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ELEVATE PROPERTY SERVICES LTD

Registered Number
SC752205
(Scotland)

Unaudited Financial Statements for the Year ended
31 December 2024

ELEVATE PROPERTY SERVICES LTD
Company Information
for the year from 1 January 2024 to 31 December 2024

Director

DOYLE, Joanne

Registered Address

193 Dumbarton Road
Room 4
Clydebank
G81 4XJ

Registered Number

SC752205 (Scotland)
ELEVATE PROPERTY SERVICES LTD
Statement of Financial Position
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,963-
1,963-
Current assets
Debtors16,0845,632
Cash at bank and on hand11,8745,346
27,95810,978
Creditors amounts falling due within one year4(26,542)(10,517)
Net current assets (liabilities)1,416461
Total assets less current liabilities3,379461
Net assets3,379461
Capital and reserves
Called up share capital11
Profit and loss account3,378460
Shareholders' funds3,379461
The financial statements were approved and authorised for issue by the Director on 6 June 2025, and are signed on its behalf by:
DOYLE, Joanne
Director
Registered Company No. SC752205
ELEVATE PROPERTY SERVICES LTD
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Fixtures and fittings4
Office Equipment3
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year31
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
Additions2,7472,747
At 31 December 242,7472,747
Depreciation and impairment
Charge for year784784
At 31 December 24784784
Net book value
At 31 December 241,9631,963
At 31 December 23--
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables2,0771,967
Amounts owed to related parties119565
Taxation and social security22,7291,984
Other creditors7505,000
Accrued liabilities and deferred income8671,001
Total26,54210,517