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Registration number: 10992486

ELITE COMMUNITY ULTRASOUND LTD

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

ELITE COMMUNITY ULTRASOUND LTD

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

ELITE COMMUNITY ULTRASOUND LTD

Company Information

Directors

Mrs Kirti Gupta

Dr Pankaj Kumar Gupta

Registered office

Unit 14 Ground Floor Unit 14 HighpointBusiness, Henwood
Ashford
TN24 8DH

Accountants

Clever Accounts Limited
Brookfield Court
Selby Road
Leeds
LS25 1NB

 

ELITE COMMUNITY ULTRASOUND LTD

(Registration number: 10992486)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

55,138

72,381

Current assets

 

Debtors

59,915

-

Cash at bank and in hand

 

7,875

37,324

 

67,790

37,324

Creditors: Amounts falling due within one year

(18,532)

(13,810)

Net current assets

 

49,258

23,514

Total assets less current liabilities

 

104,396

95,895

Creditors: Amounts falling due after more than one year

(109,874)

(66,507)

Net (liabilities)/assets

 

(5,478)

29,388

Capital and reserves

 

Called up share capital

5

100

100

Retained earnings

(5,578)

29,288

Shareholders' (deficit)/funds

 

(5,478)

29,388

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

ELITE COMMUNITY ULTRASOUND LTD

(Registration number: 10992486)
Balance Sheet as at 31 October 2024

Approved and authorised by the Board on 21 July 2025 and signed on its behalf by:
 

.........................................

Dr Pankaj Kumar Gupta
Director

 

ELITE COMMUNITY ULTRASOUND LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 14 Ground Floor Unit 14 HighpointBusiness, Henwood
Ashford
TN24 8DH
England

These financial statements were authorised for issue by the Board on 21 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

ELITE COMMUNITY ULTRASOUND LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

3 years straight line

Motor Vehicle

25% Reducing Balance

Plant & Machinery

3 years straight line

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

 

ELITE COMMUNITY ULTRASOUND LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 2).

 

ELITE COMMUNITY ULTRASOUND LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2023

679

76,440

1,079

78,198

Additions

1,213

-

14,332

15,545

At 31 October 2024

1,892

76,440

15,411

93,743

Depreciation

At 1 November 2023

679

4,778

360

5,817

Charge for the year

10,736

17,915

4,137

32,788

At 31 October 2024

11,415

22,693

4,497

38,605

Carrying amount

At 31 October 2024

(9,523)

53,747

10,914

55,138

At 31 October 2023

-

71,662

719

72,381

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

6

Related party transactions

 

ELITE COMMUNITY ULTRASOUND LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Summary of transactions with other related parties

Intercompany loan
 Directors have a vested interest in another company. All rights are held by the directors of this company. Transfers made to other company in this financial year are on the basis of an interest free intercompany loan.
 

Loans to related parties

2024

Other related parties
£

Total
£

Advanced

56,800

56,800

At end of period

56,800

56,800

Terms of loans to related parties

Interest free intercompany loan