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Company Registration No. 09035835 (England and Wales)
ELIVATE LTD Unaudited accounts for the year ended 30 September 2024
ELIVATE LTD Unaudited accounts Contents
Page
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ELIVATE LTD Company Information for the year ended 30 September 2024
Directors
Mark Fowles Samantha Fowles
Company Number
09035835 (England and Wales)
Registered Office
2 RAMSBURY DRIVE EARLEY READING RG6 7RT ENGLAND
Accountants
Paulicelli Limited Office 3, 3 Brewery Court Theale Reading RG7 5AJ
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ELIVATE LTD Statement of financial position as at 30 September 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
17,845 
35,422 
Investments
1,962 
1,962 
19,807 
37,384 
Current assets
Inventories
40,000 
35,000 
Debtors
204,590 
38,654 
Cash at bank and in hand
233,144 
280,829 
477,734 
354,483 
Creditors: amounts falling due within one year
(151,047)
(93,291)
Net current assets
326,687 
261,192 
Total assets less current liabilities
346,494 
298,576 
Creditors: amounts falling due after more than one year
(24,821)
(130,381)
Provisions for liabilities
Deferred tax
(3,842)
(7,128)
Net assets
317,831 
161,067 
Capital and reserves
Called up share capital
200 
200 
Profit and loss account
317,631 
160,867 
Shareholders' funds
317,831 
161,067 
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 June 2025 and were signed on its behalf by
Mark Fowles Director Company Registration No. 09035835
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ELIVATE LTD Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
ELIVATE LTD is a private company, limited by shares, registered in England and Wales, registration number 09035835. The registered office is 2 RAMSBURY DRIVE, EARLEY, READING, RG6 7RT, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
4 years
Motor vehicles
4 years
Fixtures & fittings
4 years
Computer equipment
4 years
Other tangible fixed assets
4 years
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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ELIVATE LTD Notes to the Accounts for the year ended 30 September 2024
Investments
Investments in shares are included at fair value.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Going concern
These financial statements have been prepared on a going concern basis. The director has considered the company’s financial position and is satisfied that it is appropriate to prepare the accounts on this basis. While the company has not prepared detailed forecasts or projections, the director has confirmed their willingness to provide financial support to the company for the foreseeable future. Any such support shall be made without interest and shall not be called for repayment until such time as the company has generated sufficient retained earnings to make repayments without compromising its financial position or its ability to meet liabilities as they fall due. With these factors in mind, the director considers the company to have adequate resources to continue in operational existence for at least twelve months from the date of approval of the financial statements and therefore deems the going concern basis of preparation to be appropriate.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 October 2023
36,370 
At 30 September 2024
36,370 
Amortisation
At 1 October 2023
36,370 
At 30 September 2024
36,370 
Net book value
At 30 September 2024
- 
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ELIVATE LTD Notes to the Accounts for the year ended 30 September 2024
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 October 2023
32,835 
101,356 
134,191 
Additions
4,106 
- 
4,106 
At 30 September 2024
36,941 
101,356 
138,297 
Depreciation
At 1 October 2023
18,661 
80,108 
98,769 
Charge for the year
8,435 
13,248 
21,683 
At 30 September 2024
27,096 
93,356 
120,452 
Net book value
At 30 September 2024
9,845 
8,000 
17,845 
At 30 September 2023
14,174 
21,248 
35,422 
6
Investments
Other investments 
£ 
Valuation at 1 October 2023
1,962 
Valuation at 30 September 2024
1,962 
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
125,775 
19,669 
Accrued income and prepayments
6,034 
- 
Other debtors
72,781 
18,985 
204,590 
38,654 
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
84,358 
- 
VAT
57,282 
30,199 
Trade creditors
80,441 
70,313 
Taxes and social security
165,849 
68,333 
Other creditors
184 
- 
Loans from directors
(239,812)
(75,554)
Accruals
2,745 
- 
151,047 
93,291 
As at 30 September 2024, the company has an outstanding loan balance of £80,279.61. Monthly repayments of £5,091.75 include both principal and interest. The loan is repayable in full by 26 February 2026. The remaining contractual payments total £101,835.00, of which £80,279.61 relates to principal and £21,555.39 to future interest (not recognised as a liability).
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ELIVATE LTD Notes to the Accounts for the year ended 30 September 2024
9
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
24,821 
130,381 
10
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
3,842 
7,128 
2024 
2023 
£ 
£ 
Provision at start of year
7,128 
- 
(Credited)/charged to the profit and loss account
(3,286)
7,128 
Provision at end of year
3,842 
7,128 
11
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mark Fowles
Director's Loan
77,703 
85,121 
- 
162,824 
Samantha Fowles
Director's Loan
- 
71,711 
- 
71,711 
77,703 
156,832 
- 
234,535 
During the period, the directors received a loan from the company. The loan was subject to the appropriate tax treatment under UK legislation, including a Section 455 charge where applicable. Interest has accrued on the loan in accordance with HMRC’s official rate and relevant reporting requirements have been complied with.
12
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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