Acorah Software Products - Accounts Production 16.1.300 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 10911211 Mr David Piper Mrs Paula Piper iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10911211 2023-08-31 10911211 2024-08-31 10911211 2023-09-01 2024-08-31 10911211 frs-core:CurrentFinancialInstruments 2024-08-31 10911211 frs-core:Non-currentFinancialInstruments 2024-08-31 10911211 frs-core:MotorVehicles 2024-08-31 10911211 frs-core:MotorVehicles 2023-09-01 2024-08-31 10911211 frs-core:MotorVehicles 2023-08-31 10911211 frs-core:PlantMachinery 2024-08-31 10911211 frs-core:PlantMachinery 2023-09-01 2024-08-31 10911211 frs-core:PlantMachinery 2023-08-31 10911211 frs-core:ShareCapital 2024-08-31 10911211 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 10911211 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10911211 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 10911211 frs-bus:SmallEntities 2023-09-01 2024-08-31 10911211 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 10911211 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 10911211 frs-bus:Director1 2023-09-01 2024-08-31 10911211 frs-bus:Director2 2023-09-01 2024-08-31 10911211 frs-countries:EnglandWales 2023-09-01 2024-08-31 10911211 2022-08-31 10911211 2023-08-31 10911211 2022-09-01 2023-08-31 10911211 frs-core:CurrentFinancialInstruments 2023-08-31 10911211 frs-core:Non-currentFinancialInstruments 2023-08-31 10911211 frs-core:ShareCapital 2023-08-31 10911211 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 10911211
Elite Repair Solutions Ltd.
Unaudited Financial Statements
For The Year Ended 31 August 2024
Abbotstones
Lemanis House
Stone Street
Lympne
Kent
CT21 4JN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10911211
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,954 14,942
11,954 14,942
CURRENT ASSETS
Debtors 5 10,703 18,551
Cash at bank and in hand 7,731 7,843
18,434 26,394
Creditors: Amounts Falling Due Within One Year 6 (12,268 ) (9,252 )
NET CURRENT ASSETS (LIABILITIES) 6,166 17,142
TOTAL ASSETS LESS CURRENT LIABILITIES 18,120 32,084
Creditors: Amounts Falling Due After More Than One Year 7 (16,957 ) (21,709 )
NET ASSETS 1,163 10,375
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 1,063 10,275
SHAREHOLDERS' FUNDS 1,163 10,375
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Page 2
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David Piper
Director
03/02/2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Elite Repair Solutions Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 10911211 . The registered office is 13 Temple Close, Kingsnorth, Ashford, Kent, TN23 3PW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Motor Vehicles 20% reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
...CONTINUED
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2.4. Taxation - continued
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 September 2023 2,251 17,490 19,741
As at 31 August 2024 2,251 17,490 19,741
Depreciation
As at 1 September 2023 1,301 3,498 4,799
Provided during the period 190 2,798 2,988
As at 31 August 2024 1,491 6,296 7,787
Net Book Value
As at 31 August 2024 760 11,194 11,954
As at 1 September 2023 950 13,992 14,942
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,942 12,307
Other taxes and social security 5,761 6,244
10,703 18,551
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 856 3,482
Corporation tax 9,720 3,788
VAT 710 816
Accruals and deferred income 750 750
Directors' loan accounts 232 416
12,268 9,252
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 3,321 4,800
Other loans 13,636 16,909
16,957 21,709
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 47,000 39,000
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