Company Registration No. 13070648 (England and Wales)
Elegpro Ltd
Unaudited accounts
for the period from 1 January 2022 to 31 March 2023
Elegpro Ltd
Company Information
for the period from 1 January 2022 to 31 March 2023
Director
Shiv Prakash Soni
Company Number
13070648 (England and Wales)
Registered Office
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ
United Kingdom
Accountants
GCA (Scotland) Ltd
18 Clermiston Road North
Edinburgh
EH4 7BL
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Elegpro Ltd
for the period from 1 January 2022 to 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Elegpro Ltd for the period from
1 January 2022 to
31 March 2023 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-january-2017.
This report is made solely to the Board of Directors of Elegpro Ltd, as a body, in accordance with the terms of our engagement letter dated 21 March 2022. Our work has been undertaken solely to prepare for your approval the accounts of Elegpro Ltd and state those matters that we have agreed to state to the Board of Directors of Elegpro Ltd, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-january-2017. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elegpro Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Elegpro Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Elegpro Ltd. You consider that Elegpro Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Elegpro Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
GCA (Scotland) Ltd
Chartered Accountants
18 Clermiston Road North
Edinburgh
EH4 7BL
4 September 2023
Elegpro Ltd
Statement of financial position
as at 31 March 2023
Investment property
166,361
166,361
Cash at bank and in hand
134,265
86,359
Creditors: amounts falling due within one year
(158,391)
(177,666)
Net current assets/(liabilities)
34,073
(31,927)
Total assets less current liabilities
201,023
134,434
Creditors: amounts falling due after more than one year
(94,117)
(97,735)
Called up share capital
100
100
Profit and loss account
106,806
36,599
Shareholders' funds
106,906
36,699
For the period ending 31 March 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 4 September 2023 and were signed on its behalf by
Shiv Prakash Soni
Director
Company Registration No. 13070648
Elegpro Ltd
Notes to the Accounts
for the period from 1 January 2022 to 31 March 2023
Elegpro Ltd is a private company, limited by shares, registered in England and Wales, registration number 13070648. The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, United Kingdom.
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 period, 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
3 Years
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Elegpro Ltd
Notes to the Accounts
for the period from 1 January 2022 to 31 March 2023
4
Tangible fixed assets
Computer equipment
Fair value at 1 January 2022
166,361
The directors have valued the investment property at fair value.
Amounts falling due within one year
Accrued income and prepayments
58,199
49,596
7
Creditors: amounts falling due within one year
2023
2021
Bank loans and overdrafts
2,640
2,640
Taxes and social security
17,206
8,585
Loans from directors
2,141
-
Deferred income
57,731
65,165
The bank loan of £2,640 is secured against the investment property.
Elegpro Ltd
Notes to the Accounts
for the period from 1 January 2022 to 31 March 2023
8
Creditors: amounts falling due after more than one year
2023
2021
Aggregate of amounts that fall due for payment after five years
83,556
86,196
The bank loan of £94,117 is secured against the investment property.
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
DIrectors Loan
9,784
1,060
12,985
(2,141)
9,784
1,060
12,985
(2,141)
At the start of the year the director owed £9,784 to the company. During the year the company advanced £1,060 to the director. £12,985 was repaid by the director during the year. At the end of the year the company owes £2,141 to the director.
10
Average number of employees
During the period the average number of employees was 0 (2021: 0).