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Registration number: 10062690

Elite Vehicle Fleet Managment Limited

Filleted Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Elite Vehicle Fleet Managment Limited
(Registration number: 10062690)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Elite Vehicle Fleet Managment Limited
(Registration number: 10062690)

Company Information

Director

Mr J P Wright

Registered office

22 Pitt Park
Cranbrook
Exeter
Devon
EX5 7BQ

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Elite Vehicle Fleet Managment Limited
(Registration number: 10062690)

Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1

1

Current assets

 

Debtors

5

38,420

39,526

Cash at bank and in hand

 

-

5,992

 

38,420

45,518

Creditors: Amounts falling due within one year

6

(2,450)

(9,178)

Net current assets

 

35,970

36,340

Total assets less current liabilities

 

35,971

36,341

Creditors: Amounts falling due after more than one year

6

(17,255)

(13,750)

Net assets

 

18,716

22,591

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

18,616

22,491

Total equity

 

18,716

22,591

For the financial year ending 30 April 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 year in question in accordance with section 476; and

The director acknowledges his 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 10 January 2025
 

.........................................
Mr J P Wright
Director

 

Elite Vehicle Fleet Managment Limited
(Registration number: 10062690)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
22 Pitt Park
Cranbrook
Exeter
Devon
EX5 7BQ
England

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.

Going concern

The company ceased to trade on 30 April 2021. Therefore the financial statements have been prepared on a break-up basis.

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

Office equipment

Over 3 years

 

Elite Vehicle Fleet Managment Limited
(Registration number: 10062690)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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 merchandise sold or 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 year, was 1 (2023 - 1).

 

Elite Vehicle Fleet Managment Limited
(Registration number: 10062690)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

8,741

8,741

At 30 April 2024

8,741

8,741

Depreciation

At 1 May 2023

8,740

8,740

At 30 April 2024

8,740

8,740

Carrying amount

At 30 April 2024

1

1

At 30 April 2023

1

1

5

Debtors

2024
£

2023
£

Other debtors

38,420

39,526

Total current trade and other debtors

38,420

39,526

 

Elite Vehicle Fleet Managment Limited
(Registration number: 10062690)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Creditors

2024
£

2023
£

Due within one year

Loans and borrowings

1,250

1,250

Accrued expenses

1,200

1,200

Corporation tax liability

-

6,728

2,450

9,178

Due after one year

Loans and borrowings

17,255

13,750

7

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

1,250

1,250

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

17,255

13,750

Included in the loans and borrowings are the following amounts due after more than five years:

2024
£

2023
£

After more than five years by instalments

5,255

1,750

8

Related party transactions

Transactions with the director

2024

At 1 May 2023
£

Repayments by director
£

At 30 April 2024
£

Mr J P Wright

Interest free loan repayable on demand

39,526

(1,106)

38,420

       
     

 

 

Elite Vehicle Fleet Managment Limited
(Registration number: 10062690)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2023

At 1 May 2022
£

At 30 April 2023
£

Mr J P Wright

Interest free loan repayable on demand

39,526

39,526