ELGABUILD LTD - Accounts

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Registered Number: 10636266

England and Wales

ELGABUILD LTD

Abridged Accounts

Period of accounts

Start date: 01 March 2022

End date: 28 February 2023

ELGABUILD LTD
Contents Page
For the year ended 28 February 2023

Statement of financial position	1
Notes to the financial statements	2

ELGABUILD LTD
Statement of Financial Position
As at 28 February 2023

	Notes	2023 £	2022 £
Fixed assets
Tangible fixed assets	4	3,048	3,586
		3,048	3,586
Current assets
Stocks		30,500	0
Debtors		11,167	68,974
Cash at bank and in hand		1,720	3,129
		43,387	72,103
Creditors: amount falling due within one year		(31,556)	(30,956)
Net current assets		11,831	41,147

Total assets less current liabilities		14,879	44,733
Creditors: amount falling due after more than one year		(50,000)	(50,000)
Net liabilities		(35,121)	(5,267)

Capital and reserves
Called up share capital		100	100
Profit and loss account		(35,221)	(5,367)
Shareholder's funds		(35,121)	(5,267)

For the accounting year the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved by the director on 28 November 2023 and were signed by:

-------------------------------
Hossam Eldin Mohamed Elgarhy
Director

ELGABUILD LTD
Notes to the Abridged Financial Statements
For the year ended 28 February 2023

General Information

ELGABUILD LTD is a private company, limited by shares, registered in England and Wales, registration number 10636266, registration address Ground Floor, 48 White Horse Road, London, E1 0ND.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Fixtures and Fittings	15% Reducing Balance
Computer Equipment	15% Reducing Balance

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Staff Costs

	2023 £	2022 £
Wages and salaries	6,800	0
	6,800	0

Average number of employees during the year	Number	Number
Administration	1	1
Sales	1	0
	2	1

3.	Average number of employees Average number of employees during the year was 2 (2022 : 1).

Tangible fixed assets

Cost or valuation	Fixtures and Fittings	Computer Equipment	Total
	£	£	£
At 01 March 2022	2,426	3,384	5,810
Additions	-	-	-
Disposals	-	-	-
At 28 February 2023	2,426	3,384	5,810
Depreciation
At 01 March 2022	-	2,224	2,224
Charge for year	-	538	538
On disposals	-	-	-
At 28 February 2023	-	2,762	2,762
Net book values
Closing balance as at 28 February 2023	2,426	622	3,048
Opening balance as at 01 March 2022	1,753	1,833	3,586