1 May 2023 false Taxfiler 2024.6 SC398402business:PrivateLimitedCompanyLtd2023-05-012024-04-30 SC3984022023-04-30 SC3984022023-05-012024-04-30 SC398402business:AuditExemptWithAccountantsReport2023-05-012024-04-30 SC398402business:FilletedAccounts2023-05-012024-04-30 SC3984022024-04-30 SC398402business:Director12023-05-012024-04-30 SC398402business:RegisteredOffice2023-05-012024-04-30 SC3984022023-04-30 SC398402core:WithinOneYear2024-04-30 SC398402core:WithinOneYear2023-04-30 SC398402core:AfterOneYear2024-04-30 SC398402core:AfterOneYear2023-04-30 SC398402core:ShareCapitalcore:PreviouslyStatedAmount2024-04-30 SC398402core:ShareCapitalcore:PreviouslyStatedAmount2023-04-30 SC398402core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-04-30 SC398402core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-04-30 SC398402core:PreviouslyStatedAmount2024-04-30 SC398402core:PreviouslyStatedAmount2023-04-30 SC398402business:SmallEntities2023-05-012024-04-30 SC398402countries:Scotland2023-05-012024-04-30 SC398402core:PlantMachinery2023-05-012024-04-30 SC398402core:MotorVehicles2023-05-012024-04-30 SC398402core:PlantMachinery2023-04-30 SC398402core:MotorVehicles2023-04-30 SC398402core:PlantMachinery2024-04-30 SC398402core:MotorVehicles2024-04-30 SC3984022022-05-012023-04-30 iso4217:GBP xbrli:pure
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
Page
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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
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ELITE CUSTOM EXHAUSTS LTD Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
47,659 
50,346 
Current assets
Inventories
3,625 
3,550 
Debtors
- 
1,433 
Cash at bank and in hand
47,181 
43,148 
50,806 
48,131 
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)
Net assets
12,886 
14,702 
Capital and reserves
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
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ELITE CUSTOM EXHAUSTS LTD Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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 
Additions
- 
11,500 
11,500 
Disposals
- 
(10,711)
(10,711)
At 30 April 2024
52,921 
41,982 
94,903 
Depreciation
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 
Net book value
At 30 April 2024
25,171 
22,488 
47,659 
At 30 April 2023
29,614 
20,732 
50,346 
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ELITE CUSTOM EXHAUSTS LTD Notes to the Accounts for the year ended 30 April 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due after more than one year
Trade debtors
- 
1,433 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
4,000 
4,000 
VAT
3,828 
3,079 
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 
Accruals
1,479 
1,836 
75,409 
64,767 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
5,333 
9,334 
Obligations under finance leases and hire purchase contracts
4,837 
9,674 
10,170 
19,008 
8
Transactions with related parties
During the year , dividends of £5,000 ( 2023 £5,000 ) were paid to the director.
9
Controlling party
The controlling party is Mrs C McCutcheon.
10
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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