Elemec Limited - Accounts

Elemec Limited - Accounts

ELEMEC LIMITED - Company Information

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Registered Number: 02660683
England and Wales

 

 

 


Abridged Accounts

for the year ended 30 November 2020

for

ELEMEC LIMITED

Elemec Limited
Contents Page
For the year ended 30 November 2020
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 November 2020 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Brumijan Ltd t/a all about accounting
30 November 2020



....................................................
Brumijan Ltd t/a all about accounting
West Gate Lodge
Cams Hall Estate
Fareham
PO16 8UP
20 July 2021
1
 
 		 Notes
 		 2020
£		   2019
£
Fixed assets      
Tangible fixed assets 14,311    19,001 
14,311    19,001 
Current assets      
Debtors: amounts falling due within one year 6,915    7,207 
Cash at bank and in hand 16,712    25,037 
23,627    32,244 
Creditors: amount falling due within one year (6,915)   (16,886)
Net current assets 16,712    15,358 
 
Total assets less current liabilities 31,023    34,359 
Creditors: amount falling due after more than one year (30,000)   (23,306)
Net assets 1,023    11,053 
 

Capital and reserves 		     
Called up share capital 3 1,000    1,000 
Profit and loss account 23    10,053 
Shareholders funds 1,023    11,053 
 


For the year ended 30 November 2020 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 20 July 2021 and were signed on its behalf by:


--------------------------------
Mr P Farmery
Director
2
General Information
Elemec Limited is a private company, limited by shares, registered in England and Wales, registration number 02660683, registration address WEST GATE LODGE, CAMS HALL ESTATE, FAREHAM, HAMPSHIRE, PO16 8UP

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25 Reducing Balance
Computer Equipment 20 Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2019 : 0).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 December 2019 31,605    7,111    850    39,566 
Additions -    -    -    - 
Disposals -    -    -    - 
At 30 November 2020 31,605    7,111    850    39,566 
Depreciation
At 01 December 2019 13,827    6,368    370    20,565 
Charge for year 4,445    149    96    4,690 
On disposals -    -    -    - 
At 30 November 2020 18,272    6,517    466    25,255 
Net book values
Closing balance as at 30 November 2020 13,333    594    384    14,311 
Opening balance as at 01 December 2019 17,778    743    480    19,001 


4.

Share Capital

Allotted, called up and fully paid
2020
£		   2019
£
1,000 Class A shares of £1.00 each 1,000    1,000 
1,000    1,000 

3