Eltikki Ltd - Period Ending 2015-03-31

Registration number: 08113638

Eltikki Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2015
 

Eltikki Ltd
Contents

Company Information 1

Director's Report 2

Accountants' Report 3

Profit and Loss Account 4

Balance Sheet 5

Notes to the Financial Statements 6 to 9

Eltikki Ltd
Company Information

Director

Ms Nicola McAlister

Company secretary

Britannia Accountancy & Tax services Ltd

Registered office

A66 The Sanderson Centre Lees Lane Gosport PO12 3UL

Accountants

Britannia Accountancy & Tax services Ltd Unit A66 The Sanderson Centre Lees Lane Gosport Hampshire PO12 3UL

Page 1

Eltikki Ltd
Director's Report for the Year Ended 31 March 2015

The director presents her report and the unaudited financial statements for the year ended 31 March 2015.

Director of the company

The director who held office during the year was as follows:

Ms Nicola McAlister

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 5 August 2015 and signed on its behalf by:

.........................................
Ms Nicola McAlister
Director

Page 2

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Eltikki Ltd
for the Year Ended 31 March 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Eltikki Ltd for the year ended 31 March 2015 set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Eltikki Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Eltikki Ltd and state those matters that we have agreed to state to them, as a body, in this report. . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Eltikki Ltd and its Board of Directors as a body for our work or for this report. To the best of our knowledge at the time of preparation; all information contained in this report is accurate, based upon the information and representations made to us by Eltikki Ltd.

It is your duty to ensure that Eltikki Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Eltikki Ltd. You consider that Eltikki Ltd 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 accounts of Eltikki Ltd. 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 accounts.

......................................

Britannia Accountancy & Tax services Ltd
Unit A66
The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

5 August 2015

Page 3

Eltikki Ltd
Profit and Loss Account for the Year Ended 31 March 2015

		Note			2015 £			2014 £
Turnover					170,793			146,496
Cost of sales					(87,653)			(88,322)
Gross profit					83,140			58,174
Administrative expenses					(63,292)			(48,661)
Operating profit		2			19,848			9,513
Interest payable and similar charges					(9,667)			(6,521)
Profit on ordinary activities before taxation					10,181			2,992
Profit for the financial year		10			10,181			2,992

The notes on pages 6 to 9 form an integral part of these financial statements.
Page 4

Eltikki Ltd
(Registration number: 08113638)
Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets		4			33,075			37,800
Tangible fixed assets		5			14,747			16,681
					47,822			54,481
Current assets
Stocks					100,000			100,000
Debtors		6			(299)			6,794
Cash at bank and in hand					3,517			2,384
					103,218			109,178
Creditors: Amounts falling due within one year		7			(150,632)			(158,432)
Net current liabilities					(47,414)			(49,254)
Net assets					408			5,227
Capital and reserves
Called up share capital		8			100			100
Profit and loss account		10			308			5,127
Shareholders' funds					408			5,227

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

For the year ending 31 March 2015 the company was entitled to exemption 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised for issue by the director on 5 August 2015

.........................................
Ms Nicola McAlister
Director

The notes on pages 6 to 9 form an integral part of these financial statements.
Page 5

Eltikki Ltd
Notes to the Financial Statements for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Goodwill is amortised over its useful economic life at the rates outlined below.

Asset class	Amortisation method and rate
Goodwill	10% on cost.

Depreciation

Assets are depreciated over their useful economic life at the rates outlined below.

Asset class	Depreciation method and rate
Fixtures and fittings	18% on net book value.
Tools and equipment	18% on net book value.
Office equipment	18% on net book value.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 6

Eltikki Ltd
Notes to the Financial Statements for the Year Ended 31 March 2015
......... continued

2	Operating profit

Operating profit is stated after charging:

		2015 £			2014 £
Depreciation of tangible fixed assets		3,235			3,661
Amortisation		4,725			4,725

3	Director's remuneration

The director's remuneration for the year was as follows:

		2015 £			2014 £
Remuneration		7,920			7,680

4	Intangible fixed assets

		Goodwill £			Total £
Cost
At 1 April 2014		47,250			47,250
At 31 March 2015		47,250			47,250
Amortisation
At 1 April 2014		9,450			9,450
Charge for the year		4,725			4,725
At 31 March 2015		14,175			14,175
Net book value
At 31 March 2015		33,075			33,075
At 31 March 2014		37,800			37,800

Page 7

Eltikki Ltd
Notes to the Financial Statements for the Year Ended 31 March 2015
......... continued

5	Tangible fixed assets

		Plant and machinery £			Fixtures and fittings £			Office equipment £			Total £
Cost or valuation
At 1 April 2014		3,573			15,990			5,244			24,807
Additions		-			407			894			1,301
At 31 March 2015		3,573			16,397			6,138			26,108
Depreciation
At 1 April 2014		1,170			5,238			1,718			8,126
Charge for the year		432			2,008			795			3,235
At 31 March 2015		1,602			7,246			2,513			11,361
Net book value
At 31 March 2015		1,971			9,151			3,625			14,747
At 31 March 2014		2,403			10,752			3,526			16,681

6

Debtors

		2015 £			2014 £
Trade debtors		(299)			130
Other debtors		-			6,664
		(299)			6,794

7	Creditors: Amounts falling due within one year

		2015 £			2014 £
Trade creditors		21,519			69,536
Other taxes and social security		31,264			-
Other creditors		97,849			88,896
		150,632			158,432

Page 8

Eltikki Ltd
Notes to the Financial Statements for the Year Ended 31 March 2015
......... continued

8	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

9

Dividends

		2015 £			2014 £
Dividends paid
Current year interim dividend paid		15,000			-

10

Reserves

		Profit and loss account £			Total £
At 1 April 2014		5,127			5,127
Profit for the year		10,181			10,181
Dividends		(15,000)			(15,000)
At 31 March 2015		308			308

11

Control

The company is controlled by the director who owns 100% of the called up share capital.

Page 9