 1,200 2,550 1,816 5,566
Profit for the year and total comprehensive income - - 9,094 9,094
As at 31 January 2023 and 1 February 2023 1,200 2,550 10,910 14,660
Profit for the year and total comprehensive income - - 4,853 4,853
As at 31 January 2024 1,200 2,550 15,763 19,513
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Elov Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13137471 . The registered office is 6th Floor, Parsonage Chambers, 3 Parsonage, Manchester, M3 2HW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Significant judgements and estimations
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
There have been no judgements, estimates or assumptions made in the preparation of these financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20% straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Motor Vehicles
£
Cost
As at 1 February 2023 27,588
Additions 8,500
As at 31 January 2024 36,088
Depreciation
As at 1 February 2023 5,437
Provided during the period 5,743
As at 31 January 2024 11,180
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 January 2024 24,908
As at 1 February 2023 22,151
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,846 946
Other taxes and social security 16 -
1,862 946
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 3,071 -
Other taxes and social security - 77
Accruals and deferred income - 720
Director's loan account 4,444 8,205
7,515 9,002
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,200 1,200
Page 5