9 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 08115033 2023-07-01 2024-06-30 08115033 2024-06-30 08115033 2023-06-30 08115033 2022-07-01 2023-06-30 08115033 2023-06-30 08115033 2022-06-30 08115033 core:PlantMachinery 2023-07-01 2024-06-30 08115033 core:MotorVehicles 2023-07-01 2024-06-30 08115033 bus:Director1 2023-07-01 2024-06-30 08115033 core:PlantMachinery 2023-06-30 08115033 core:MotorVehicles 2023-06-30 08115033 core:PlantMachinery 2024-06-30 08115033 core:MotorVehicles 2024-06-30 08115033 core:WithinOneYear 2024-06-30 08115033 core:WithinOneYear 2023-06-30 08115033 core:AfterOneYear 2024-06-30 08115033 core:AfterOneYear 2023-06-30 08115033 core:ShareCapital 2024-06-30 08115033 core:ShareCapital 2023-06-30 08115033 core:RetainedEarningsAccumulatedLosses 2024-06-30 08115033 core:RetainedEarningsAccumulatedLosses 2023-06-30 08115033 core:PlantMachinery 2023-06-30 08115033 core:MotorVehicles 2023-06-30 08115033 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2024-06-30 08115033 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2023-06-30 08115033 bus:Director1 2023-06-30 08115033 bus:Director1 2023-06-30 08115033 bus:Director1 2022-07-01 2023-06-30 08115033 bus:SmallEntities 2023-07-01 2024-06-30 08115033 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 08115033 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 08115033 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08115033 bus:FullAccounts 2023-07-01 2024-06-30 08115033 core:ComputerEquipment 2023-07-01 2024-06-30 08115033 core:ComputerEquipment 2023-06-30 08115033 core:ComputerEquipment 2024-06-30
COMPANY REGISTRATION NUMBER: 08115033
ELITE WINDOWS & CONSERVATORIES (GRIMSBY) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR END
30 June 2024
ELITE WINDOWS & CONSERVATORIES (GRIMSBY) LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2024
2024
2023
Note
£
£
£
£
Fixed Assets
Tangible assets
5
104,096
120,144
Current Assets
Stocks
15,000
55,000
Debtors
6
388,390
82,018
Cash at bank and in hand
249,062
541,321
-----------
-----------
652,452
678,339
Creditors: amounts falling due within one year
7
284,525
288,083
-----------
-----------
Net Current Assets
367,927
390,256
-----------
-----------
Total Assets Less Current Liabilities
472,023
510,400
Creditors: amounts falling due after more than one year
8
44,183
50,252
-----------
-----------
Net Assets
427,840
460,148
-----------
-----------
ELITE WINDOWS & CONSERVATORIES (GRIMSBY) LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2024
2024
2023
Note
£
£
£
£
Capital and Reserves
Called up share capital
2
2
Profit and loss account
427,838
460,146
-----------
-----------
Shareholders Funds
427,840
460,148
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 January 2025 , and are signed on behalf of the board by:
A Martin
Director
Company registration number: 08115033
ELITE WINDOWS & CONSERVATORIES (GRIMSBY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2024
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Elite House, Wilton Road, Humberston, Grimsby, DN36 4AW.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue Recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Motor vehicles
-
25% straight line
Equipment
-
33% straight line
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance Leases and Hire Purchase Contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 9 (2023: 7 ).
5. Tangible Assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 July 2023
25,503
135,947
1,815
163,265
Additions
3,500
15,995
19,495
Disposals
( 9,500)
( 9,500)
---------
-----------
--------
-----------
At 30 June 2024
29,003
142,442
1,815
173,260
---------
-----------
--------
-----------
Depreciation
At 1 July 2023
19,517
22,137
1,467
43,121
Charge for the year
1,248
30,116
171
31,535
Disposals
( 5,492)
( 5,492)
---------
-----------
--------
-----------
At 30 June 2024
20,765
46,761
1,638
69,164
---------
-----------
--------
-----------
Carrying amount
At 30 June 2024
8,238
95,681
177
104,096
---------
-----------
--------
-----------
At 30 June 2023
5,986
113,810
348
120,144
---------
-----------
--------
-----------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 30 June 2024
54,462
---------
At 30 June 2023
72,616
---------
6. Debtors
2024
2023
£
£
Other debtors
388,390
82,018
-----------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
91,006
111,697
Social security and other taxes
151,431
131,192
Other creditors
42,088
45,194
-----------
-----------
284,525
288,083
-----------
-----------
Included in creditors is £6,069 which is secured against fixed assets (2023: £6,069).
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
44,183
50,252
---------
---------
Included in creditors is £44,183 (2023: £50,252) which is secured against fixed assets.
9. Directors' Advances, Credits and Guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
A Martin
70,585
( 70,585)
---------
-----
---------
-----
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
A Martin
70,585
70,585
-----
---------
-----
---------
Balances were repayable on demand and subject to interest at the official rate.