Elliot, Kwan And Company Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: 15478992

		28 February 2025
	Notes	£	£
FIXED ASSETS
Tangible Assets	4		1,898

			1,898
CURRENT ASSETS
Debtors	5	34,709
Cash at bank and in hand		24,883

		59,592
Creditors: Amounts Falling Due Within One Year	6	(60,762 )

NET CURRENT ASSETS (LIABILITIES)			(1,170 )

TOTAL ASSETS LESS CURRENT LIABILITIES			728

PROVISIONS FOR LIABILITIES
Deferred Taxation			(574 )

NET ASSETS			154

CAPITAL AND RESERVES
Called up share capital	7		100
Profit and Loss Account			54

SHAREHOLDERS' FUNDS			154

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Elliot, Kwan And Company Limited

Balance Sheet (continued)

As At 28 February 2025

For the period ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Chi Ching Fung

Director

07/08/2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Elliot, Kwan And Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 15478992 . The registered office is Office 704, JQ Modern, 120 Vyse Street, Birmingham, B18 6NF.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

25% straight line method

2.4. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 1

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Elliot, Kwan And Company Limited

Notes to the Financial Statements (continued)

For the Period 10 February 2024 to 28 February 2025

4. Tangible Assets

	Computer Equipment
	£
Cost
As at 10 February 2024	-
Additions	2,576

As at 28 February 2025	2,576

Depreciation
As at 10 February 2024	-
Provided during the period	678

As at 28 February 2025	678

Net Book Value
As at 28 February 2025	1,898

As at 10 February 2024	-

5. Debtors

	28 February 2025
	£
Due within one year
Trade debtors	106
Other debtors	34,603

	34,709

6. Creditors: Amounts Falling Due Within One Year

	28 February 2025
	£
Other creditors	39,843
Taxation and social security	20,919

	60,762

7. Share Capital

	28 February 2025
	£
Allotted, Called up and fully paid	100

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