Elite Milking Systems Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05997445

Elite Milking Systems Limited

Filleted Unaudited Financial Statements

28 December 2024

Elite Milking Systems Limited

Financial Statements

Year ended 28 December 2024

Contents	Pages

Balance sheet	1 to 2

Notes to the financial statements	3 to 7

Elite Milking Systems Limited

Balance Sheet

28 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	111,359	88,327

Current assets

Stocks		400,000	455,000
Debtors	6	119,854	112,887
Cash at bank and in hand		400	250
		---------	---------
		520,254	568,137

Creditors: amounts falling due within one year	7	344,308	380,028
		---------	---------
Net current assets		175,946	188,109
		---------	---------
Total assets less current liabilities		287,305	276,436

Creditors: amounts falling due after more than one year	8	99,773	112,438

Provisions	21,158	16,782
	---------	---------
Net assets	166,374	147,216
	---------	---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	166,373	147,215
	---------	---------
Shareholders funds	166,374	147,216
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the year ending 28 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Elite Milking Systems Limited

Balance Sheet (continued)

28 December 2024

These financial statements were approved by the board of directors and authorised for issue on 25 September 2025 , and are signed on behalf of the board by:

Mr S R Blood
Director

Company registration number: 05997445

Elite Milking Systems Limited

Notes to the Financial Statements

Year ended 28 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Alwoodley, Edge Lane, Endon, Stoke-on-Trent, ST9 9DG. The company registration number is 05997445 .

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Office equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. Cost is calculated on an actual basis.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The basic financial instruments of the company are as follows: Debtors Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objectives evidence that the asset is impaired. Cash at bank and in hand This comprises cash at bank and in hand. Trade creditors Trade creditors are not interest bearing and are stated at their nominal value.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2023: 6 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Office equipment	Total
	£	£	£	£	£
Cost
At 29 December 2023	69,377	24,340	113,784	19,505	227,006
Additions	–	–	75,755	–	75,755
Disposals	–	–	( 38,922)	–	( 38,922)
	--------	--------	---------	--------	---------
At 28 December 2024	69,377	24,340	150,617	19,505	263,839
	--------	--------	---------	--------	---------
Depreciation
At 29 December 2023	40,361	22,994	58,637	16,687	138,679
Charge for the year	1,379	337	26,866	704	29,286
Disposals	–	–	( 15,485)	–	( 15,485)
	--------	--------	---------	--------	---------
At 28 December 2024	41,740	23,331	70,018	17,391	152,480
	--------	--------	---------	--------	---------
Carrying amount
At 28 December 2024	27,637	1,009	80,599	2,114	111,359
	--------	--------	---------	--------	---------
At 28 December 2023	29,016	1,346	55,147	2,818	88,327
	--------	--------	---------	--------	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	119,854	101,792
Other debtors	–	11,095
	---------	---------
	119,854	112,887
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	25,049	90,760
Trade creditors	120,867	132,144
Corporation tax	13,044	7,637
Social security and other taxes	94,399	66,122
Other creditors	90,949	83,365
	---------	---------
	344,308	380,028
	---------	---------

The bank overdraft of £1,809 (2023 - £80,649) is secured via fixed and floating charges over all assets and a negative pledge in favour of HSBC Bank Plc.

One bank loan in favour of HSBC Bank Plc is secured via a personal guarantee.

One bank loan in favour of HSBC Bank Plc is unsecured.

Hire purchase liabilities of £28,059 (2023 - £18,518) are secured against the assets to which they relate.

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

	2024	2023
	£	£
Bank loans and overdrafts	50,382	14,726
Other creditors	49,391	97,712
	--------	---------
	99,773	112,438
	--------	---------

One bank loan in favour of HSBC Bank Plc is secured via a personal guarantee.

One bank loan in favour of HSBC Bank Plc is unsecured.

Hire purchase liabilities of £49,391 (2023 - £17,712) are secured against the assets to which they relate.

Included within creditors: amounts falling due after more than one year is an amount of £Nil (2023: £Nil) in respect of liabilities payable by instalments which fall due for payment after more than five years.