General Information
Elite Digital Appliances Ltd is a private company, limited by shares, registered in England and Wales, registration number 05976540, registration address Unit 4, Chineham Point Crockford Lane, Chineham, Basingstoke, Hampshire, England, RG24 8NA.
The presentation currency is £ sterling.
| 1. |
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.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Amortisation of the goodwill was calculated on straight line basis over the estimated expected useful economic life of 10 years. As at the balance sheet date, the goodwill is fully amortised and carries a net book value of £nil (2024: £nil)
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 33% on cost Computer equipment - 25% on cost Plant and machinery - 25% on cost
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured at initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised costs using the effective interest method.
|
| 2. |
Employees
Average number of employees during the year was 12 (2024 : 11).
|
| 3. |
Intangible fixed assets
| Cost |
Goodwill |
|
Total |
| |
£ |
|
£ |
| At 01 April 2024 |
12,000 |
|
12,000 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 March 2025 |
12,000 |
|
12,000 |
| Amortisation |
| At 01 April 2024 |
12,000 |
|
12,000 |
| Charge for year |
- |
|
- |
| On disposals |
- |
|
- |
| At 31 March 2025 |
12,000 |
|
12,000 |
| Net book values |
| At 31 March 2025 |
- |
|
- |
| At 31 March 2024 |
- |
|
- |
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Motor Vehicles |
|
Fixtures and Fittings |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 April 2024 |
5,462 |
|
187,461 |
|
103,419 |
|
43,033 |
|
339,375 |
| Additions |
- |
|
13,125 |
|
1,407 |
|
2,958 |
|
17,490 |
| Disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 31 March 2025 |
5,462 |
|
200,586 |
|
104,826 |
|
45,991 |
|
356,865 |
| Depreciation |
| At 01 April 2024 |
5,050 |
|
158,963 |
|
97,369 |
|
36,928 |
|
298,310 |
| Charge for year |
412 |
|
20,804 |
|
3,585 |
|
4,300 |
|
29,101 |
| On disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 31 March 2025 |
5,462 |
|
179,767 |
|
100,954 |
|
41,228 |
|
327,411 |
| Net book values |
| Closing balance as at 31 March 2025 |
- |
|
20,819 |
|
3,872 |
|
4,763 |
|
29,454 |
| Opening balance as at 01 April 2024 |
412 |
|
28,498 |
|
6,050 |
|
6,105 |
|
41,065 |
|
| 5. |
Stocks
|
2025
£ |
|
2024
£ |
| Stocks |
75,000 |
|
100,000 |
|
75,000 |
|
100,000 |
|
| 6. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
50,000 |
|
50,000 |
| Prepayments & Accrued Income |
22,257 |
|
7,570 |
| Amounts Recoverable on Contracts |
20,000 |
|
14,000 |
| Other Debtors |
10,388 |
|
10,188 |
|
102,645 |
|
81,758 |
|
| 7. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
90,156 |
|
63,304 |
| Bank Loans - less than 1 year |
14,897 |
|
19,556 |
| Social Security and Other Taxes |
88,100 |
|
98,291 |
| Accruals and Deferred Income |
52,348 |
|
46,538 |
| Other Creditors |
782 |
|
21,471 |
| Directors' Current Accounts |
14 |
|
2 |
|
246,297 |
|
249,162 |
|
| 8. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Bank Loans 1-2 Years |
3,688 |
|
12,113 |
| Bank Loans 2-5 Years |
- |
|
8,307 |
|
3,688 |
|
20,420 |
|
| 9. |
Provisions for liabilities
|
2025
£ |
|
2024
£ |
| Deferred Tax |
4,402 |
|
9,863 |
|
4,402 |
|
9,863 |
|
4
|