Elite Engineering (Derby) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 01707997 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 July 2014

for

Elite Engineering (Derby) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

W R Weston

Mrs K A Weston

SECRETARY:

Mrs K A Weston

REGISTERED OFFICE:

Suite 11, Keynes House

Chester Park

Alfreton Road

Derby

DE21 4AS

REGISTERED NUMBER:

01707997 (England and Wales)

ACCOUNTANTS:

R V Hoad & Co

Suite 11, Keynes House

Chester Park

Alfreton Road

Derby

Derbyshire

DE21 4AS

FIXED ASSETS

Tangible assets

2

495

660

Investment property

3

195,600

196,000

196,095

196,660

CURRENT ASSETS

Cash at bank

1,146

-

CREDITORS

Amounts falling due within one year

4

33,073

32,707

NET CURRENT LIABILITIES

(31,927

)

(32,707

)

TOTAL ASSETS LESS CURRENT LIABILITIES

164,168

163,953

PROVISIONS FOR LIABILITIES

99

132

NET ASSETS

164,069

163,821

CAPITAL AND RESERVES

Called up share capital

5

2

2

Revaluation reserve

166,969

166,969

Profit and loss account

(2,902

)

(3,150

)

SHAREHOLDERS' FUNDS

164,069

163,821

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 4 April 2015 and were signed on its behalf by:

W R Weston - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

Deferred tax

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

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2013

and 31 July 2014

3,569

DEPRECIATION

At 1 August 2013

2,909

Charge for year

165

At 31 July 2014

3,074

NET BOOK VALUE

At 31 July 2014

495

At 31 July 2013

660

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 August 2013

and 31 July 2014

200,000

DEPRECIATION

At 1 August 2013

4,000

Charge for year

400

At 31 July 2014

4,400

NET BOOK VALUE

At 31 July 2014

195,600

At 31 July 2013

196,000

4.

CREDITORS

Creditors include an amount of £ 0 (31.7.13 - £ 17,233 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.14

31.7.13

value:

£

£

2

Ordinary

£1

2

2

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Elite Engineering (Derby) Limited for the year ended 31 July 2014 which comprise the Profit and

Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject

to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Elite Engineering (Derby) Limited, as a body, in accordance with

our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of

Elite Engineering (Derby) Limited and state those matters that we have agreed to state to the Board of Directors of Elite

Engineering (Derby) Limited, as a body, in this report in accordance with AAF 2/10 as detailed at

icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone

other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Elite Engineering (Derby) Limited has kept adequate accounting records and to prepare

statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Elite

Engineering (Derby) Limited. You consider that Elite Engineering (Derby) Limited is exempt from the statutory audit

requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Elite Engineering (Derby)

Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

R V Hoad & Co

Suite 11, Keynes House

Chester Park

Alfreton Road

Derby

Derbyshire

DE21 4AS

4 April 2015