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REGISTERED NUMBER: 05301575 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Elite Kitchens & Bathrooms (Cheadle) Ltd

Elite Kitchens & Bathrooms (Cheadle) Ltd (Registered number: 05301575)






Contents of the Financial Statements
for the year ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Elite Kitchens & Bathrooms (Cheadle) Ltd

Company Information
for the year ended 31 December 2024







DIRECTORS: Mrs R L J Savage
Mr A M Savage





REGISTERED OFFICE: Midland House
22 Chapel Street
Cheadle
Stoke On Trent
Staffordshire
ST10 1DY





REGISTERED NUMBER: 05301575 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Ltd
Chartered Accountants
Cherry Tree Court
Cross Street
Leek
Staffordshire
ST13 6BL

Elite Kitchens & Bathrooms (Cheadle) Ltd (Registered number: 05301575)

Balance Sheet
31 December 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 4 833 3,333
Tangible assets 5 149,645 228,331
Investments 6 24,999 24,999
175,477 256,663

CURRENT ASSETS
Stocks 182,333 166,146
Debtors 7 67,609 39,963
Cash at bank 140 99,076
250,082 305,185
CREDITORS
Amounts falling due within one year 8 (314,447 ) (338,898 )
NET CURRENT LIABILITIES (64,365 ) (33,713 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

111,112

222,950

CREDITORS
Amounts falling due after more than one year 9 (34,132 ) (73,255 )

PROVISIONS FOR LIABILITIES (51,700 ) (38,360 )
NET ASSETS 25,280 111,335

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 25,278 111,333
25,280 111,335

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

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

The directors acknowledge their 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.

Elite Kitchens & Bathrooms (Cheadle) Ltd (Registered number: 05301575)

Balance Sheet - continued
31 December 2024


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 Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:




Mr A M Savage - Director



Mrs R L J Savage - Director


Elite Kitchens & Bathrooms (Cheadle) Ltd (Registered number: 05301575)

Notes to the Financial Statements
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Elite Kitchens & Bathrooms (Cheadle) 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 10% on cost
Motor vehicles - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 16 ) .

Elite Kitchens & Bathrooms (Cheadle) Ltd (Registered number: 05301575)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 January 2024
and 31 December 2024 50,000
AMORTISATION
At 1 January 2024 46,667
Charge for year 2,500
At 31 December 2024 49,167
NET BOOK VALUE
At 31 December 2024 833
At 31 December 2023 3,333

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Short and Motor
property leasehold fittings vehicles Totals
£ £ £ £ £
COST
At 1 January 2024 12,014 27,114 31,711 264,917 335,756
Additions - - 899 30,324 31,223
Disposals - - - (117,063 ) (117,063 )
At 31 December 2024 12,014 27,114 32,610 178,178 249,916
DEPRECIATION
At 1 January 2024 10,280 1,356 10,317 85,472 107,425
Charge for year 434 2,711 4,541 29,880 37,566
Eliminated on disposal - - - (44,720 ) (44,720 )
At 31 December 2024 10,714 4,067 14,858 70,632 100,271
NET BOOK VALUE
At 31 December 2024 1,300 23,047 17,752 107,546 149,645
At 31 December 2023 1,734 25,758 21,394 179,445 228,331

6. FIXED ASSET INVESTMENTS
Other
investments
£
COST
At 1 January 2024
and 31 December 2024 24,999
NET BOOK VALUE
At 31 December 2024 24,999
At 31 December 2023 24,999

Elite Kitchens & Bathrooms (Cheadle) Ltd (Registered number: 05301575)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 58,537 30,711
Other debtors 9,072 9,252
67,609 39,963

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 12,471 10,149
Hire purchase contracts 23,548 37,311
Trade creditors 71,443 119,418
Taxation and social security 40,346 47,563
Other creditors 166,639 124,457
314,447 338,898

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans 4,410 14,814
Hire purchase contracts 29,722 58,441
34,132 73,255