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REGISTERED NUMBER: 12963688 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

AUTO ELITE 60 LTD

AUTO ELITE 60 LTD (REGISTERED NUMBER: 12963688)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AUTO ELITE 60 LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTOR: Mr G M Madero





REGISTERED OFFICE: 5 Giffard Court
Millbrook Close
Northampton
Northamptonshire
NN5 5JF





REGISTERED NUMBER: 12963688 (England and Wales)





ACCOUNTANTS: Cube Partners Limited
Chartered Accountants
5 Giffard Court
Millbrook Close
Northampton
Northamptonshire
NN5 5JF

AUTO ELITE 60 LTD (REGISTERED NUMBER: 12963688)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 1,007

CURRENT ASSETS
Debtors 5 3,338 7,425
Cash at bank 2,077 2,023
5,415 9,448
CREDITORS
Amounts falling due within one year 6 4,678 4,924
NET CURRENT ASSETS 737 4,524
TOTAL ASSETS LESS CURRENT
LIABILITIES

737

5,531

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 736 5,530
737 5,531

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 February 2025 and were signed by:





Mr G M Madero - Director


AUTO ELITE 60 LTD (REGISTERED NUMBER: 12963688)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Auto Elite 60 Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 November 2023
and 31 October 2024 4,037
DEPRECIATION
At 1 November 2023 3,030
Charge for year 1,007
At 31 October 2024 4,037
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 1,007

AUTO ELITE 60 LTD (REGISTERED NUMBER: 12963688)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 807 -
Other debtors 2,531 7,425
3,338 7,425

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 102
Taxation and social security 3,538 3,742
Other creditors 1,140 1,080
4,678 4,924

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, a director owed the company £1,787 (2023: £6,683). There are no formal terms of repayment and interest has been charged at the HMRC official rate.