Element Development Management Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11370074 (England and Wales)

Unaudited Financial Statements

for the Period 18 May 2018 to 31 March 2019

for

ELEMENT DEVELOPMENT MANAGEMENT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S R Holme

REGISTERED OFFICE:

123 Dobcroft Road

Sheffield

South Yorkshire

S7 2LT

REGISTERED NUMBER:

11370074 (England and Wales)

ACCOUNTANTS:

S Burgess & Co Ltd

11 Slayleigh Avenue

Sheffield

South Yorkshire

S10 3RA

FIXED ASSETS

Tangible assets

4

300

CURRENT ASSETS

Debtors

5

3,115

Cash at bank

23,831

26,946

CREDITORS

Amounts falling due within one year

6

11,907

NET CURRENT ASSETS

15,039

TOTAL ASSETS LESS CURRENT LIABILITIES

15,339

CAPITAL AND RESERVES

Called up share capital

7

1

Retained earnings

15,338

SHAREHOLDERS' FUNDS

15,339

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2019 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 on 1 November 2019 and were signed by:

S R Holme - Director

1.	STATUTORY INFORMATION

Element Development Management 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 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.

The significant accounting policies applied in the preparation of these financial statements are set out

below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

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

Turnover is recognised on the completion of each contract assignment, in accordance with the

contract terms, and by reference to the valuation of time spent.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

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.

Work in progress

Income on work in progress contracts is recognised by reference to the valuation of the time spent on

each contract, at the period end.

Profit on work in progress contracts is recognised when the outcome of the contracts can be assessed

with reasonable certainty, and is that amount which is estimated to reflect fairly the profit arising up

to the year end. Profit on work in progress contracts is reflected in the profit and loss account as the

difference between the reported turnover, and the related costs.

Debtors and creditors due within one year

Debtors and creditors with no stated interest rate, which are due within one year, are stated at the

transaction price. Any losses arising from impairment are recognised in the statement of

comprehensive income within administrative expenses.

Impairment

At each balance sheet date, assets are reviewed to determine whether there is any indication that any

of the individual assets have suffered an impairment. If such indication exists, the recoverable amount

of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount.

Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the

statement of comprehensive income.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

Additions

375

At 31 March 2019

375

DEPRECIATION

Charge for period

75

At 31 March 2019

75

NET BOOK VALUE

At 31 March 2019

300

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts recoverable on contract

3,115

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Corporation tax

9,289

Directors' current accounts

818

Accrued expenses

1,800

11,907

7.	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.