Element Partnership Limited - Accounts

Element Partnership Limited - Accounts

ELEMENT PARTNERSHIP LIMITED - Company Information

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Registered Number: 09323554
England and Wales

 

 

 

ELEMENT PARTNERSHIP LIMITED


Filleted Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2020

End date: 31 March 2021

Element Partnership Limited
Contents Page
For the year ended 31 March 2021
Directors Johanna Morrell
Rhodri Samuel
Registered Number 09323554
Registered Office 6 Lower Park Row
Bristol
BS1 5BJ
Accountants Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bishopston
Bristol
BS7 8BH
1
The directors present their annual report and the financial statements for the year ended 31 March 2021
Principal activities
Principal activity of the company during the financial year was of consultancy.
Directors
The directors who served the company throughout the year were as follows:
Johanna Morrell
Rhodri Samuel
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Johanna Morrell
Director

Date approved: 13 December 2021
2
Report to the directors on the preparation of the unaudited statutory accounts of Element Partnership Limited for the year ended 31 March 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Element Partnership Limited for the year ended 31 March 2021 which comprise of 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 company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Element Partnership Limited, as a body, in accordance with the terms of our engagement letter dated 13 December 2015 Our work has been undertaken solely to prepare for your approval the accounts of Element Partnership Limited and state those matters that we have agreed to state to the Board of Directors of Element Partnership Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Element Partnership Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Element Partnership Limited 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 Element Partnership Limited. You consider that Element Partnership 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 accounts of Element Partnership 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 accounts
31 March 2021


Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bishopston
Bristol
BS7 8BH
13 December 2021
3
 
 		 Notes
 		 2021
£		   2020
£
Current assets      
Cash at bank and in hand 393    1,316 
Creditors: amount falling due within one year 4 (616)   (615)
Net current liabilities (223)   701 
 
Total assets less current liabilities (223)   701 
Net liabilities (223)   701 
 

Capital and reserves 		     
Called up share capital 100    100 
Profit and loss account (323)   601 
Shareholder's funds (223)   701 
 


For the year ended 31 March 2021 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 financial statements were approved by the board of directors on 13 December 2021 and were signed on its behalf by:


--------------------------------
Johanna Morrell
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 April 2019 100  4,470  4,570 
Profit for the year (69) (69)
Total comprehensive income for the year -  (69) (69)
Dividends (3,800) (3,800)
Total investments by and distributions to owners -  (3,800) (3,800)
At 31 March 2020 100  601  701 
At 01 April 2020 100  601  701 
Profit for the year (924) (924)
Total comprehensive income for the year -  (924) (924)
Total investments by and distributions to owners -  -  - 
At 31 March 2021 100  (323) (223)
5
General Information
Element Partnership Limited is a private company, limited by shares, registered in England and Wales, registration number 09323554, registration address 6 Lower Park Row, Bristol, , BS1 5BJ.

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 including the provisions of Section 1A Small Entities 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
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:
Plant and Machinery 4 years Straight Line
2.

Average number of employees

Average number of employees during the year was 2 (2020 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 April 2020 1,289    1,289 
Additions -    - 
Disposals -    - 
At 31 March 2021 1,289    1,289 
Depreciation
At 01 April 2020 1,289    1,289 
Charge for year -    - 
On disposals -    - 
At 31 March 2021 1,289    1,289 
Net book values
Closing balance as at 31 March 2021 -    - 
Opening balance as at 01 April 2020 -    - 


4.

Creditors: amount falling due within one year

2021
£		   2020
£
Corporation Tax 59    59 
Accrued Expenses 500    500 
Other Creditors 1    0 
Directors' Current Accounts 56    56 
616    615 

6