Company registration number 15492372 (England and Wales)
ELEVATION ENTERPRISE SCHEME LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
ELEVATION ENTERPRISE SCHEME LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ELEVATION ENTERPRISE SCHEME LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 1 -
2025
Notes
£
£
Reserves
3
-

For the financial period ended 28 February 2025 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

T he members have not required the company to obtain an audit of its financial statements for the period in question 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.

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

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 10 November 2025 and are signed on its behalf by:
Mrs S J Palomba
Director
Company registration number 15492372 (England and Wales)
ELEVATION ENTERPRISE SCHEME LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2025
- 2 -
1
Accounting policies
Company information

Elevation Enterprise Scheme Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is 55 Victoria Road, Prestatyn, Denbighshire, LL19 7SP.

1.1
Reporting period

The company has prepared dormant financial statements from incorporation on 15 February 2024.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Profit and loss account

The company has not traded during the period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

1.5
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

Expenses include VAT where applicable as the company cannot reclaim it.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

ELEVATION ENTERPRISE SCHEME LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Taxation

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons employed by the company during the period was:

2025
Number
Total
0
ELEVATION ENTERPRISE SCHEME LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2025
- 4 -
3
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

2025-02-28 2024-02-15 false false true 10 November 2025 CCH Software CCH Accounts Production 2025.200 No description of principal activity Mrs S J Palomba R Lewis S B Price-Roberts Ms A S Wallis 15492372 2024-02-15 2025-02-28 15492372 2025-02-28 15492372 bus:Director1 2024-02-15 2025-02-28 15492372 bus:EntityHasNeverTraded 2024-02-15 2025-02-28 15492372 bus:CompanyLimitedByGuarantee 2024-02-15 2025-02-28 15492372 bus:SmallCompaniesRegimeForAccounts 2024-02-15 2025-02-28 15492372 bus:FRS102 2024-02-15 2025-02-28 15492372 bus:AuditExemptWithAccountantsReport 2024-02-15 2025-02-28 15492372 bus:Director2 2024-02-15 2025-02-28 15492372 bus:Director3 2024-02-15 2025-02-28 15492372 bus:Director4 2024-02-15 2025-02-28 15492372 bus:FullAccounts 2024-02-15 2025-02-28 xbrli:pure xbrli:shares