REGISTERED NUMBER: 05287953 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

ELEVATION HOME BUILDING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr P Sanderson

SECRETARY:

Mrs C D Sanderson

REGISTERED OFFICE:

71 Northorpe Lane

Thurlby

Bourne

PE10 0HG

REGISTERED NUMBER:

05287953 (England and Wales)

ACCOUNTANTS:

TC Group

Baird House

Seebeck Place

Knowlhill

Milton Keynes

Buckinghamshire

MK5 8FR

FIXED ASSETS

Tangible assets

4

1,369

1,448

Investments

5

17,500

17,500

18,869

18,948

CURRENT ASSETS

Stocks

184,855

-

Debtors

6

15,201

165,127

Cash at bank

28,729

5,911

228,785

171,038

CREDITORS

Amounts falling due within one year

7

102,419

34,606

NET CURRENT ASSETS

126,366

136,432

TOTAL ASSETS LESS CURRENT LIABILITIES

145,235

155,380

CREDITORS

Amounts falling due after more than one year

8

(5,000

)

(15,000

)

PROVISIONS FOR LIABILITIES

(273

)

(362

)

NET ASSETS

139,962

140,018

CAPITAL AND RESERVES

Called up share capital

10

65,100

65,100

Retained earnings

74,862

74,918

SHAREHOLDERS' FUNDS

139,962

140,018

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 29 August 2025 and were signed by:

Mr P Sanderson - Director

1.	STATUTORY INFORMATION

Elevation Home Building Limited 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sales of properties are recognised and profits taken when contracts have been exchanged and when the property is substantially complete, which is defined as being when the floor screeds are complete and the walls plastered.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 December 2023

841

2,486

8,633

11,960

Additions

-

377

-

377

At 30 November 2024

841

2,863

8,633

12,337

DEPRECIATION

At 1 December 2023

825

1,869

7,818

10,512

Charge for year

4

249

203

456

At 30 November 2024

829

2,118

8,021

10,968

NET BOOK VALUE

At 30 November 2024

12

745

612

1,369

At 30 November 2023

16

617

815

1,448

5.	FIXED ASSET INVESTMENTS

The company developed a small block of four apartments from which title to the freehold was retained. £17,500 was transferred from costs, in 2010, being the directors estimate of the lower of cost and net realisable value for generating the asset. £17,500 has remained the valuation within the financial statements since 2010.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts recoverable on contract

12,500

5,000

Directors' loan accounts

-

157,599

VAT

2,701

2,528

15,201

165,127

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

18,189

11,237

Corporation tax

-

5,081

Other creditors

3,962

6,558

Directors' loan accounts

68,418

-

Accrued expenses

1,850

1,730

102,419

34,606

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

5,000

10,000

Bank loans - 2-5 years

-

5,000

5,000

15,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

15,000

25,000

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

65,100

Ordinary

£1

65,100

65,100

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, the director operated a current account. At 30 November 2023, a balance of £157,599 was owed from the director which was repaid to the company within 9 months.

At 30 November 2024, a balance of £68,418 was owed to the director.

12.	ULTIMATE CONTROLLING PARTY

The company is under the control of P Sanderson and C Sanderson, who own 100% of the share capital.