Company registration number 12569785 (England and Wales)
ELITE VEHICLE SUPPLIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
PAGES FOR FILING WITH REGISTRAR
ELITE VEHICLE SUPPLIES LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
ELITE VEHICLE SUPPLIES LTD
BALANCE SHEET
AS AT 31 MARCH 2026
31 March 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
3
110,993
166,143
Current assets
Stocks
440,828
382,977
Debtors
4
4,740,424
1,786,565
Cash at bank and in hand
2,251,601
2,125,420
7,432,853
4,294,962
Creditors: amounts falling due within one year
5
(1,880,666)
(1,915,911)
Net current assets
5,552,187
2,379,051
Total assets less current liabilities
5,663,180
2,545,194
Creditors: amounts falling due after more than one year
6
(62,856)
(135,677)
Net assets
5,600,324
2,409,517
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
5,600,322
2,409,515
Total equity
5,600,324
2,409,517
ELITE VEHICLE SUPPLIES LTD
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2026
31 March 2026
- 2 -

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year 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 profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 29 June 2026 and are signed on its behalf by:
Mr S Forman
Director
Company registration number 12569785 (England and Wales)
ELITE VEHICLE SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 3 -
1
Accounting policies
Company information

Elite Vehicle Supplies Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 15 Terry Dicken Industrial Estate, Station Road, Stokesley, North Yorkshire, TS9 7AE.

1.1
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.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, Fittings and Equipment
15% Straight line
Motor vehicles
25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

ELITE VEHICLE SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 4 -
1.5
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.

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.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ELITE VEHICLE SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.8
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.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
10
6
ELITE VEHICLE SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 6 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2025
230,184
Additions
327,018
Disposals
(386,245)
At 31 March 2026
170,957
Depreciation and impairment
At 1 April 2025
64,041
Depreciation charged in the year
29,157
Eliminated in respect of disposals
(33,234)
At 31 March 2026
59,964
Carrying amount
At 31 March 2026
110,993
At 31 March 2025
166,143
4
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
1,816,130
1,775,276
Other debtors
2,907,673
8,566
4,723,803
1,783,842
2026
2025
Amounts falling due after more than one year:
£
£
Deferred tax asset
16,621
2,723
Total debtors
4,740,424
1,786,565
ELITE VEHICLE SUPPLIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 7 -
5
Creditors: amounts falling due within one year
2026
2025
£
£
Obligations under finance leases
8,527
17,880
Trade creditors
1,065,283
679,336
Corporation tax
585,100
938,151
Other taxation and social security
206,673
248,360
Other creditors
5,339
24,697
Accruals and deferred income
9,744
7,487
1,880,666
1,915,911
6
Creditors: amounts falling due after more than one year
2026
2025
Notes
£
£
Obligations under finance leases
62,856
135,677
7
Secured Debt

Finance lease liabilities of £71,383 (202 5 - £153,557) are secured on the assets to which they relate.

8
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2026
2025
£
£
Total commitments
32,466
20,805
9
Directors' transactions

During the year the company advanced £2,878,079 (2025- £Nil) to it's directors. Repayments totalling £NIL (2025- £113,090) were made in respect of those advances. The advances were subject to interest at 3.75% and were repayable on demand.

2026-03-31 2025-04-01 false false false 29 June 2026 CCH Software CCH Accounts Production 2026.100 No description of principal activity Mrs J Forman Mr S Forman 12569785 2025-04-01 2026-03-31 12569785 2026-03-31 12569785 2025-03-31 12569785 core:OtherPropertyPlantEquipment 2026-03-31 12569785 core:OtherPropertyPlantEquipment 2025-03-31 12569785 core:CurrentFinancialInstruments core:WithinOneYear 2026-03-31 12569785 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 12569785 core:Non-currentFinancialInstruments core:AfterOneYear 2026-03-31 12569785 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 12569785 core:ShareCapital 2026-03-31 12569785 core:ShareCapital 2025-03-31 12569785 core:RetainedEarningsAccumulatedLosses 2026-03-31 12569785 core:RetainedEarningsAccumulatedLosses 2025-03-31 12569785 bus:Director2 2025-04-01 2026-03-31 12569785 core:FurnitureFittings 2025-04-01 2026-03-31 12569785 core:MotorVehicles 2025-04-01 2026-03-31 12569785 2024-04-01 2025-03-31 12569785 core:OtherPropertyPlantEquipment 2025-03-31 12569785 core:OtherPropertyPlantEquipment 2025-04-01 2026-03-31 12569785 core:CurrentFinancialInstruments 2026-03-31 12569785 core:CurrentFinancialInstruments 2025-03-31 12569785 core:AfterOneYear 2026-03-31 12569785 core:AfterOneYear 2025-03-31 12569785 bus:PrivateLimitedCompanyLtd 2025-04-01 2026-03-31 12569785 bus:SmallCompaniesRegimeForAccounts 2025-04-01 2026-03-31 12569785 bus:FRS102 2025-04-01 2026-03-31 12569785 bus:AuditExemptWithAccountantsReport 2025-04-01 2026-03-31 12569785 bus:Director1 2025-04-01 2026-03-31 12569785 bus:FullAccounts 2025-04-01 2026-03-31 xbrli:pure xbrli:shares iso4217:GBP