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REGISTERED NUMBER: 01557368 (England and Wales)















Financial Statements for the Year Ended 31 December 2024

for

Elite Services Limited

Elite Services Limited (Registered number: 01557368)






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 Services Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: D R Nickson
J D Nickson
S D Nickson





REGISTERED OFFICE: Unit 6 Adswood Road Industrial Estate
Adswood Road
Stockport
Cheshire
SK3 8LF





REGISTERED NUMBER: 01557368 (England and Wales)





ACCOUNTANTS: Lucas Reis Ltd
Chartered Accountants
Lansdowne House
85 Buxton Road
Stockport
Cheshire
SK2 6LR

Elite Services Limited (Registered number: 01557368)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 846,187 539,991
846,187 539,991

CURRENT ASSETS
Stocks 30,246 33,361
Debtors 6 261,908 162,727
Cash at bank and in hand 11,264 38,840
303,418 234,928
CREDITORS
Amounts falling due within one year 7 366,449 408,162
NET CURRENT LIABILITIES (63,031 ) (173,234 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

783,156

366,757

CREDITORS
Amounts falling due after more than one
year

8

(420,401

)

(260,320

)

PROVISIONS FOR LIABILITIES (45,463 ) -
NET ASSETS 317,292 106,437

Elite Services Limited (Registered number: 01557368)

Balance Sheet - continued
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 21,000 21,000
Revaluation reserve 11 212,454 212,454
Retained earnings 83,838 (127,017 )
SHAREHOLDERS' FUNDS 317,292 106,437

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.

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 15 April 2025 and were signed on its behalf by:





S D Nickson - Director


Elite Services Limited (Registered number: 01557368)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Elite Services 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.

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 as modified by the revaluation of certain assets.

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 2015, is being amortised evenly over its estimated useful life of four 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.
Land and buildings - 5% on cost
Plant and machinery etc - 33% on reducing balance, 25% on cost, 15% on cost and 10% 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.


Elite Services Limited (Registered number: 01557368)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

Operating lease commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 40 ) .

Elite Services Limited (Registered number: 01557368)

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 33,250
AMORTISATION
At 1 January 2024
and 31 December 2024 33,250
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2024 306,454 1,188,361 1,494,815
Additions - 646,450 646,450
Disposals - (245,700 ) (245,700 )
At 31 December 2024 306,454 1,589,111 1,895,565
DEPRECIATION
At 1 January 2024 72,583 882,241 954,824
Charge for year 6,129 90,550 96,679
Eliminated on disposal - (2,125 ) (2,125 )
At 31 December 2024 78,712 970,666 1,049,378
NET BOOK VALUE
At 31 December 2024 227,742 618,445 846,187
At 31 December 2023 233,871 306,120 539,991

Elite Services Limited (Registered number: 01557368)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2022 174,665 - 174,665
Cost 131,789 1,589,111 1,720,900
306,454 1,589,111 1,895,565

If land and buildings had not been revalued they would have been included at the following historical cost:

31.12.24 31.12.23
£    £   
Cost 131,789 131,789
Aggregate depreciation 65,597 65,597

Freehold land and buildings were valued on an open market basis basis on 5 December 2023 by Impey & Company Ltd .

Included within the net book value of £846,187 is £588,540 (2023: £296,120) relating to assets held under hire purchase agreements. The depreciation charged to the accounts in the year in respect of such assets amounted to £85,080 (2023: £76,018).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 156,901 24,435
Other debtors 40,981 51,000
Carsville Coaches 50,874 85,718
VAT 13,152 1,574
261,908 162,727

Elite Services Limited (Registered number: 01557368)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 22,814 33,412
Hire purchase contracts 135,523 80,835
Trade creditors 43,744 217,653
Social security and other taxes 59,613 45,567
Credit Cards 35,366 19,621
Other Creditors 52,904 5,464
Directors' current accounts 12,735 2,110
Accruals and deferred income 3,750 3,500
366,449 408,162

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans - 1-2 years 22,814 33,412
Bank loans - 2-5 years 68,441 73,437
Bank loans more 5 yr by instal 3,532 14,057
Hire purchase contracts 325,614 139,414
420,401 260,320

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,532 14,057

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Bank loans 117,601 154,318

The bank loans and overdrafts are secured by a legal charge over the freehold property.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
21,000 Ordinary £1 21,000 21,000

Elite Services Limited (Registered number: 01557368)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

11. RESERVES
Revaluation
reserve
£   
At 1 January 2024
and 31 December 2024 212,454

12. ULTIMATE CONTROLLING PARTY

The controlling party is D R Nickson.