Elite Properties (North West) Limited

Unaudited Financial Statements for the Year Ended 31 May 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs C A Stitt

P A Stitt

REGISTERED OFFICE:

48 - 52 Penny Lane

Mossley Hill

Liverpool

Merseyside

L18 1DG

REGISTERED NUMBER:

13378610 (England and Wales)

ACCOUNTANTS:

Matthews Sutton & Co Ltd

Chartered Certified Accountants

48 - 52 Penny Lane

Mossley Hill

Liverpool

Merseyside

L18 1DG

FIXED ASSETS

Investment property

4

283,000

148,000

CURRENT ASSETS

Cash at bank

23,023

49,526

CREDITORS

Amounts falling due within one year

5

84,805

71,566

NET CURRENT LIABILITIES

(61,782

)

(22,040

)

TOTAL ASSETS LESS CURRENT LIABILITIES

221,218

125,960

CREDITORS

Amounts falling due after more than one year

6

(186,932

)

(94,712

)

PROVISIONS FOR LIABILITIES

(4,331

)

(3,806

)

NET ASSETS

29,955

27,442

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

7

18,463

16,226

Retained earnings

11,392

11,116

29,955

27,442

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2026 and were signed on its behalf by:

Mrs C A Stitt - Director

P A Stitt - Director

1.	STATUTORY INFORMATION

Elite Properties (North West) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured as rents receivable excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2024

148,000

Additions

132,239

Revaluations

2,761

At 31 May 2025

283,000

NET BOOK VALUE

At 31 May 2025

283,000

At 31 May 2024

148,000

Investment properties were valued using market data by the director on 31 May 2025.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

96

97

Taxation and social security

135

1,422

Other creditors

84,574

70,047

84,805

71,566

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

186,932

94,712

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

186,932

94,712

7.

RESERVES

Fair

value

reserve

£

At 1 June 2024

16,226

Fair value reserve

2,237

At 31 May 2025

18,463