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Registered number: 09332635
Elite Capital Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
T Cheung & Co
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09332635
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 12,282 9,267
Tangible Assets 5 18,033 20,181
30,315 29,448
CURRENT ASSETS
Stocks 6 649,640 501,029
Debtors 7 795,767 890,560
Cash at bank and in hand 16,728 105,384
1,462,135 1,496,973
Creditors: Amounts Falling Due Within One Year 8 (557,080 ) (682,681 )
NET CURRENT ASSETS (LIABILITIES) 905,055 814,292
TOTAL ASSETS LESS CURRENT LIABILITIES 935,370 843,740
Creditors: Amounts Falling Due After More Than One Year 9 (242,068 ) (205,105 )
NET ASSETS 693,302 638,635
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 693,202 638,535
SHAREHOLDERS' FUNDS 693,302 638,635
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Page 2
For the year ending 31 December 2024 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 her 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
Ms Anh Thi Phuong Nguyen
Director
30/09/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Elite Capital Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09332635 . The registered office is Studio 4 Clarks Courtyard, 145 Granville Street, Birmingham, B1 1SB.
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, excluding discounts, rebates, value added tax and other sales taxes. 
2.3. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are Trade Marks. It is amortised to the profit and loss account over its estimated economic life of five years.
2.4. 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:
Plant & Machinery 20% Reduce Balance
Computer Equipment 20% Reduce Balance
2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. 
2.6. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2023: 9)
13 9
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4. Intangible Assets
Intellectual Property
£
Cost
As at 1 January 2024 17,113
Additions 8,047
As at 31 December 2024 25,160
Amortisation
As at 1 January 2024 7,846
Provided during the period 5,032
As at 31 December 2024 12,878
Net Book Value
As at 31 December 2024 12,282
As at 1 January 2024 9,267
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 January 2024 9,777 42,267 52,044
Additions - 3,609 3,609
Disposals - (5,951 ) (5,951 )
As at 31 December 2024 9,777 39,925 49,702
Depreciation
As at 1 January 2024 7,234 24,629 31,863
Provided during the period - 4,509 4,509
Disposals - (4,703 ) (4,703 )
As at 31 December 2024 7,234 24,435 31,669
Net Book Value
As at 31 December 2024 2,543 15,490 18,033
As at 1 January 2024 2,543 17,638 20,181
6. Stocks
2024 2023
£ £
Stock 649,640 501,029
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 545,721 855,293
Other debtors 250,046 35,267
795,767 890,560
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 72,000 147,800
Bank loans and overdrafts 260,376 67,567
Other loans 25,000 -
Other creditors 163,623 377,942
Taxation and social security 36,081 89,372
557,080 682,681
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 15,533 24,877
Other loans 226,535 180,228
242,068 205,105
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2024 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Ms Anh Thi Phuong Nguyen - 38,252 - - 38,252
The above loan is unsecured, interest free and repayable on demand. The director's loan account for the amount of £38,251.69  has been fully repaid to the company on 30 September 2025.
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