Elevate SM Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08182123 (England and Wales)

Financial Statements for the Year Ended 31 August 2020

for

Elevate SM Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr L C Warman

REGISTERED OFFICE:

c/o Minshall & Co

Bridge House

London Road

Nantwich

Cheshire

CW5 7JX

REGISTERED NUMBER:

08182123 (England and Wales)

ACCOUNTANTS:

Minshall & Co

Bridge House

London Road

Nantwich

Cheshire

CW5 7JX

FIXED ASSETS

Tangible assets

4

1,066

402

CURRENT ASSETS

Cash at bank

59,496

71,464

CREDITORS

Amounts falling due within one year

5

19,232

26,610

NET CURRENT ASSETS

40,264

44,854

TOTAL ASSETS LESS CURRENT LIABILITIES

41,330

45,256

CAPITAL AND RESERVES

Called up share capital

7

7

Retained earnings

41,323

45,249

SHAREHOLDERS' FUNDS

41,330

45,256

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 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 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 director and authorised for issue on 30 November 2020 and were signed by:

Mr L C Warman - Director

1.	STATUTORY INFORMATION

Elevate SM 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. 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.

Computer equipment

-

40% on reducing balance

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 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 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.

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 year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 September 2019

337

3,416

3,753

Additions

-

1,377

1,377

At 31 August 2020

337

4,793

5,130

DEPRECIATION

At 1 September 2019

216

3,135

3,351

Charge for year

49

664

713

At 31 August 2020

265

3,799

4,064

NET BOOK VALUE

At 31 August 2020

72

994

1,066

At 31 August 2019

121

281

402

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.20

31.8.19

£

£

Trade creditors

(1

)

-

Taxation and social security

19,233

26,610

19,232

26,610