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Registered Number: 12907151
England and Wales

 

 

 

ELITE.C PROPERTY INVESTMENT LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 October 2023

End date: 30 September 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 670,649    650,649 
670,649    650,649 
Current assets      
Cash at bank and in hand 139    6,042 
Creditors: amount falling due within one year 4 (2,514)   (2,863)
Net current assets (2,375)   3,179 
 
Total assets less current liabilities 668,274    653,828 
Creditors: amount falling due after more than one year 5 (652,139)   (612,021)
Provisions for liabilities 6 (6,715)   (6,784)
Net assets 9,420    35,023 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 9,320    34,923 
Shareholders' funds 9,420    35,023 
 


For the year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 11 May 2025 and were signed by:


-------------------------------
Xuejuan Lin
Director
1
General Information
ELITE.C PROPERTY INVESTMENT LTD is a private company, limited by shares, registered in England and Wales, registration number 12907151, registration address 48 Brampton Road, Bexleyheath, DA7 4HD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 October 2023 595,649    595,649 
Additions  
Disposals  
Revaluations 75,000    75,000 
At 30 September 2024 670,649    670,649 
Depreciation
At 01 October 2023  
Charge for year  
On disposals  
At 30 September 2024  
Net book values
Closing balance as at 30 September 2024 670,649    670,649 
Opening balance as at 01 October 2023 650,649    650,649 


4.

Creditors: amount falling due within one year

2024
£
  2023
£
Amex 285   
PAYE & Social Security   62 
Accrued Expenses 1,000   
Other Creditors 1,229    1,229 
Wages & Salaries Control Account   1,572 
2,514    2,863 

5.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Accrued Expenses   1,000 
Director Loan: Xuejuan Lin 652,139    611,021 
652,139    612,021 

6.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 6,650    6,650 
Pension Provisions 65    134 
6,715    6,784 

2