Company No: 11551475 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.12.2024		30.11.2023
		£		£
Fixed assets
Tangible assets	3	51,641		15,830
		51,641		15,830
Current assets
Debtors	4	14,073		11,591
Cash at bank and in hand		63,278		91,351
		77,351		102,942
Creditors: amounts falling due within one year	5	( 59,404)		( 72,472)
Net current assets		17,947		30,470
Total assets less current liabilities		69,588		46,300
Creditors: amounts falling due after more than one year	6	( 15,750)		( 8,532)
Net assets		53,838		37,768
Capital and reserves
Called-up share capital	7	200		200
Profit and loss account		53,638		37,568
Total shareholders' funds		53,838		37,768

For the financial period ending 31 December 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 financial statements for the financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Elite Marine Finishing Ltd (registered number: 11551475) were approved and authorised for issue by the Board of Directors on 16 September 2025. They were signed on its behalf by:

S A M Helliwell Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Elite Marine Finishing Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

The accounts have been prepared for the 13 month period ended December 2024.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

	Period from 01.12.2023 to 31.12.2024		Year ended 30.11.2023
	Number		Number
Monthly average number of persons employed by the Company during the period, including directors	2		2

3. Tangible assets

	Plant and machinery		Vehicles		Total
	£		£		£
Cost
At 01 December 2023	12,742		22,457		35,199
Additions	8,561		35,999		44,560
Disposals	0		( 10,115)		( 10,115)
At 31 December 2024	21,303		48,341		69,644
Accumulated depreciation
At 01 December 2023	4,986		14,383		19,369
Charge for the financial period	3,721		2,937		6,658
Disposals	0		( 8,024)		( 8,024)
At 31 December 2024	8,707		9,296		18,003
Net book value
At 31 December 2024	12,596		39,045		51,641
At 30 November 2023	7,756		8,074		15,830

4. Debtors

	31.12.2024		30.11.2023
	£		£
Trade debtors	0		7,418
Other debtors	14,073		4,173
	14,073		11,591

5. Creditors: amounts falling due within one year

	31.12.2024		30.11.2023
	£		£
Bank loans	7,950		6,720
Amounts owed to directors	0		15,942
Accruals	2,550		2,425
Taxation and social security	41,752		45,260
Obligations under finance leases and hire purchase contracts (secured)	7,152		2,125
	59,404		72,472

The hire purchase liabilities are secured against the assets to which they relate.

6. Creditors: amounts falling due after more than one year

	31.12.2024		30.11.2023
	£		£
Bank loans	0		7,756
Obligations under finance leases and hire purchase contracts	15,750		776
	15,750		8,532

7. Called-up share capital

	31.12.2024		30.11.2023
	£		£
Allotted, called-up and fully-paid
200 Ordinary shares of £ 1.00 each	200		200

8. Related party transactions

Other related party transactions

	31.12.2024		30.11.2023
	£		£
Key personnel	4,898		0