Company Registration No. 04758243 (England and Wales)
Elphian Limited
Unaudited accounts
for the year ended 31 May 2020
Elphian Limited
Unaudited accounts
Contents
Elphian Limited
Company Information
for the year ended 31 May 2020
Directors
E Hamilton
A Mitchell
Company Number
04758243 (England and Wales)
Registered Office
2 PAUL GARDENS
CROYDON
SURREY
CR0 5QL
Accountants
Milton & Co
International Accountants
2 Paul Gardens
Croydon
Surrey
CR0 5QL
Elphian Limited
Statement of financial position
as at 31 May 2020
Tangible assets
339,049
339,231
Cash at bank and in hand
59,151
60,770
Creditors: amounts falling due within one year
(3,345)
(1,200)
Net current assets
55,806
59,570
Total assets less current liabilities
394,855
398,801
Creditors: amounts falling due after more than one year
(139,750)
(142,671)
Net assets
255,105
256,130
Called up share capital
2
2
Revaluation reserve
280,000
280,000
Profit and loss account
(24,897)
(23,872)
Shareholders' funds
255,105
256,130
For the year ending 31 May 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2020 and were signed on its behalf by
E Hamilton
Director
Company Registration No. 04758243
Elphian Limited
Notes to the Accounts
for the year ended 31 May 2020
Elphian Limited is a private company, limited by shares, registered in England and Wales, registration number 04758243. The registered office is 2 PAUL GARDENS, CROYDON, SURREY, CR0 5QL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing cost basis
Turnover is measured as the rent received for property that is owned by the Company at the fair value excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rent is recognised when the rents have been received from the tenants. All rents are due as per the AST agreements or commercial agreements.
The Directors do not recommend the payment of any Dividends. (2019 - nil)
The principal activity of the Company is that of property investment and lettings.
Elphian Limited
Notes to the Accounts
for the year ended 31 May 2020
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 June 2019
338,500
2,310
340,810
At 31 May 2020
338,500
2,310
340,810
At 1 June 2019
-
1,579
1,579
Charge for the year
-
182
182
At 31 May 2020
-
1,761
1,761
At 31 May 2020
338,500
549
339,049
At 31 May 2019
338,500
731
339,231
5
Creditors: amounts falling due within one year
2020
2019
6
Creditors: amounts falling due after more than one year
2020
2019
Bank loans
139,750
142,671
Allotted, called up and fully paid:
1 Ordinary shares - E Hamilton of £1 each
1
1
1 Ordinary shares - A Mitchell of £1 each
1
1
8
Average number of employees
During the year the average number of employees was 0 (2019: 0).
