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Company Registration No. 04001796 (England and Wales)
Elite FPS Limited Unaudited accounts for the year ended 31 March 2026
Elite FPS Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Elite FPS Limited Company Information for the year ended 31 March 2026
Director
Gary John Otton
Company Number
04001796 (England and Wales)
Registered Office
Mapledown Farm Morestead Winchester SO21 1LF
Accountants
For and on Behalf of Tee Accounts Limited Rosehill House Bosinver Lane Polgooth PL26 7BA
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Elite FPS Limited Statement of financial position as at 31 March 2026
2026
2025
Notes
£
£
Fixed assets
Tangible assets
5
152,870
82,180
Current assets
Inventories
8,264
3,870
Debtors
6
111,983
91,866
Cash at bank and in hand
410,382
542,010
530,629
637,746
Creditors: amounts falling due within one year
7
(38,299)
(47,001)
Net current assets
492,330
590,745
Total assets less current liabilities
645,200
672,925
Provisions for liabilities
Deferred tax
(30,749)
(26,708)
Net assets
614,451
646,217
Capital and reserves
Share premium
101
101
Profit and loss account
614,350
646,116
Shareholders' funds
614,451
646,217
For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 June 2026 and were signed on its behalf by
Gary John Otton Director Company Registration No. 04001796
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Elite FPS Limited Notes to the Accounts for the year ended 31 March 2026
1
Statutory information
Elite FPS Limited is a private company, limited by shares, registered in England and Wales, registration number 04001796. The registered office is Mapledown Farm, Morestead, Winchester, SO21 1LF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Revenue Recognition
Revenue, described as turnover, is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services. Revenue is recognised on the sale of goods when the goods are delivered and title has passed. Revenue is recognised on the provision of services on a percentage degree of completion basis calculated by reference to the time expended compared to the total anticipated time.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business and has been amortised evenly over its estimated useful life of 5 years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line, per annum
Plant & machinery
20% straight line, per annum
Motor vehicles
20% straight line, per annum
Fixtures & fittings
20% straight line, per annum
Inventories
Stock, described as Inventories, is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes any expenditure incurred in bringing the stock to its present location and condition. A "first in first out" basis is used. Borrowing costs are not capitalised. Where consignment stock is in substance an asset of the company, it is recognised as such on the balance sheet.
Deferred taxation
Deferred tax has been provided in full in respect of taxation deferred by timing differences (including fair value adjustments) between the treatment of certain items for taxation and accounting purposes except that a deferred tax asset is only recognised to the extent that it is recoverable. Deferred tax is measured using the tax rate that is expected to apply in the periods in which the timing differences are expected to reverse.
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Elite FPS Limited Notes to the Accounts for the year ended 31 March 2026
4
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2025
6,000
At 31 March 2026
6,000
Amortisation
At 1 April 2025
6,000
At 31 March 2026
6,000
Net book value
At 31 March 2026
-
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
£
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2025
14,255
25,763
111,880
18,876
170,774
Additions
-
-
118,168
6,172
124,340
Disposals
-
-
(79,750)
(4,490)
(84,240)
At 31 March 2026
14,255
25,763
150,298
20,558
210,874
Depreciation
At 1 April 2025
7,717
25,763
47,945
7,169
88,594
Charge for the year
1,424
-
18,070
4,442
23,936
On disposals
-
-
(50,658)
(3,868)
(54,526)
At 31 March 2026
9,141
25,763
15,357
7,743
58,004
Net book value
At 31 March 2026
5,114
-
134,941
12,815
152,870
At 31 March 2025
6,538
-
63,935
11,707
82,180
6
Debtors
2026
2025
£
£
Amounts falling due within one year
VAT
4,806
2,521
Trade debtors
6,669
-
Accrued income and prepayments
6,649
7,136
Other debtors
70,259
53,284
88,383
62,941
Amounts falling due after more than one year
Other debtors
23,600
28,925
- 6 -
Elite FPS Limited Notes to the Accounts for the year ended 31 March 2026
7
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
798
680
Taxes and social security
35,609
44,755
Other creditors
821
105
Loans from directors
1,071
1,461
38,299
47,001
8
Average number of employees
During the year the average number of employees was 3 (2025: 3).
- 7 -