ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

ELITE CAPITAL MANAGEMENT LIMITED - Company Information

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Caseware UK (AP4) 2022.0.179 2022.0.179 2022-03-312022-03-312021-04-01truetrueElite 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.11true 07976202 2021-04-01 2022-03-31 07976202 2020-04-01 2021-03-31 07976202 2022-03-31 07976202 2021-03-31 07976202 c:Director1 2021-04-01 2022-03-31 07976202 d:Buildings 2022-03-31 07976202 d:Buildings 2021-03-31 07976202 d:LandBuildings 2022-03-31 07976202 d:LandBuildings 2021-03-31 07976202 d:CurrentFinancialInstruments 2022-03-31 07976202 d:CurrentFinancialInstruments 2021-03-31 07976202 d:Non-currentFinancialInstruments 2022-03-31 07976202 d:Non-currentFinancialInstruments 2021-03-31 07976202 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07976202 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 07976202 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 07976202 d:Non-currentFinancialInstruments d:AfterOneYear 2021-03-31 07976202 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 07976202 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-03-31 07976202 d:ShareCapital 2022-03-31 07976202 d:ShareCapital 2021-03-31 07976202 d:RetainedEarningsAccumulatedLosses 2022-03-31 07976202 d:RetainedEarningsAccumulatedLosses 2021-03-31 07976202 c:EntityNoLongerTradingButTradedInPast 2021-04-01 2022-03-31 07976202 c:FRS102 2021-04-01 2022-03-31 07976202 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 07976202 c:FullAccounts 2021-04-01 2022-03-31 07976202 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 07976202









ELITE CAPITAL MANAGEMENT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2022
 
ELITE CAPITAL MANAGEMENT LIMITED
REGISTERED NUMBER: 07976202

BALANCE SHEET
AS AT 31 MARCH 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 3 
60,709
60,709

Investments
 4 
25,437
-

  
86,146
60,709

Current assets
  

Cash at bank and in hand
 5 
57
14,893

  
57
14,893

Creditors: amounts falling due within one year
 6 
(32,809)
(21,622)

Net current liabilities
  
 
 
(32,752)
 
 
(6,729)

Total assets less current liabilities
  
53,394
53,980

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

  

Net liabilities
  
(8,306)
(7,720)


Capital and reserves
  

Called up share capital 
  
20
20

Profit and loss account
  
(8,326)
(7,740)

  
(8,306)
(7,720)


Page 1
 
ELITE CAPITAL MANAGEMENT LIMITED
REGISTERED NUMBER: 07976202
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2022

For the year ended 31 March 2022 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

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 on 30 March 2023.




N Confino
Director

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 2022

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.

 
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.

Page 3
 
ELITE CAPITAL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

3.


Tangible fixed assets





Freehold property

£



Cost or valuation


At 1 April 2021
60,709



At 31 March 2022

60,709






Net book value



At 31 March 2022
60,709



At 31 March 2021
60,709




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


2022
2021
£
£

Freehold property
60,709
60,709

60,709
60,709



4.


Fixed asset investments





Trade investments

£





Additions
25,437





5.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
57
14,893

57
14,893


Page 4
 
ELITE CAPITAL MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Other creditors
31,309
20,622

Accruals and deferred income
1,500
1,000

32,809
21,622



7.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Other loans
61,700
61,700

61,700
61,700



8.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£


Amounts falling due 1-2 years

Other loans
61,700
61,700


61,700
61,700



61,700
61,700


 
Page 5