Elements (Bude) Limited Filleted accounts for Companies House (small and micro)
Elements (Bude) Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
07924873
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For the period ended |
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R E Jones and Co.
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Abridged Financial Statements |
Year ended 30 April 2020
Contents |
Page |
Officers and professional advisers |
1 |
Abridged statement of financial position |
2 |
Notes to the abridged financial statements |
4 |
R E Jones and Co.
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Officers and Professional Advisers |
The board of directors |
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Registered office |
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United Kingdom |
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Accountants |
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Chartered accountants |
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132 Burnt Ash Road |
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Lee |
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London |
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SE12 8PU |
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Bankers |
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Peterborough Church Street |
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Leicestershire |
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LE87 2BB |
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R E Jones and Co.
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Abridged Statement of Financial Position |
2020 |
2019 |
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Note |
£ |
£ |
£ |
Fixed assets
Intangible assets |
5 |
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Tangible assets |
6 |
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Current assets
Stocks |
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Debtors |
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Cash at bank and in hand |
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---------- |
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Creditors: amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
(
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Creditors: amounts falling due after more than one year |
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Net liabilities |
(
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(
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R E Jones and Co.
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Abridged Statement of Financial Position (continued) |
2020 |
2019 |
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Note |
£ |
£ |
£ |
Capital and reserves
Called up share capital |
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Profit and loss account |
(
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(
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---------- |
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Shareholders deficit |
(
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(
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In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
28 April 2021
, and are signed on behalf of the board by:
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Director |
Company registration number:
07924873
R E Jones and Co.
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Notes to the Abridged Financial Statements |
Year ended 30 April 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 132 Burnt Ash Road, Lee, London, SE12 8PU, United Kingdom.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Revenue recognition
Income tax
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill |
- |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leashold property |
- |
Length of lease
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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Office equipment |
- |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Finance leases and hire purchase contracts
Government grants
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
24
(2019:
43
).
5.
Intangible assets
£ |
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Cost |
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At 1 May 2019 and 30 April 2020 |
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---------- |
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Amortisation |
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At 1 May 2019 |
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Charge for the year |
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---------- |
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At 30 April 2020 |
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Carrying amount |
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At 30 April 2020 |
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---------- |
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At 30 April 2019 |
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6.
Tangible assets
£ |
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Cost |
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At 1 May 2019 |
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Additions |
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Disposals |
(
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---------- |
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At 30 April 2020 |
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Depreciation |
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At 1 May 2019 |
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Charge for the year |
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Disposals |
(
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---------- |
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At 30 April 2020 |
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Carrying amount |
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At 30 April 2020 |
245,378 |
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At 30 April 2019 |
307,591 |
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7.
Finance leases and hire purchase contracts
The total future minimum lease payments under finance leases and hire purchase contracts are as follows:
2020 |
2019 |
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£ |
£ |
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Not later than 1 year |
– |
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------- |
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8.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2020 |
2019 |
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£ |
£ |
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Not later than 1 year |
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Later than 1 year and not later than 5 years |
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9.
Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2020 |
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Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
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£ |
£ |
£ |
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– |
– |
– |
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2019 |
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Balance brought forward |
Advances/ (credits) to the directors |
Balance outstanding |
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£ |
£ |
£ |
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(
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– |
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--------- |
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10.
Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under FRS102.