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Registration number: 13330261

Elite Heating North East Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 April 2024

 

Elite Heating North East Ltd

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 6

 

Elite Heating North East Ltd

Company Information

Director

A J Hood

Registered office

76 Front Street
Prudhoe
Northumberland
NE42 5PU

Accountants

Heritage Accountancy Limited
Chartered Certified Accountants76 Front Street
Prudhoe
Northumberland
NE42 5PU

 

Elite Heating North East Ltd

(Registration number: 13330261)
Abridged Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,193

9,263

Current assets

 

Debtors

5

679

366

Cash at bank and in hand

 

22,695

37,704

 

23,374

38,070

Prepayments and accrued income

 

(153)

875

Creditors: Amounts falling due within one year

(21,265)

(32,383)

Net current assets

 

1,956

6,562

Net assets

 

7,149

15,825

Capital and reserves

 

Called up share capital

6

3

3

Retained earnings

7,146

15,822

Shareholders' funds

 

7,149

15,825

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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 January 2025
 

.........................................
A J Hood
Director

 

Elite Heating North East Ltd

Notes to the Unaudited Abridged 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:
76 Front Street
Prudhoe
Northumberland
NE42 5PU
England

These financial statements were authorised for issue by the director on 30 January 2025.

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 abridged 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 abridged 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Elite Heating North East Ltd

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

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:

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Elite Heating North East Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

1,977

16,178

18,155

Additions

383

-

383

At 30 April 2024

2,360

16,178

18,538

Depreciation

At 1 May 2023

802

8,090

8,892

Charge for the year

408

4,045

4,453

At 30 April 2024

1,210

12,135

13,345

Carrying amount

At 30 April 2024

1,150

4,043

5,193

At 30 April 2023

1,175

8,088

9,263

5

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Share Capital of £1 each

2

2

2

2

Ordinary A Share Capital of £1 each

1

1

1

1

3

3

3

3

7

Related party transactions

 

Elite Heating North East Ltd

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

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,570

12,121