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Company Registration No. 10938134 (England and Wales)
Billion Elite Holdings Limited Financial Statements for the year ended 31 August 2024
Billion Elite Holdings Limited Financial Statements Contents
Page
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Billion Elite Holdings Limited Company Information for the year ended 31 August 2024
Directors
C Y Wan S H Chan
Company Number
10938134 (England and Wales)
Registered Office
Unit 1 Monks Pond Street Northampton NN1 2LF United Kingdom
Accountants
Adelita Shah Chartered Accountants Upton Farm Cottage Upton Northampton NN5 4UY
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Billion Elite Holdings Limited Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
316,858 
316,858 
Current assets
Debtors
4,078 
5,809 
Cash at bank and in hand
586 
498 
4,664 
6,307 
Creditors: amounts falling due within one year
(321,644)
(328,385)
Net current liabilities
(316,980)
(322,078)
Net liabilities
(122)
(5,220)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(222)
(5,320)
Shareholders' funds
(122)
(5,220)
For the year ending 31 August 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 directors acknowledge their 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 of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by
C Y Wan Director Company Registration No. 10938134
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Billion Elite Holdings Limited Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
Billion Elite Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 10938134. The registered office is Unit 1, Monks Pond Street, Northampton, NN1 2LF, United Kingdom.
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.
Going concern - Covid 19
The total current assets exceed total current liabilities at year end. It is on this basis that the accounts have been prepared on a going concern basis. The director remains confident that the turnover will increase in the coming months.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Billion Elite Holdings Limited Notes to the Accounts for the year ended 31 August 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 September 2023
23,635 
At 31 August 2024
23,635 
Amortisation
At 1 September 2023
23,635 
At 31 August 2024
23,635 
Net book value
At 31 August 2024
- 
5
Investment property
2024 
£ 
Fair value at 1 September 2023
316,858 
At 31 August 2024
316,858 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
2,534 
4,002 
Accrued income and prepayments
1,544 
1,807 
4,078 
5,809 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
2,642 
1,819 
Taxes and social security
1,198 
787 
Loans from directors
316,304 
321,703 
Accruals
1,500 
4,076 
321,644 
328,385 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
C Y Wan
Directors Loan Account 31/08/2021
321,703 
- 
5,399 
316,304 
321,703 
- 
5,399 
316,304 
Balance of £316,304 is still owing to the Director at the year end. It will be interest free.
9
Transactions with related parties
During the year, the company owes the Director CY Wan, £316,304.
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Billion Elite Holdings Limited Notes to the Accounts for the year ended 31 August 2024
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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