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 2022

FOR

ELEMENTS MANAGEMENT LIMITED

Page

Company information

1

Report of the director

2

Balance sheet

3

Notes to the financial statements

5

Chartered accountants' report

8

DIRECTOR:

Ms M A B Newton

REGISTERED OFFICE:

Room 405

Highland House

165 The Broadway

London

SW19 1NE

REGISTERED NUMBER:

05093027 (England and Wales)

ACCOUNTANTS:

Z group

Room 405

Highland House

165 The Broadway

London

SW19 1NE

The director presents her report with the financial statements of the company for the year ended 31 March 2022.

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 2021 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

18 May 2022

FIXED ASSETS

Tangible assets

4

-

15,492

CURRENT ASSETS

Debtors

5

-

6,581

Cash at bank

7,350

8,255

7,350

14,836

CREDITORS

Amounts falling due within one year

6

4,312

15,885

NET CURRENT ASSETS/(LIABILITIES)

3,038

(1,049

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,038

14,443

CREDITORS

Amounts falling due after more than one year

7

-

(11,482

)

PROVISIONS FOR LIABILITIES

-

(2,944

)

NET ASSETS

3,038

17

CAPITAL AND RESERVES

Called up share capital

100

100

Capital redemption reserve

965

965

Retained earnings

1,973

(1,048

)

SHAREHOLDERS' FUNDS

3,038

17

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 and authorised for issue on 18 May 2022 and were signed by:

Ms M A B Newton - Director

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 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2021

3,231

55,676

16,425

75,332

Disposals

(3,231

)

(55,676

)

(16,425

)

(75,332

)

At 31 March 2022

-

-

-

-

DEPRECIATION

At 1 April 2021

3,181

43,417

13,242

59,840

Eliminated on disposal

(3,181

)

(43,417

)

(13,242

)

(59,840

)

At 31 March 2022

-

-

-

-

NET BOOK VALUE

At 31 March 2022

-

-

-

-

At 31 March 2021

50

12,259

3,183

15,492

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

Motor

vehicles

£

COST

At 1 April 2021

19,230

Disposals

(19,230

)

At 31 March 2022

-

DEPRECIATION

At 1 April 2021

10,326

Eliminated on disposal

(10,326

)

At 31 March 2022

-

NET BOOK VALUE

At 31 March 2022

-

At 31 March 2021

8,904

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Director loan account

-

4,044

Corporation tax recoverable

-

1,314

Prepayments and accrued income

-

1,223

-

6,581

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans and overdrafts

-

2,292

Hire purchase contracts

-

3,822

Trade creditors

-

302

Tax

3,138

3,122

Social security and other taxes

1,174

3,557

VAT

-

1,663

Company Credit Card

-

677

Accrued expenses

-

450

4,312

15,885

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Bank loans - 2-5 years

-

10,000

Bank loans more 5 yr by instal

-

208

Hire purchase contracts

-

1,274

-

11,482

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

208

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 2022 which comprise the Income statement, Balance sheet 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 profit 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

Room 405

Highland House

165 The Broadway

London

SW19 1NE

Date: .............................................