Elite Control Systems Limited Filleted accounts for Companies House (small and micro)
Elite Control Systems Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
SC138404
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For the year ended |
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Abridged Financial Statements |
Year ended 31 May 2023
Contents |
Page |
Abridged statement of financial position |
1 |
Notes to the abridged financial statements |
3 |
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Abridged Statement of Financial Position |
2023 |
2022 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Investments |
6 |
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Current assets
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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Net current (liabilities)/assets |
(
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
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Provisions |
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Net assets |
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Abridged Statement of Financial Position (continued) |
2023 |
2022 |
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Note |
£ |
£ |
£ |
Capital and reserves
Called up share capital |
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Other reserves |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
5 December 2023
, and are signed on behalf of the board by:
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Director |
Company registration number:
SC138404
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Notes to the Abridged Financial Statements |
Year ended 31 May 2023
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Elite House, Starlaw Business Park, Livingston, West Lothian, EH54 8SF.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Consolidation
Revenue recognition
Taxation
Foreign currencies
Operating leases
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property |
- |
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Plant and equipment |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
Stocks
Finance leases and hire purchase contracts
Government grants
Financial instruments
Defined contribution pension plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
25
(2022:
25
).
5.
Tangible assets
£ |
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Cost |
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At 1 June 2022 |
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Additions |
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Disposals |
(
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--------- |
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At 31 May 2023 |
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Depreciation |
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At 1 June 2022 |
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Charge for the year |
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Disposals |
(
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--------- |
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At 31 May 2023 |
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Carrying amount |
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At 31 May 2023 |
543,464 |
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At 31 May 2022 |
576,006 |
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6.
Investments
£ |
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Cost |
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At 1 June 2022 and 31 May 2023 |
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Impairment |
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At 1 June 2022 and 31 May 2023 |
– |
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Carrying amount |
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At 31 May 2023 |
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At 31 May 2022 |
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7.
Charges on assets
Creditors include bank loans, overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £344,631 (2022 - £309,046).
8.
Operating leases
9.
Directors' advances, credits and guarantees
10.
Related party transactions
Dividends totalling £60,000 (2022- £70,000) were paid to the directors of the company in the year to 31 May 2023. Sales were made to
Elite Systems International
Limited during the year totalling £54,152 (2022 - £55,061). Dividends of £9,000 (2022 - £nil) were also received from this company in the year. At the balance sheet date, the amount due to the company from Elite Systems International was £nil (2022 - £nil) and the amount due by the company to Elite Systems International was £21,000 (2022 - £nil).