Elitewilde Holdings Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 04468086 (England and Wales)

ELITEWILDE HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

G J M Durrant

B A I Durrant

SECRETARY:

Mrs K M Durrant

REGISTERED OFFICE:

2 Victoria Road

Harpenden

Hertfordshire

AL5 4EA

REGISTERED NUMBER:

04468086 (England and Wales)

ACCOUNTANTS:

Miller & Co

Chartered Accountants

2 Victoria Road

Harpenden

Hertfordshire

AL5 4EA

FIXED ASSETS

Investments

5

1

-

CURRENT ASSETS

Debtors

6

100

100

CREDITORS

Amounts falling due within one year

7

1

-

NET CURRENT ASSETS

99

100

TOTAL ASSETS LESS CURRENT LIABILITIES

100

100

CAPITAL AND RESERVES

Called up share capital

100

100

SHAREHOLDERS' FUNDS

100

100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 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 27 April 2023 and were signed on its behalf by:

G J M Durrant - Director

1.	STATUTORY INFORMATION

Elitewilde Holdings 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, rounded to the nearest pound.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Elitewilde Holdings 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.

Investments in subsidiaries

Investments in subsidiaries are measured at cost less accumulated impairment.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors and other debtors and creditors and loans from banks, other third parties and related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting date for evidence of impairment. If evidence of impairment is found then an impairment loss is recognized in the Statement of Comprehensive Income.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Dividends

Equity dividends are recognised when they become legally payable. Interim dividends are recognised when paid and final dividends are recognised when approved by the shareholders at an Annual General Meeting.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 August 2021

16,232

Additions

1

At 31 July 2022

16,233

PROVISIONS

At 1 August 2021

and 31 July 2022

16,232

NET BOOK VALUE

At 31 July 2022

1

At 31 July 2021

-

The following were subsidiary undertakings of the company:

Name Country of Class of Holding Principal Activity

Incorporation Shares

Universal Safety England Ordinary 100% Health & safety consultants

Consultants Ltd

USCUK Ltd England Ordinary 100% Property Investment

Salveo Ltd England Ordinary 100% Online sales of Health & safety

products and training

In June 2020 Salveo Limited went into Insolvent Liquidation. Consequently a loan to Salveo Limited from Universal Safety Consultants Limited became irrecoverable resulting in the above impairment provision against the cost of investment in subsidiary companies.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

100

100

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other creditors

1

-

8.	RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £33,414 (2021: £33,414) from Universal Safety Consultants Limited a subsidiary company. A full provision has been made against this debt as the subsidiary company does not currently have the funds to repay the loan. The balance outstanding is unsecured, interest free and repayable on demand.

The company received an advance of £1 from the directors during the year.

During the year the company acquired 100% of the share capital of USCUK Limited at a cost of £1 from a director.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is G J M Durrant.