Elusiv Ltd - Filleted accounts

Registered number

10897058

Elusiv Ltd

Filleted Accounts

30 November 2024

Elusiv Ltd
Registered number:		10897058
Balance Sheet
as at 30 November 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		103,092			87,920

Current assets
Stocks		58,742			86,260
Debtors	4	295,989			443,816
Cash at bank and in hand		271,167			446,905
		625,898			976,981

Creditors: amounts falling due within one year	5	(365,196)			(555,826)

Net current assets			260,702			421,155

Total assets less current liabilities			363,794			509,075

Creditors: amounts falling due after more than one year	6		(5,223)			(21,025)

Provisions for liabilities			(19,587)			(22,797)


Net assets			338,984			465,253

Capital and reserves
Called up share capital			2			2
Profit and loss account			338,982			465,251

Shareholders' funds			338,984			465,253

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Garronpreet Singh Hayre
Director
Approved by the board on 21 November 2025

Elusiv Ltd
Notes to the Accounts
for the year ended 30 November 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Fixtures, fittings and equipment	15% reducing balance basis

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees		2024		2023
Number				Number

	Average number of persons employed by the company		8		6


3	Tangible fixed assets
					Fixtures, fittings and equipment
£
	Cost
	At 1 December 2023				130,326
	Additions				33,365
	At 30 November 2024				163,691

	Depreciation
	At 1 December 2023				42,406
	Charge for the year				18,193
	At 30 November 2024				60,599

	Net book value
	At 30 November 2024				103,092
	At 30 November 2023				87,920


4	Debtors		2024		2023
£				£

	Trade debtors		295,989		443,816


5	Creditors: amounts falling due within one year		2024		2023
£				£

	Bank loans and overdrafts		10,446		10,315
	Obligations under finance lease and hire purchase contracts		5,553		22,333
	Trade creditors		250,133		313,767
	Taxation and social security costs		87,331		185,135
	Other creditors		11,733		24,276
			365,196		555,826


6	Creditors: amounts falling due after one year		2024		2023
£				£

	Bank loans		5,223		15,472
	Obligations under finance lease and hire purchase contracts		-		5,553
			5,223		21,025


7	Controlling party

	The controlling parties are the directors, Mr Neel Ondhia and Mr Garronpreet Singh Hayre.


8	Other information

	Elusiv Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Hayre Building
	Ulverscroft Road
	Leicester
	LE4 6BY