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Registration number: 07331483

Elite Development and Letting Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Elite Development and Letting Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Elite Development and Letting Limited

Company Information

Directors

D M Lloyd

T Lloyd

Company secretary

T Lloyd

Registered office

Maes Y Llwyfen
Heol-Y-Mynach Ynysybwl
Pontypridd
CF37 3PE

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisers
Spencer House
Morston Court
Aisecome Way
Weston-super-Mare
North Somerset
BS22 8NG

 

Elite Development and Letting Limited

(Registration number: 07331483)
Balance Sheet
31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,242

3,814

Current assets

 

Debtors

5

1,372

538

Cash at bank and in hand

 

447

3,549

 

1,819

4,087

Creditors: Amounts falling due within one year

6

(19,588)

(23,796)

Net current liabilities

 

(17,769)

(19,709)

Net liabilities

 

(14,527)

(15,895)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(14,528)

(15,896)

Shareholders' deficit

 

(14,527)

(15,895)

 

Elite Development and Letting Limited

(Registration number: 07331483)
Balance Sheet
31 July 2024

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 April 2025 and signed on its behalf by:
 

.........................................
T Lloyd
Company secretary and director

 

Elite Development and Letting Limited

Notes to the Unaudited Financial Statements
Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Maes Y Llwyfen
Heol-Y-Mynach Ynysybwl
Pontypridd
CF37 3PE

These financial statements were authorised for issue by the Board on 25 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The net liabilities at the balance sheet date amounted to £15,895 (2022 £16,362). The company has the support of the directors and the bank.

 

Elite Development and Letting Limited

Notes to the Unaudited Financial Statements
Year Ended 31 July 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

15% Reducing Balance

Motor Vehicles

15% Reducing Balance

Office Equipment

15% Reducing Balance

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Elite Development and Letting Limited

Notes to the Unaudited Financial Statements
Year Ended 31 July 2024

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

2,640

762

22,833

26,235

At 31 July 2024

2,640

762

22,833

26,235

Depreciation

At 1 August 2023

2,288

346

19,787

22,421

Charge for the year

53

62

457

572

At 31 July 2024

2,341

408

20,244

22,993

Carrying amount

At 31 July 2024

299

354

2,589

3,242

At 31 July 2023

352

416

3,046

3,814

5

Debtors

2024
£

2023
£

Other debtors

689

-

Prepayments

683

538

1,372

538

6

Creditors

Creditors: amounts falling due within one year

 

Elite Development and Letting Limited

Notes to the Unaudited Financial Statements
Year Ended 31 July 2024

2024
£

2023
£

Due within one year

Accruals and deferred income

2,100

2,100

Other creditors

17,488

21,696

19,588

23,796