Caseware UK (AP4) 2024.0.164 2024.0.164 2024-11-302024-11-302025-05-212023-12-01falseRental of investment property22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05850182 2023-12-01 2024-11-30 05850182 2022-12-01 2023-11-30 05850182 2024-11-30 05850182 2023-11-30 05850182 c:Director1 2023-12-01 2024-11-30 05850182 d:FreeholdInvestmentProperty 2024-11-30 05850182 d:FreeholdInvestmentProperty 2023-11-30 05850182 d:FreeholdInvestmentProperty 2 2023-12-01 2024-11-30 05850182 d:CurrentFinancialInstruments 2024-11-30 05850182 d:CurrentFinancialInstruments 2023-11-30 05850182 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 05850182 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 05850182 d:ShareCapital 2024-11-30 05850182 d:ShareCapital 2023-11-30 05850182 d:RevaluationReserve 2024-11-30 05850182 d:RevaluationReserve 2023-11-30 05850182 d:RetainedEarningsAccumulatedLosses 2024-11-30 05850182 d:RetainedEarningsAccumulatedLosses 2023-11-30 05850182 c:FRS102 2023-12-01 2024-11-30 05850182 c:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 05850182 c:FullAccounts 2023-12-01 2024-11-30 05850182 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 05850182 5 2023-12-01 2024-11-30 05850182 6 2023-12-01 2024-11-30 05850182 d:AcceleratedTaxDepreciationDeferredTax 2024-11-30 05850182 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 05850182 f:PoundSterling 2023-12-01 2024-11-30 iso4217:GBP xbrli:pure

Registered number: 05850182










ELITE COMMERCIAL PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
ELITE COMMERCIAL PROPERTIES LIMITED
REGISTERED NUMBER: 05850182

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
2
2

Investment property
 5 
825,000
541,633

  
825,002
541,635

Current assets
  

Debtors: amounts falling due within one year
 6 
97,871
120,903

Cash at bank and in hand
  
1,341
1,006

  
99,212
121,909

Creditors: amounts falling due within one year
 7 
(3,465)
(28,019)

Net current assets
  
 
 
95,747
 
 
93,890

Provisions for liabilities
  

Deferred tax
  
(71,000)
-

  
 
 
(71,000)
 
 
-

Net assets
  
849,749
635,525


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
212,367
-

Profit and loss account
  
637,282
635,425

  
849,749
635,525


Page 1

 
ELITE COMMERCIAL PROPERTIES LIMITED
REGISTERED NUMBER: 05850182
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



G Bude
Director

Date: 21 May 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
ELITE COMMERCIAL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

Elite Commerical Properties Limited is a limited liability company incorporated in England and Wales. The Company registration number is 05850182. The registered office is 910 The Crescent, Colchester Business Park, Colchester, Essex, CO4 9YQ.
The financial statements are prepared in pound sterling which is the functional currency of the Company and rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 3

 
ELITE COMMERCIAL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 4

 
ELITE COMMERCIAL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 December 2023
2



At 30 November 2024
2




Page 5

 
ELITE COMMERCIAL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 December 2023
541,633


Surplus on revaluation
283,367



At 30 November 2024
825,000

The 2024 valuations were made by the Directors, on an open market value for existing use basis.




If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
541,633
541,633


6.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
97,424
120,903

Prepayments and accrued income
447
-

97,871
120,903



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
435
1,924

Other taxation and social security
522
548

Other creditors
2,508
25,547

3,465
28,019


Page 6

 
ELITE COMMERCIAL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

8.


Deferred taxation




2024


£






Charged to profit or loss
71,000



At end of year
71,000

The deferred taxation balance is made up as follows:

2024
2023
£
£


Revaluation gains
71,000
-

71,000
-


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £Nil (2023 - £Nil). Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date.


10.


Related party transactions

Elite Tiling Limited is a fully owned subsidiary of the Company. During the year, the Company charged  rent to Elite Tiling Limited of £36,000 (2023 - £36,000). During the year, the Company received dividends of £225,000 (2023 - £225,000) from Elite Tiling Limited. At the year end, Elite Tiling Limited owed the Company £97,424 (2023 - £120,903).
At the balance sheet date the Company owed Mr G Bude £nil (2023 - £23,487) in respect of his Director's loan account. 


11.


Controlling party

The ultimate controlling party is deemed to be G Bude.

 
Page 7