IRIS Accounts Production v24.3.0.553 10613789 director 1.3.23 29.2.24 29.2.24 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh106137892023-02-28106137892024-02-29106137892023-03-012024-02-29106137892022-02-28106137892022-03-012023-02-28106137892023-02-2810613789ns15:EnglandWales2023-03-012024-02-2910613789ns14:PoundSterling2023-03-012024-02-2910613789ns10:Director12023-03-012024-02-2910613789ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2910613789ns10:SmallEntities2023-03-012024-02-2910613789ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2910613789ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2910613789ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2910613789ns10:FullAccounts2023-03-012024-02-2910613789ns10:RegisteredOffice2023-03-012024-02-2910613789ns5:CurrentFinancialInstruments2024-02-2910613789ns5:CurrentFinancialInstruments2023-02-2810613789ns5:ShareCapital2024-02-2910613789ns5:ShareCapital2023-02-2810613789ns5:RetainedEarningsAccumulatedLosses2024-02-2910613789ns5:RetainedEarningsAccumulatedLosses2023-02-2810613789ns5:PlantMachinery2023-03-012024-02-2910613789ns5:LandBuildings2023-02-2810613789ns5:PlantMachinery2023-02-2810613789ns5:LandBuildings2023-03-012024-02-2910613789ns5:LandBuildings2024-02-2910613789ns5:PlantMachinery2024-02-2910613789ns5:LandBuildings2023-02-2810613789ns5:PlantMachinery2023-02-28
REGISTERED NUMBER: 10613789 (England and Wales)















Elite Fireworks (Kent) Limited

Unaudited Financial Statements for the Year Ended 29 February 2024






Elite Fireworks (Kent) Limited (Registered number: 10613789)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Elite Fireworks (Kent) Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: S J Moss





REGISTERED OFFICE: 5 London Road
Rainham
Kent
ME8 7RG





BUSINESS ADDRESS: The Old School
Tunstall
Sittingbourne
Kent
ME9 8DX





REGISTERED NUMBER: 10613789 (England and Wales)





ACCOUNTANTS: Aggarwal & Co Limited
Chartered Accountants
5 London Road
Rainham
Gillingham
Kent
ME8 7RG

Elite Fireworks (Kent) Limited (Registered number: 10613789)

Statement of Financial Position
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,072 2,642

CURRENT ASSETS
Inventories 32,450 35,456
Cash at bank 32,874 27,746
65,324 63,202
CREDITORS
Amounts falling due within one year 5 18,104 17,904
NET CURRENT ASSETS 47,220 45,298
TOTAL ASSETS LESS CURRENT LIABILITIES 49,292 47,940

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 48,292 46,940
49,292 47,940

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 November 2024 and were signed by:





S J Moss - Director


Elite Fireworks (Kent) Limited (Registered number: 10613789)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Elite Fireworks (Kent) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Changes in accounting policies
It is the first year that the company has presented its financial statements under Financial Reporting Standard 102. The last financial statements prepared under previous FRS 105 were for the year ended 28 February 2023 and the date of transition to FRS 102 was therefore 1 March 2023.

As a consequence of adopting FRS 102, none of the accounting policies have changed to comply with those standards.

The accounting policies applied under the company's previous accounting framework are not materially different to FRS 102 and have not impacted on the income statement or the statement of financial position/balance sheet.

Income recognition
Income represents the fair value of consideration received or receivable derived from the provision of goods to customers during the year and is recognised when the company becomes entitled to it, usually on the rendering of an invoice.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell.

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. Basic financial instruments are recognised at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Elite Fireworks (Kent) Limited (Registered number: 10613789)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 600 2,279 2,879
DEPRECIATION
At 1 March 2023 - 237 237
Charge for year - 570 570
At 29 February 2024 - 807 807
NET BOOK VALUE
At 29 February 2024 600 1,472 2,072
At 28 February 2023 600 2,042 2,642

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 451 2,507
Other creditors 17,653 15,397
18,104 17,904