Company Registration No. 11713859 (England and Wales)
Elite Property and Tax Specialists Ltd
Unaudited accounts
for the year ended 4 June 2023
Elite Property and Tax Specialists Ltd
Unaudited accounts
Contents
Elite Property and Tax Specialists Ltd
Company Information
for the year ended 4 June 2023
Director
Michael Robert Brown
Company Number
11713859 (England and Wales)
Registered Office
138 Holmesdale Road
South Norwood
London
SE25 6HY
England
Accountants
M A Accountancy Group
Wolfe Mead
Farnham Road
Bordon
Hampshire
GU35 0NH
Elite Property and Tax Specialists Ltd
Statement of financial position
as at 4 June 2023
Cash at bank and in hand
47,777
69,814
Creditors: amounts falling due within one year
(22,762)
(27,636)
Net current assets
25,209
42,345
Total assets less current liabilities
25,981
42,387
Creditors: amounts falling due after more than one year
(4,800)
(7,200)
Provisions for liabilities
Called up share capital
1
1
Profit and loss account
21,033
35,178
Shareholders' funds
21,034
35,179
For the year ending 4 June 2023 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 8 November 2023 and were signed on its behalf by
Michael Robert Brown
Director
Company Registration No. 11713859
Elite Property and Tax Specialists Ltd
Notes to the Accounts
for the year ended 4 June 2023
Elite Property and Tax Specialists Ltd is a private company, limited by shares, registered in England and Wales, registration number 11713859. The registered office is 138 Holmesdale Road, South Norwood, London, SE25 6HY, England.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Computer equipment
25% on cost
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Elite Property and Tax Specialists Ltd
Notes to the Accounts
for the year ended 4 June 2023
4
Tangible fixed assets
Computer equipment
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Amounts falling due within one year
Accrued income and prepayments
-
167
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
2,400
2,400
Taxes and social security
15,506
23,251
Loans from directors
4,056
620
8
Creditors: amounts falling due after more than one year
2023
2022
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).