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REGISTERED NUMBER: 01027900 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

ELETE DESIGN LIMITED
ELETE DESIGN LIMITED (REGISTERED NUMBER: 01027900)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELETE DESIGN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2025







DIRECTORS: P Morgan
N Pounder
K D Jones





SECRETARY: N Pounder





REGISTERED OFFICE: Court House
Court Road
Bridgend
CF31 1BE





REGISTERED NUMBER: 01027900 (England and Wales)





ACCOUNTANTS: Xeinadin South Wales and West Limited
Court House
Court Road
Bridgend
CF31 1BE
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ELETE DESIGN LIMITED (REGISTERED NUMBER: 01027900)

BALANCE SHEET
28 FEBRUARY 2025

2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 143,909 9,074
Investments 5 20,596 20,596
Investment properties 6 5,564,216 5,960,715
5,728,721 5,990,385

CURRENT ASSETS
Stocks 6,226 8,447
Debtors 7 1,557,226 820,154
Cash at bank 891,805 1,437,284
2,455,257 2,265,885
CREDITORS
Amounts falling due within one year 8 340,249 393,000
NET CURRENT ASSETS 2,115,008 1,872,885
TOTAL ASSETS LESS CURRENT
LIABILITIES
7,843,729
7,863,270

CREDITORS
Amounts falling due after more than one
year
9
-
(1,028
)

PROVISIONS FOR LIABILITIES (38,596 ) (131,087 )
NET ASSETS 7,805,133 7,731,155

CAPITAL AND RESERVES
Called up share capital 130 130
Fair value reserve 10 626,497 929,474
Capital redemption reserve 70 70
Retained earnings 7,178,436 6,801,481
SHAREHOLDERS' FUNDS 7,805,133 7,731,155

The notes form part of these financial statements

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ELETE DESIGN LIMITED (REGISTERED NUMBER: 01027900)

BALANCE SHEET - continued
28 FEBRUARY 2025


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 21 November 2025 and were signed on its behalf by:





N Pounder - Director


The notes form part of these financial statements

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ELETE DESIGN LIMITED (REGISTERED NUMBER: 01027900)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025


1. STATUTORY INFORMATION

Elete Design 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about Elete Design Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents amounts receivable from rents and services invoiced net of value added tax and takings from the public house net of value added tax. Rental and services income is recognised when the right to consideration is earned and other income is recognised when receivable..

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost and 25% on cost

Government grants
Government grants relating to capital expenditure are recognised initially as deferred income and then released to the income statement as other income over the period which the grant the asset it relates to is being depreciated.

Investments in associates
Fixed asset investments, being interests in associate undertakings and joint ventures are included at cost.

Investment property
Investment properties are included in the balance sheet at most recent estimated fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


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ELETE DESIGN LIMITED (REGISTERED NUMBER: 01027900)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates an auto enrolment pension scheme and also pays into a directors personal pension. Contributions payable to the pension scheme are charged to the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 29 February 2024 - 79,308 79,308
Additions - 554 554
Reclassification/transfer 188,560 - 188,560
At 28 February 2025 188,560 79,862 268,422
DEPRECIATION
At 29 February 2024 - 70,234 70,234
Charge for year 49,010 5,269 54,279
At 28 February 2025 49,010 75,503 124,513
NET BOOK VALUE
At 28 February 2025 139,550 4,359 143,909
At 28 February 2024 - 9,074 9,074

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ELETE DESIGN LIMITED (REGISTERED NUMBER: 01027900)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


4. TANGIBLE FIXED ASSETS - continued

During the year, the cost of the company's trading public house previously included within investment properties was reclassified and transferred to freehold land and buildings. Historic depreciation from the year of original purchase amounting to £45,240 was also charged during the year.

5. FIXED ASSET INVESTMENTS
Interest in
joint Interest in
venture associate Totals
£ £ £
COST
At 29 February 2024
and 28 February 2025 50 20,546 20,596
NET BOOK VALUE
At 28 February 2025 50 20,546 20,596
At 28 February 2024 50 20,546 20,596

6. INVESTMENT PROPERTIES
Total
£
FAIR VALUE
At 29 February 2024 5,960,715
Additions 322,061
Disposals (530,000 )
Reclassification/transfer (188,560 )
At 28 February 2025 5,564,216
NET BOOK VALUE
At 28 February 2025 5,564,216
At 28 February 2024 5,960,715

Fair value at 28 February 2025 is represented by:
£
Valuation in 2005 69,840
Valuation in 2006 94,908
Valuation in 2007 (94,782 )
Valuation in 2010 550,000
Valuation in 2011 (561,105 )
Valuation in 2012 189,177
Valuation in 2019 (88,904 )
Valuation in 2020 99,065
Valuation in 2023 437
Valuation in 2024 405,367
Cost 4,900,213
5,564,216

-6-
ELETE DESIGN LIMITED (REGISTERED NUMBER: 01027900)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


6. INVESTMENT PROPERTIES - continued

If the investment properties had not been revalued they would have been included at the following historical cost:

2025 2024
£ £
Cost 4,900,213 4,902,423

The investment properties were last formally fully revalued on an open market basis by the directors in 2012. The directors are of the opinion that there has not been a material change in the values of the investment properties since (other than the revaluation adjustments required in 2019 and 2020 related to enhancement and improvement work carried out on a particular property and those in 2023 and 2024 to amounts based on sales made or offers received post year end) so the resultant values per the accounts are an appropriate reflection of their fair value at the balance sheet date.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Trade debtors 36,123 23,941
Amounts owed by group undertakings 795,258 76,914
Amounts owed by joint ventures 718,240 712,137
Other debtors 7,605 7,162
1,557,226 820,154

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Trade creditors 21,624 25,022
Amounts owed to group undertakings 102,516 99,734
Taxation and social security 144,887 197,269
Other creditors 71,222 70,975
340,249 393,000

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£ £
Other creditors - 1,028

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ELETE DESIGN LIMITED (REGISTERED NUMBER: 01027900)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025


10. FAIR VALUE RESERVE
Fair value
reserve
£
At 29 February 2024 929,474
Retained earnings transfer
re: investment property
revaluation and deferred tax 91,312
Retained earnings transfer on
sale of investment property (394,289 )

At 28 February 2025 626,497

11. RELATED PARTY DISCLOSURES

Amounts owed by and to group undertakings and joint ventures are on an interest free basis.

During the year, consultancy fees totalling £17,500 (2024 - £nil) were paid to a company connected to the individual owners and beneficiaries of the ultimate controlling party.

During the year, management fees totalling £31,017 (2024 - £nil) and £60,000 (2024 - £nil) were paid to a company owned and controlled by one of the directors and a fellow connected group company respectively.

12. ULTIMATE CONTROLLING PARTY

The Ultimate Controlling Party is P & A Holdings Limited, a company registered in the Channel Islands

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