Elemental CoSec Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07707780 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Elemental CoSec Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N Lindsay

D Patel

T Latham

REGISTERED OFFICE:

27 Old Gloucester Street

London

WC1N 3AX

REGISTERED NUMBER:

07707780 (England and Wales)

ACCOUNTANTS:

Elemental CoSec Limited

27 Old Gloucester Street

London

WC1N 3AX

FIXED ASSETS

Intangible assets

4

2,452

-

Tangible assets

5

5,766

5,684

Investments

6

2

2

8,220

5,686

CURRENT ASSETS

Stocks

1

1

Debtors

7

469,438

445,541

Cash at bank

361,398

234,656

830,837

680,198

CREDITORS

Amounts falling due within one year

8

478,909

368,910

NET CURRENT ASSETS

351,928

311,288

TOTAL ASSETS LESS CURRENT LIABILITIES

360,148

316,974

CREDITORS

Amounts falling due after more than one year

9

1,098

1,083

NET ASSETS

359,050

315,891

CAPITAL AND RESERVES

Called up share capital

30

30

Retained earnings

359,020

315,861

359,050

315,891

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 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 Board of Directors and authorised for issue on 9 September 2020 and were signed on its behalf by:

D Patel - Director

1.	STATUTORY INFORMATION

Elemental CoSec 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102

'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose

related party transactions with wholly owned subsidiaries within the group.

Turnover

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

discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

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 - 3 years

Office equipment - 5 years

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

Hire purchase and leasing commitments

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 year was 16 (2019 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

2,452

At 31 March 2020

2,452

NET BOOK VALUE

At 31 March 2020

2,452

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

11,638

Additions

3,693

At 31 March 2020

15,331

DEPRECIATION

At 1 April 2019

5,954

Charge for year

3,611

At 31 March 2020

9,565

NET BOOK VALUE

At 31 March 2020

5,766

At 31 March 2019

5,684

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2019

and 31 March 2020

2

NET BOOK VALUE

At 31 March 2020

2

At 31 March 2019

2

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

468,063

434,287

Other debtors

1,375

11,254

469,438

445,541

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

13,956

10,264

Taxation and social security

336,299

246,920

Other creditors

128,654

111,726

478,909

368,910

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Taxation and social security

1,095

1,080

Other creditors

3

3

1,098

1,083