ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

ELITE CAPITAL MANAGEMENT LIMITED - Company Information

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Caseware UK (AP4) 2020.0.247 2020.0.247 2021-03-312021-03-31true2020-04-01falseThe principal activity of the company contunued to be that of Consultancy services.11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07976202 2020-04-01 2021-03-31 07976202 2019-04-01 2020-03-31 07976202 2021-03-31 07976202 2020-03-31 07976202 c:Director1 2020-04-01 2021-03-31 07976202 d:Buildings 2021-03-31 07976202 d:Buildings 2020-03-31 07976202 d:LandBuildings 2021-03-31 07976202 d:LandBuildings 2020-03-31 07976202 d:CurrentFinancialInstruments 2021-03-31 07976202 d:CurrentFinancialInstruments 2020-03-31 07976202 d:Non-currentFinancialInstruments 2021-03-31 07976202 d:Non-currentFinancialInstruments 2020-03-31 07976202 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 07976202 d:CurrentFinancialInstruments d:WithinOneYear 2020-03-31 07976202 d:Non-currentFinancialInstruments d:AfterOneYear 2021-03-31 07976202 d:Non-currentFinancialInstruments d:AfterOneYear 2020-03-31 07976202 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-03-31 07976202 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2020-03-31 07976202 d:ShareCapital 2021-03-31 07976202 d:ShareCapital 2020-03-31 07976202 d:RetainedEarningsAccumulatedLosses 2021-03-31 07976202 d:RetainedEarningsAccumulatedLosses 2020-03-31 07976202 c:OrdinaryShareClass1 2020-04-01 2021-03-31 07976202 c:OrdinaryShareClass1 2021-03-31 07976202 c:OrdinaryShareClass1 2020-03-31 07976202 c:OrdinaryShareClass2 2020-04-01 2021-03-31 07976202 c:OrdinaryShareClass2 2021-03-31 07976202 c:OrdinaryShareClass2 2020-03-31 07976202 c:FRS102 2020-04-01 2021-03-31 07976202 c:AuditExempt-NoAccountantsReport 2020-04-01 2021-03-31 07976202 c:FullAccounts 2020-04-01 2021-03-31 07976202 c:PrivateLimitedCompanyLtd 2020-04-01 2021-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 07976202









ELITE CAPITAL MANAGEMENT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2021
 
ELITE CAPITAL MANAGEMENT LIMITED
REGISTERED NUMBER: 07976202

BALANCE SHEET
AS AT 31 MARCH 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
60,709
60,709

  
60,709
60,709

Current assets
  

Cash at bank and in hand
 5 
14,893
16,441

  
14,893
16,441

Creditors: amounts falling due within one year
 6 
(21,622)
(21,622)

Net current liabilities
  
 
 
(6,729)
 
 
(5,181)

Total assets less current liabilities
  
53,980
55,528

Creditors: amounts falling due after more than one year
 7 
(61,700)
(61,700)

  

Net liabilities
  
(7,720)
(6,172)


Capital and reserves
  

Called up share capital 
 9 
20
20

Profit and loss account
  
(7,740)
(6,192)

  
(7,720)
(6,172)


Page 1
 
ELITE CAPITAL MANAGEMENT LIMITED
REGISTERED NUMBER: 07976202
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2021

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N Confino
Director

Date: 5 January 2022

The notes on pages 3 to 5 form part of these financial statements.

Page 2
 
ELITE CAPITAL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

1.


General information

Elite Capital Management Limited is a private company limited by shares, incorporated in England & Wales (registered number: 07976202). 
The registered address of the company is 64 New Cavendish Street, London, W1G 8TB.
The principal activity of the company contunued to be that of consultancy services.
The financial statements are presented in Sterling, which is the functional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. Given that the company is in a net deficit position the director has obtained assurances from its shareholder to continue to provide adequate funds to meets its obligations, and not to demand repayment of any funds due to them, until the company is in a financial position to do so. As a result, the director considers it appropriate to prepare the financial statements on a going concern basis.
The financial statements do not reflect any adjustments that would result from a withdrawal of financial support by the director and shareholder.

 
2.3

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).

Page 3
 
ELITE CAPITAL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

4.


Tangible fixed assets





Freehold property

£



Cost or valuation


At 1 April 2020
60,709



At 31 March 2021

60,709






Net book value



At 31 March 2021
60,709



At 31 March 2020
60,709




The net book value of land and buildings may be further analysed as follows:


2021
2020
£
£

Freehold property
60,709
60,709

60,709
60,709



5.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
14,893
16,441

14,893
16,441


Page 4
 
ELITE CAPITAL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

6.


Creditors: Amounts falling due within one year

2021
2020
£
£

Other creditors
20,622
20,622

Accruals and deferred income
1,000
1,000

21,622
21,622



7.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Other loans
61,700
61,700

61,700
61,700



8.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£


Amounts falling due 1-2 years

Other loans
61,700
61,700


61,700
61,700



61,700
61,700



9.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



10 (2020 - 10) A Ordinary share shares of £1.00 each
10
10
10 (2020 - 10) B Ordinary share shares of £1.00 each
10
10

20

20


Page 5
 
ELITE CAPITAL MANAGEMENT LIMITED
 
 
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