Abbreviated Company Accounts - ELARA RETAIL LIMITED

ELARA RETAIL LIMITED - Company Information

06769911 ELARA RETAIL LIMITED 2015-03-31 false 2014-04-01 2015-03-31 true 06769911 2014-04-01 2015-03-31 06769911 2015-03-31 06769911 2014-03-31 06769911 uk-gaap-cd-bus:Director1 2014-04-01 2015-03-31 06769911 uk-gaap-cd-bus:Director2 2014-04-01 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-04-01 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-03-31 iso4217:GBP shares

Registered Number 06769911

ELARA RETAIL LIMITED

Abbreviated Accounts

31 March 2015

ELARA RETAIL LIMITED Registered Number 06769911

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Fixed assets
Intangible assets	2	48,000	51,200
Tangible assets	3	33,116	33,760
		81,116	84,960
Current assets
Stocks		51,707	50,920
Debtors		13,780	12,073
Cash at bank and in hand		129,568	102,547
		195,055	165,540
Creditors: amounts falling due within one year	4	(93,921)	(92,340)
Net current assets (liabilities)		101,134	73,200
Total assets less current liabilities		182,250	158,160
Creditors: amounts falling due after more than one year	4	(135,880)	(148,406)
Provisions for liabilities		(3,642)	(5,551)
Total net assets (liabilities)		42,728	4,203
Capital and reserves
Called up share capital	5	100	100
Profit and loss account		42,628	4,103
Shareholders' funds		42,728	4,203

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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 31 March 2016

And signed on their behalf by:
I Kuganesan, Director

ELARA RETAIL LIMITED Registered Number 06769911

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Leasehold Property - over the term of lease
Fixtures & Fittings - 20% on reducing balance
Motor Vehicles - 25% on reducing balalnce basis

Intangible assets amortisation policy
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill - over a period of 20 years

Valuation information and policy
All fixed assets are initially recorded at cost.

2Intangible fixed assets

	£
Cost
At 1 April 2014	64,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2015	64,000
Amortisation
At 1 April 2014	12,800
Charge for the year	3,200
On disposals	-
At 31 March 2015	16,000
Net book values
At 31 March 2015	48,000
At 31 March 2014	51,200

3Tangible fixed assets

	£
Cost
At 1 April 2014	75,038
Additions	9,528
Disposals	(5,995)
Revaluations	-
Transfers	-
At 31 March 2015	78,571
Depreciation
At 1 April 2014	41,278
Charge for the year	6,940
On disposals	(2,763)
At 31 March 2015	45,455
Net book values
At 31 March 2015	33,116
At 31 March 2014	33,760

4Creditors

	2015 £	2014 £
Secured Debts	150,766	163,292
Instalment debts due after 5 years	76,336	88,862

5Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
100 Ordinary shares of £1 each	100	100

The company was under the control of Mr Iyathurai Kuganesan throughout the current year. Mr Iyathurai Kuganesan is the managing director and majority shareholder.

No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Small Entities.