| ELEVATE GUILDFORD LIMITED |
| Registered number: |
08276432 |
| Balance Sheet |
| as at 31 January 2026 |
|
| Notes |
|
|
2026 |
|
|
2025 |
| £ |
£ |
| Current assets |
| Debtors |
4 |
|
35,156 |
|
|
30,996 |
| Cash at bank and in hand |
|
|
57,691 |
|
|
82,731 |
|
|
|
92,847 |
|
|
113,727 |
|
| Creditors: amounts falling due within one year |
5 |
|
(30,290) |
|
|
(40,675) |
|
| Net current assets |
|
|
|
62,557 |
|
|
73,052 |
|
| Net assets |
|
|
|
62,557 |
|
|
73,052 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Profit and loss account |
|
|
|
62,557 |
|
|
73,052 |
|
| Members' funds |
|
|
|
62,557 |
|
|
73,052 |
|
|
|
|
|
|
|
|
| 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. |
|
|
|
|
| A Bowden (Chair) |
| Director |
| Approved by the board on 22 September 2026 |
|
| ELEVATE GUILDFORD LIMITED |
| Notes to the Accounts |
| for the year ended 31 January 2026 |
|
|
| 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). |
|
|
Income |
|
Income and expenses are included in the financial statements as they become receivable or due and are net of VAT.
Levy income is collected by Guildford Borough Council, as agent for the company, based on a percentage of the council tax paid by businesses in Guildford's Business Improvement District (BID). It is recognised on an accruals basis by the company. |
|
|
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: |
|
|
Freehold buildings |
over 50 years |
|
Leasehold land and buildings |
over the lease term |
|
Plant and machinery |
over 5 years |
|
Fixtures, fittings, tools and equipment |
over the life of the BID contract |
|
|
Cash and Cash equivalents |
|
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
|
|
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 |
|
The BID is not subject to corporation tax on its activities of running the improvement district, except that it pays corporation tax on its investment income. |
|
|
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. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2026 |
|
2025 |
| Number |
Number |
|
|
Average number of persons employed by the company |
8 |
|
8 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 February 2025 |
93,304 |
|
At 31 January 2026 |
93,304 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 February 2025 |
93,304 |
|
At 31 January 2026 |
93,304 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 January 2026 |
- |
|
|
| 4 |
Debtors |
2026 |
|
2025 |
| £ |
£ |
|
|
Trade debtors (Levy debts) |
21,963 |
|
16,044 |
|
Other debtors |
13,193 |
|
14,952 |
|
|
|
|
|
|
35,156 |
|
30,996 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2026 |
|
2025 |
| £ |
£ |
|
|
Trade creditors |
5,179 |
|
11,270 |
|
Taxation and social security costs |
6,572 |
|
5,871 |
|
Other creditors |
18,539 |
|
23,534 |
|
|
|
|
|
|
30,290 |
|
40,675 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Other financial commitments |
2026 |
|
2025 |
| £ |
£ |
|
|
Total future minimum payments under non-cancellable operating leases |
|
24,900 |
|
24,900 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Members' liability |
|
|
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1. |
|
|
| 8 |
Other information |
|
|
ELEVATE GUILDFORD LIMITED is a private company limited by guarantee and incorporated in England. Its registered office is: |
|
Stevenson House |
|
16A Tunsgate |
|
Guildford |
|
Surrey |
|
GU1 3QT |