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REGISTERED NUMBER: 04939570 (England and Wales)















Audited Financial Statements for the Year Ended 31 August 2024

for

Elite GB Environmental Services Ltd

Elite GB Environmental Services Ltd (Registered number: 04939570)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Elite GB Environmental Services Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTORS: P A Sayer
M S Sayer
L A Sayer



REGISTERED OFFICE: Ritzbury House
Green Street
Sunbury-On-Thames
TW16 6QA



REGISTERED NUMBER: 04939570 (England and Wales)



AUDITORS: HC & Co Limited
Chartered Certified Accountants
and Statutory Auditors



BANKERS: HSBC Bank PLC

Elite GB Environmental Services Ltd (Registered number: 04939570)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £ £ £
FIXED ASSETS
Intangible assets 4 1,042 6,042
Tangible assets 5 80,517 90,218
81,559 96,260

CURRENT ASSETS
Stocks 6 - 30,500
Debtors 7 1,539,205 1,530,046
Cash at bank 14,495 122,453
1,553,700 1,682,999
CREDITORS
Amounts falling due within one year 8 817,592 894,376
NET CURRENT ASSETS 736,108 788,623
TOTAL ASSETS LESS CURRENT
LIABILITIES

817,667

884,883

PROVISIONS FOR LIABILITIES 20,129 17,141
NET ASSETS 797,538 867,742

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 11 796,538 866,742
SHAREHOLDERS' FUNDS 797,538 867,742

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 Board of Directors and authorised for issue on 22 May 2025 and were signed on its behalf by:





P A Sayer - Director


Elite GB Environmental Services Ltd (Registered number: 04939570)

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

1. STATUTORY INFORMATION

Elite GB Environmental Services Ltd 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 (£) which is also the functional currency.

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.

Going concern
The company's business activities, performance and position together with its principal risks and uncertainties are likely to affect its future development and performance. The directors, having made enquiries and reviewed the forecasts and in light of the opportunities and facilities available, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore, it is reasonable to continue to adopt the going concern basis in preparing the Annual Report and Accounts.

Revenue recognition
Revenues comprise sales to outside customers after discounts, excluding value added tax. Income is recognised when the significant risks and rewards of ownership of the goods and services are transferred to the customer, the sales price agreed and the receipt of payment can be assured.

Revenue from supply of services is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty.

Goodwill
Intellectual property and goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on cost
Motor vehicles - 15% on cost
Office equipment - 20% on cost

Elite GB Environmental Services Ltd (Registered number: 04939570)

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

2. ACCOUNTING POLICIES - continued

Inventories
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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
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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Elite GB Environmental Services Ltd (Registered number: 04939570)

Notes to the Financial Statements - continued
for the Year Ended 31 August 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 business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Elite GB Environmental Services Ltd (Registered number: 04939570)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all its liabilities.

Grants
Grants are accounted for under the accrual model and classified either as a grant relating to revenue (revenue-based grant) or a grant relating to assets (capital-based grants). Grants which relate to revenue are recognised in income in the period the related costs are incurred by the entity for which the grant is intended to compensate. For grants which are received by the entity for compensation for expenses or losses which have already been incurred, the grant is recognised in income when it is received or receivable provided that the terms of the grant do not impose future performance-related conditions. Any grants that are received before the revenue recognition criteria are met are recognised in the entity's financial statements as a liability. Government grants in relation to tangible fixed asset are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Intellectual
property
and
goodwill
£
COST
At 1 September 2023
and 31 August 2024 50,000
AMORTISATION
At 1 September 2023 43,958
Amortisation for year 5,000
At 31 August 2024 48,958
NET BOOK VALUE
At 31 August 2024 1,042
At 31 August 2023 6,042

Elite GB Environmental Services Ltd (Registered number: 04939570)

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

5. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery vehicles equipment Totals
£ £ £ £
COST
At 1 September 2023 97,608 37,343 17,496 152,447
Additions - 25,000 - 25,000
Disposals - (25,405 ) - (25,405 )
At 31 August 2024 97,608 36,938 17,496 152,042
DEPRECIATION
At 1 September 2023 36,849 14,892 10,488 62,229
Charge for year 13,350 5,541 1,838 20,729
Eliminated on disposal - (11,433 ) - (11,433 )
At 31 August 2024 50,199 9,000 12,326 71,525
NET BOOK VALUE
At 31 August 2024 47,409 27,938 5,170 80,517
At 31 August 2023 60,759 22,451 7,008 90,218

On 31 July 2019, ABN Amro Asset Based Finance N.V. created a fixed and floating charge over the company's assets.


6. STOCKS
31.8.24 31.8.23
£ £
Work-in-progress - 30,500

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£ £
Trade debtors 1,216,236 1,408,581
Other debtors 550 -
Director's loan account 89,605 55,634
Prepayments and accrued income 232,814 65,831
1,539,205 1,530,046

Trade debtors at year end date includes factored debts of £227,546 (2023: £562,050).

The overdrawn directors' loan accounts were repaid within nine months of the year end.

Elite GB Environmental Services Ltd (Registered number: 04939570)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£ £
Finance leases (see note 9) - 11,663
Trade creditors 431,004 202,065
Tax 11,225 1,056
Other taxation 17,893 19,591
Other creditors 230,617 562,050
Accrued expenses 126,853 97,951
817,592 894,376

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £nil (2023 - £11,663).

Included with other creditors falling due within one year are secured liabilities of £227,546 (2023: £562,050) in respect of amount due on factored debt by way of fixed and floating charge over the company's assets.

9. LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases
31.8.24 31.8.23
£ £
Net obligations repayable:
Within one year - 11,663

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £ £
1,000 Ordinary £1 1,000 1,000

11. RESERVES
Retained
earnings
£

At 1 September 2023 866,742
Profit for the year 19,886
Dividends (90,090 )
At 31 August 2024 796,538

Elite GB Environmental Services Ltd (Registered number: 04939570)

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

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

H Chudasama (Senior Statutory Auditor)
for and on behalf of HC & Co Limited

13. TRANSACTIONS WITH DIRECTOR

On 31 July 2019, the directors offered their personal guarantees to ABN Amro Asset Based Finance N.V. to secure the company's financing arrangement.

As at 31 August 2024, the company was owed £24,608 by director A (2023: £15,055), £25,330 by director B (2023: £14,900) and £39,667 by director C (2023: £25,679).

14. POST BALANCE SHEET EVENTS

There are no post balance sheet events which require disclosure in the financial statements for the year under review.