Registered Number 13578008
ALBION ELITE PROCURATORS - INTL. LTD
Micro-entity Accounts
31 August 2024
Notes to the Micro-entity Accounts for the period ended 31 August 2024
1Employees
|
2024 |
2023 |
| Average number of employees during the period |
2
|
2
|
2Off balance sheet arrangements
The company operates a revolving credit facility provided by Mr Ambrosian Harold-Shaw, a director, with a maximum credit limit of £250,000. The facility supports working capital needs for the export of collectable goods to international markets. During the year ended 31 August 2024, the company borrowed £174,900 through this facility and repaid £174,900, resulting in no outstanding balance at the end of the period (2024:£0). No interest is charged on the facility. The facility is repayable on demand, with no fixed repayment schedule, and remains available for future drawdowns.
The Company's registered entity in Shenzhen, China, employs staff and has incurred costs for office services and internal shipping, which are expected to be lower than equivalent costs in the UK. Due to the slow recovery from COVID, these costs have been temporarily waived by relevant parties. However, these costs may become payable in the future if the waiver is lifted, representing a potential obligation. Additionally, the Company may be required to reimburse employee-related costs, estimated at approximately £527 per employee per month. The amount and timing of these potential obligations remain uncertain as of the reporting date.
The company uses premises in Hong Kong and Shenzhen, controlled by the family of Mr Ambrosian Harold-Shaw, a director, for export operations. Rent of £50,000 per annum was waived in 2024 based on monthly decisions.