REGISTERED NUMBER: 05973993 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Elite Supplier Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P Lanehart

Mr R D Sirett

Mrs K Sirett - Kelly

SECRETARY:

Mr R D Sirett

REGISTERED OFFICE:

Springfields

Newtown Common

Newbury

Berkshire

RG20 9DD

REGISTERED NUMBER:

05973993 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

TOR

Saint-Cloud Way

Maidenhead

Berkshire

SL6 8BN

FIXED ASSETS

Tangible assets

4

9,965

684

CURRENT ASSETS

Stocks

1,716

402

Debtors

5

660,825

666,046

Cash at bank

439,671

415,602

1,102,212

1,082,050

CREDITORS

Amounts falling due within one year

6

(431,027

)

(497,681

)

NET CURRENT ASSETS

671,185

584,369

TOTAL ASSETS LESS CURRENT LIABILITIES

681,150

585,053

CREDITORS

Amounts falling due after more than one year

7

(40,000

)

(70,000

)

PROVISIONS FOR LIABILITIES

(41,776

)

(32,598

)

NET ASSETS

599,374

482,455

CAPITAL AND RESERVES

Called up share capital

370

370

Retained earnings

599,004

482,085

SHAREHOLDERS' FUNDS

599,374

482,455

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 28 August 2025 and were signed on its behalf by:

Mr R D Sirett - Director

Mrs K Sirett - Kelly - Director

1.	STATUTORY INFORMATION

Elite Supplier Management 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The company does not make significant estimates and assumptions concerning the future.

Turnover

Turnover represents invoiced sales of goods and services net of VAT and trade discounts. Turnover is recognised when services are preformed or when product sales are delivered.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected life, as follows:

Plant and machinery - 25% on cost

Computer Equipment - 25% on cost

Motor Vehicles - 25% on cost

Tangible fixed assets are included at cost less depreciation and impairment.

Stocks

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

Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with changes recognised in profit and loss.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Invoice discounting facility

The company had an invoice discounting facility which they exited at the end of 2023. The account policy included trade debtors and the returnable element of the proceeds within current liabilities. Service charges and interest were charged to the profit and loss account when incurred. Bad debts were borne by the company and were charged to the profit and loss account when incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

215,816

Additions

11,355

Disposals

(59,127

)

At 31 December 2024

168,044

DEPRECIATION

At 1 January 2024

215,132

Charge for year

1,951

Eliminated on disposal

(59,004

)

At 31 December 2024

158,079

NET BOOK VALUE

At 31 December 2024

9,965

At 31 December 2023

684

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

102,343

Transfer to ownership

(102,343

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

102,343

Transfer to ownership

(102,343

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.

DEBTORS

31.12.24

31.12.23

£

£

Amounts falling due within one year:

Trade debtors

370,735

406,407

Other debtors

51

-

370,786

406,407

Amounts falling due after more than one year:

Other debtors

290,039

259,639

Aggregate amounts

660,825

666,046

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

30,000

30,000

Trade creditors

115,414

89,861

Taxation and social security

174,305

256,362

Other creditors

111,308

121,458

431,027

497,681

Included in other creditors is the invoice discounting facility.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

40,000

70,000

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

44,946

32,000

Between one and five years

11,237

38,667

56,183

70,667

9.	ULTIMATE CONTROLLING PARTY

The company is controlled jointly by Mr R D Sirett and Mrs K Sirett-Kelly.