Elite Complete Build Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 10173481 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 11 MAY 2016 TO 31 MAY 2017

FOR

ELITE COMPLETE BUILD LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A M Lockhart

REGISTERED OFFICE:

42 Albert Road

Bexley

Kent

DA5 1NN

REGISTERED NUMBER:

10173481 (England and Wales)

ACCOUNTANTS:

Blue Rocket Accounting

Chartered Tax Advisers and Accountants

8 Twisleton Court

Priory Hill

Dartford

Kent

DA1 2EN

FIXED ASSETS

Tangible assets

4

27,774

CURRENT ASSETS

Debtors

5

34,803

Cash at bank

1,956

36,759

CREDITORS

Amounts falling due within one year

6

43,690

NET CURRENT LIABILITIES

(6,931

)

TOTAL ASSETS LESS CURRENT LIABILITIES

20,843

CREDITORS

Amounts falling due after more than one year

7

20,786

NET ASSETS

57

CAPITAL AND RESERVES

Called up share capital

8

1

Retained earnings

9

56

SHAREHOLDERS' FUNDS

57

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 4 December 2017 and were signed by:

A M Lockhart - Director

1.	STATUTORY INFORMATION

Elite Complete Build Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Taxation

Taxation for the period 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 balance sheet date.

Deferred tax

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

balance sheet 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 period 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

Additions

146

104

33,068

33,318

At 31 May 2017

146

104

33,068

33,318

DEPRECIATION

Charge for period

19

14

5,511

5,544

At 31 May 2017

19

14

5,511

5,544

NET BOOK VALUE

At 31 May 2017

127

90

27,557

27,774

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

33,068

At 31 May 2017

33,068

DEPRECIATION

Charge for period

5,511

At 31 May 2017

5,511

NET BOOK VALUE

At 31 May 2017

27,557

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

31,642

VAT

2,787

Prepayments

374

34,803

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

3,032

Hire purchase contracts

6,373

Trade creditors

8,773

Social security and other taxes

3,772

Directors' current accounts

21,740

43,690

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Hire purchase contracts

20,786

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

1

Ordinary

1

1

1 Ordinary share of 1 was allotted and fully paid for cash at par during the period.

9.

RESERVES

Retained

earnings

£

Profit for the period

17,376

Dividends

(17,320

)

At 31 May 2017

56

10.	RELATED PARTY DISCLOSURES

During the period, total dividends of £17,320 were paid to the director .

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A M Lockhart.