REGISTERED NUMBER: 03116211 (England and Wales)

Elite Motor Tune (1996) Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

B Lane

SECRETARY:

B Lane

REGISTERED OFFICE:

4 Pavilion Court

600 Pavilion Drive

Brackmills Business Park

Northampton

NN4 7SL

REGISTERED NUMBER:

03116211 (England and Wales)

ACCOUNTANTS:

Kilby Fox

Chartered Accountants

4 Pavilion Court

600 Pavilion Drive

Northampton Business Park

Northampton

Northamptonshire

NN4 7SL

FIXED ASSETS

Tangible assets

4

318,946

344,450

CURRENT ASSETS

Stocks

63,000

65,000

Debtors

5

45,678

59,650

Cash at bank and in hand

2,180

9,584

110,858

134,234

CREDITORS

Amounts falling due within one year

6

235,307

241,684

NET CURRENT LIABILITIES

(124,449

)

(107,450

)

TOTAL ASSETS LESS CURRENT LIABILITIES

194,497

237,000

CREDITORS

Amounts falling due after more than one year

7

(57,807

)

(105,250

)

PROVISIONS FOR LIABILITIES

(6,787

)

(17,254

)

NET ASSETS

129,903

114,496

CAPITAL AND RESERVES

Called up share capital

100

100

Other reserves

17,000

17,000

Retained earnings

112,803

97,396

SHAREHOLDERS' FUNDS

129,903

114,496

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 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 25 September 2025 and were signed by:

B Lane - Director

1.	STATUTORY INFORMATION

Elite Motor Tune (1996) 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.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

Office equipment

-

15% 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Office

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

192,311

216

348,277

13,247

554,051

Additions

-

-

14,388

-

14,388

At 31 December 2024

192,311

216

362,665

13,247

568,439

DEPRECIATION

At 1 January 2024

130,661

90

69,124

9,726

209,601

Charge for year

4,995

19

34,349

529

39,892

At 31 December 2024

135,656

109

103,473

10,255

249,493

NET BOOK VALUE

At 31 December 2024

56,655

107

259,192

2,992

318,946

At 31 December 2023

61,650

126

279,153

3,521

344,450

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

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

40,774

188,698

229,472

DEPRECIATION

At 1 January 2024

and 31 December 2024

16,589

70,752

87,341

NET BOOK VALUE

At 31 December 2024

24,185

117,946

142,131

At 31 December 2023

24,185

117,946

142,131

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

2,329

14,669

Amounts recoverable on contract

30,000

30,000

Other debtors

13,349

14,981

45,678

59,650

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

20,646

24,167

Hire purchase contracts

56,964

69,202

Trade creditors

72,389

59,197

Taxation and social security

62,262

66,019

Other creditors

23,046

23,099

235,307

241,684

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

57,807

105,250

8.	ULTIMATE CONTROLLING PARTY

The controlling party is B Lane.

9.	SECURED DEBTS