Elements Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05093027 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

ELEMENTS MANAGEMENT LIMITED

Page

Company information

1

Report of the director

2

Balance sheet

3

Statement of changes in equity

5

Notes to the financial statements

6

Chartered accountants' report

9

DIRECTOR:

Ms M A B Newton

REGISTERED OFFICE:

Ibex House

162-164 Arthur Road

Wimbledon Park

London

SW19 8AQ

BUSINESS ADDRESS:

Brambles

North Lane

South Harting

West Sussex

GU31 5PZ

REGISTERED NUMBER:

05093027 (England and Wales)

ACCOUNTANTS:

Z group

Ibex House

162-164 Arthur Road

Wimbledon Park

London

SW19 8AQ

The director presents her report with the financial statements of the company for the year ended 31 March 2019.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the provision of photography and creative

services.

DIRECTOR

Ms M A B Newton held office during the whole of the period from 1 April 2018 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to

small companies.

ON BEHALF OF THE BOARD:

Ms M A B Newton - Director

28 November 2019

FIXED ASSETS

Tangible assets

4

40,277

32,887

CURRENT ASSETS

Debtors

5

27,628

117,917

Cash at bank

23,562

90,992

51,190

208,909

CREDITORS

Amounts falling due within one year

6

8,487

108,177

NET CURRENT ASSETS

42,703

100,732

TOTAL ASSETS LESS CURRENT LIABILITIES

82,980

133,619

CREDITORS

Amounts falling due after more than one year

7

(8,917

)

-

PROVISIONS FOR LIABILITIES

(7,653

)

(6,249

)

NET ASSETS

66,410

127,370

CAPITAL AND RESERVES

Called up share capital

100

100

Capital redemption reserve

965

965

Retained earnings

65,345

126,305

SHAREHOLDERS' FUNDS

66,410

127,370

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 28 November 2019 and were signed by:

Ms M A B Newton - Director

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 April 2017

1,065

97,860

30,000

-

128,925

Changes in equity

Issue of share capital

(965

)

-

(30,000

)

-

(30,965

)

Dividends

-

(96,220

)

-

-

(96,220

)

Total comprehensive income

-

124,665

-

965

125,630

Balance at 31 March 2018

100

126,305

-

965

127,370

Changes in equity

Dividends

-

(36,495

)

-

-

(36,495

)

Total comprehensive income

-

(24,465

)

-

-

(24,465

)

Balance at 31 March 2019

100

65,345

-

965

66,410

1.	STATUTORY INFORMATION

Elements Management 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

20% on cost

Computer equipment

-

25% 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2018

3,231

36,446

16,425

56,102

Additions

-

19,230

-

19,230

At 31 March 2019

3,231

55,676

16,425

75,332

DEPRECIATION

At 1 April 2018

3,111

11,223

8,881

23,215

Charge for year

30

9,924

1,886

11,840

At 31 March 2019

3,141

21,147

10,767

35,055

NET BOOK VALUE

At 31 March 2019

90

34,529

5,658

40,277

At 31 March 2018

120

25,223

7,544

32,887

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

Motor

vehicles

£

COST

Additions

19,230

At 31 March 2019

19,230

DEPRECIATION

Charge for year

2,634

At 31 March 2019

2,634

NET BOOK VALUE

At 31 March 2019

16,596

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

-

100,515

Other debtors

15,852

-

Corporation tax recoverable

6,868

-

VAT

-

8,820

Prepayments and accrued income

4,908

8,582

27,628

117,917

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Hire purchase contracts

3,822

-

Trade creditors

1,852

39,737

Tax

-

32,289

Social security and other taxes

1,146

414

VAT

555

-

Company Credit Card

147

1,563

Directors' current accounts

115

32,834

Accrued expenses

850

1,340

8,487

108,177

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Hire purchase contracts

8,917

-

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

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to

file a Balance sheet. Readers are cautioned that the Income statement and certain other primary statements and

the Report of the director are not required to be filed with the Registrar of Companies.

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

financial statements of Elements Management Limited for the year ended 31 March 2019 which comprise the Income

statement, Balance sheet, Statement of changes in equity 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Elements Management Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Elements Management Limited and state those matters that we have agreed to state to the director of Elements Management Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elements Management Limited and its director for our work or for this report.

It is your duty to ensure that Elements Management 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 loss of Elements Management Limited. You consider that Elements Management 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 Elements Management 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.

Z group

Ibex House

162-164 Arthur Road

Wimbledon Park

London

SW19 8AQ

28 November 2019