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REGISTERED NUMBER: 07925331 (England and Wales)















ELITE DIGITAL SYSTEMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






ELITE DIGITAL SYSTEMS LIMITED (REGISTERED NUMBER: 07925331)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELITE DIGITAL SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: P R Duncanson





SECRETARY: Miss D J M Pearson





REGISTERED OFFICE: The View
Tan Yr Allt Road
Llanddulas
Abergele
Conway
LL22 8LT





REGISTERED NUMBER: 07925331 (England and Wales)





ACCOUNTANTS: Murray Smith LLP
Chartered Accountants
Darland House
44 Winnington Hill
Northwich
Cheshire
CW8 1AU

ELITE DIGITAL SYSTEMS LIMITED (REGISTERED NUMBER: 07925331)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 56,035 70,938
Tangible assets 5 8,302 14,915
64,337 85,853

CURRENT ASSETS
Stocks 95,768 94,573
Debtors 6 139,635 178,736
Cash at bank 267,060 246,883
502,463 520,192
CREDITORS
Amounts falling due within one year 7 261,850 291,761
NET CURRENT ASSETS 240,613 228,431
TOTAL ASSETS LESS CURRENT
LIABILITIES

304,950

314,284

CREDITORS
Amounts falling due after more than one
year

8

69,190

119,740
NET ASSETS 235,760 194,544

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 235,758 194,542
SHAREHOLDERS' FUNDS 235,760 194,544

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

ELITE DIGITAL SYSTEMS LIMITED (REGISTERED NUMBER: 07925331)

BALANCE SHEET - continued
31 JULY 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 April 2025 and were signed by:





P R Duncanson - Director


ELITE DIGITAL SYSTEMS LIMITED (REGISTERED NUMBER: 07925331)

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

1. STATUTORY INFORMATION

Elite Digital Systems Limited 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of eight years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 25% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% 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.

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.

ELITE DIGITAL SYSTEMS LIMITED (REGISTERED NUMBER: 07925331)

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

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of the business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on the present value basis.

Government grants
Grants are included in the profit and loss account on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown on the balance sheet. Where income is received in advance of meeting any performance-related conditions there is not unconditional entitlement to the income and its recognition is deferred and included in creditors as deferred income until the performance-related conditions are met. Where entitlement occurs before income is received, the income is accrued.

Provisions
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are measured at the present value of management's best estimate of the expenditure required to settle the present obligation at the end of the reporting period, and are discounted to present value where the effect is material.

Employee benefits
(a) Wages and salaries and annual leave
Liabilities for wages and salaries and annual leave are recognised and are measured as the amount unpaid at the reporting date at current pay rates in respect of employees' services up to that date. They are expected to be settled within one year.

(b) Pensions
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and the post-retirement benefits is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

ELITE DIGITAL SYSTEMS LIMITED (REGISTERED NUMBER: 07925331)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 119,227
AMORTISATION
At 1 August 2023 48,289
Charge for year 14,903
At 31 July 2024 63,192
NET BOOK VALUE
At 31 July 2024 56,035
At 31 July 2023 70,938

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 August 2023 2,900 - 27,579
Additions - 1,470 -
At 31 July 2024 2,900 1,470 27,579
DEPRECIATION
At 1 August 2023 2,175 - 22,338
Charge for year 725 276 2,241
At 31 July 2024 2,900 276 24,579
NET BOOK VALUE
At 31 July 2024 - 1,194 3,000
At 31 July 2023 725 - 5,241

ELITE DIGITAL SYSTEMS LIMITED (REGISTERED NUMBER: 07925331)

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

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2023 21,910 2,555 54,944
Additions - 1,359 2,829
At 31 July 2024 21,910 3,914 57,773
DEPRECIATION
At 1 August 2023 14,040 1,476 40,029
Charge for year 5,478 722 9,442
At 31 July 2024 19,518 2,198 49,471
NET BOOK VALUE
At 31 July 2024 2,392 1,716 8,302
At 31 July 2023 7,870 1,079 14,915

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 117,411 169,697
Directors' current accounts 20,411 7,566
Prepayments 1,813 1,473
139,635 178,736

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,302 5,173
Other loans 45,119 41,052
Trade creditors 96,188 81,633
Corporation tax 36,207 46,930
Social security and other taxes 35,308 41,283
Invoice finance creditor 38,552 70,857
Other creditors 1,588 1,437
Accrued expenses 3,586 3,396
261,850 291,761

ELITE DIGITAL SYSTEMS LIMITED (REGISTERED NUMBER: 07925331)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 5,302 5,173
Bank loans - 2-5 years 15,906 15,518
Bank loans more than 5 years 7,011 12,959
Other loans - 1-2 years 40,971 45,119
Other loans - 2-5 years - 40,971
69,190 119,740

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 7,011 12,959

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary 1 2 2