Company Registration No. SC398402 (Scotland)
ELITE CUSTOM EXHAUSTS LTD
Unaudited accounts
for the year ended 30 April 2024
ELITE CUSTOM EXHAUSTS LTD
Unaudited accounts
Contents
ELITE CUSTOM EXHAUSTS LTD
Company Information
for the year ended 30 April 2024
Director
CAROLANN McCUTCHEON
Company Number
SC398402 (Scotland)
Registered Office
2 VICTORIA PLACE
RUTHERGLEN
GLASGOW
G73 2JP
Accountants
brand jamieson co
2 Victoria Place
Rutherglen
Glasgow
G73 2JP
ELITE CUSTOM EXHAUSTS LTD
Statement of financial position
as at 30 April 2024
Tangible assets
47,659
50,346
Cash at bank and in hand
47,181
43,148
Creditors: amounts falling due within one year
(75,409)
(64,767)
Net current liabilities
(24,603)
(16,636)
Total assets less current liabilities
23,056
33,710
Creditors: amounts falling due after more than one year
(10,170)
(19,008)
Called up share capital
2
2
Profit and loss account
12,884
14,700
Shareholders' funds
12,886
14,702
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 January 2025 and were signed on its behalf by
CAROLANN McCUTCHEON
Director
Company Registration No. SC398402
ELITE CUSTOM EXHAUSTS LTD
Notes to the Accounts
for the year ended 30 April 2024
ELITE CUSTOM EXHAUSTS LTD is a private company, limited by shares, registered in Scotland, registration number SC398402. The registered office is 2 VICTORIA PLACE, RUTHERGLEN, GLASGOW, G73 2JP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance.
Motor vehicles
25% reducing balance.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 May 2023
52,921
41,193
94,114
Disposals
-
(10,711)
(10,711)
At 30 April 2024
52,921
41,982
94,903
At 1 May 2023
23,307
20,461
43,768
Charge for the year
4,443
5,224
9,667
On disposals
-
(6,191)
(6,191)
At 30 April 2024
27,750
19,494
47,244
At 30 April 2024
25,171
22,488
47,659
At 30 April 2023
29,614
20,732
50,346
ELITE CUSTOM EXHAUSTS LTD
Notes to the Accounts
for the year ended 30 April 2024
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
4,000
4,000
Obligations under finance leases and hire purchase contracts
4,838
4,838
Trade creditors
2,909
5,047
Taxes and social security
2,550
2,590
Loans from directors
55,805
43,377
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
4,837
9,674
8
Transactions with related parties
During the year , dividends of £5,000 ( 2023 £5,000 ) were paid to the director.
The controlling party is Mrs C McCutcheon.
10
Average number of employees
During the year the average number of employees was 3 (2023: 3).