Silverfin false false 30/09/2024 01/10/2023 30/09/2024 Colin Alexander Anderson 12/09/2022 Sharon Elizabeth Anderson 12/09/2022 27 March 2025 The principal activity of the Company was that of real estate consultancy services. SC744156 2024-09-30 SC744156 bus:Director1 2024-09-30 SC744156 bus:Director2 2024-09-30 SC744156 2023-09-30 SC744156 core:CurrentFinancialInstruments 2024-09-30 SC744156 core:CurrentFinancialInstruments 2023-09-30 SC744156 core:ShareCapital 2024-09-30 SC744156 core:ShareCapital 2023-09-30 SC744156 core:RetainedEarningsAccumulatedLosses 2024-09-30 SC744156 core:RetainedEarningsAccumulatedLosses 2023-09-30 SC744156 core:OfficeEquipment 2023-09-30 SC744156 core:ComputerEquipment 2023-09-30 SC744156 core:OfficeEquipment 2024-09-30 SC744156 core:ComputerEquipment 2024-09-30 SC744156 bus:OrdinaryShareClass1 2024-09-30 SC744156 2023-10-01 2024-09-30 SC744156 bus:FilletedAccounts 2023-10-01 2024-09-30 SC744156 bus:SmallEntities 2023-10-01 2024-09-30 SC744156 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 SC744156 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 SC744156 bus:Director1 2023-10-01 2024-09-30 SC744156 bus:Director2 2023-10-01 2024-09-30 SC744156 core:OfficeEquipment core:TopRangeValue 2023-10-01 2024-09-30 SC744156 core:ComputerEquipment core:TopRangeValue 2023-10-01 2024-09-30 SC744156 2022-09-12 2023-09-30 SC744156 core:OfficeEquipment 2023-10-01 2024-09-30 SC744156 core:ComputerEquipment 2023-10-01 2024-09-30 SC744156 core:CurrentFinancialInstruments 2023-10-01 2024-09-30 SC744156 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 SC744156 bus:OrdinaryShareClass1 2022-09-12 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC744156 (Scotland)

ELEVATE PROJECT SERVICES LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

ELEVATE PROJECT SERVICES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024

Contents

ELEVATE PROJECT SERVICES LTD

BALANCE SHEET

AS AT 30 SEPTEMBER 2024
ELEVATE PROJECT SERVICES LTD

BALANCE SHEET (continued)

AS AT 30 SEPTEMBER 2024
Note 30.09.2024 30.09.2023
£ £
Fixed assets
Tangible assets 3 1,979 3,061
1,979 3,061
Current assets
Debtors 4 6,115 7,615
Cash at bank and in hand 36,254 106,194
42,369 113,809
Creditors: amounts falling due within one year 5 ( 30,706) ( 43,722)
Net current assets 11,663 70,087
Total assets less current liabilities 13,642 73,148
Net assets 13,642 73,148
Capital and reserves
Called-up share capital 6 20 20
Profit and loss account 13,622 73,128
Total shareholders' funds 13,642 73,148

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Elevate Project Services Ltd (registered number: SC744156) were approved and authorised for issue by the Board of Directors on 27 March 2025. They were signed on its behalf by:

Colin Alexander Anderson
Director
ELEVATE PROJECT SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
ELEVATE PROJECT SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Elevate Project Services Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is C/O Johnston Carmichael, 227 West George Street, Glasgow, G2 2ND, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

Current period is 12 months from 1st October 2023 to 30th September 2024. Last years reporting period ran from 12 September 2022 to 30th September 2023 due to incorporation.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for real estate consultancy services provided in the normal course of business, and is shown net of VAT. Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 3 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

Year ended
30.09.2024
Period from
12.09.2022 to
30.09.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 October 2023 2,500 748 3,248
At 30 September 2024 2,500 748 3,248
Accumulated depreciation
At 01 October 2023 0 187 187
Charge for the financial year 833 249 1,082
At 30 September 2024 833 436 1,269
Net book value
At 30 September 2024 1,667 312 1,979
At 30 September 2023 2,500 561 3,061

4. Debtors

30.09.2024 30.09.2023
£ £
Other debtors 6,115 7,615

5. Creditors: amounts falling due within one year

30.09.2024 30.09.2023
£ £
Taxation and social security 28,080 41,222
Other creditors 2,626 2,500
30,706 43,722

There are no amounts included above in respect of which any security has been given by the small entity.

6. Called-up share capital

30.09.2024 30.09.2023
£ £
Allotted, called-up and fully-paid
20 Ordinary shares of £ 1.00 each 20 20

7. Related party transactions

Transactions with the entity's directors

30.09.2024 30.09.2023
£ £
Amounts due from key management personnel 7,615 7,615