DG Elite Motors Ltd
Registered number: 14137886
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,483 630
Current assets
Debtors 4 4,325 42,522
Cash at bank and in hand 1,089 10,458
5,414 52,980
Creditors: amounts falling due within one year 5 (3,330) (3,546)
Net current assets 2,084 49,434
Total assets less current liabilities 6,567 50,064
Creditors: amounts falling due after more than one year 6 (19,716) (38,999)
Net (liabilities)/assets (13,149) 11,065
Capital and reserves
Called up share capital 100 100
Profit and loss account (13,249) 10,965
Shareholders' funds (13,149) 11,065
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Rafael Diaz Quintero
Director
Approved by the board on 27 February 2025
DG Elite Motors Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 788
Additions 4,974
At 31 May 2024 5,762
Depreciation
At 1 June 2023 158
Charge for the year 1,121
At 31 May 2024 1,279
Net book value
At 31 May 2024 4,483
At 31 May 2023 630
4 Debtors 2024 2023
£ £
Trade debtors - 42,522
Other debtors 4,325 -
4,325 42,522
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 2,580 2,580
Other creditors 750 966
3,330 3,546
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 19,716 38,999
7 Other information
DG Elite Motors Ltd is a private company limited by shares and incorporated in England. Its registered office is:
9-14 Hillbrow Court
Hillbrow Road
Esher
KT10 9
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