Elms Marketing Limited - Period Ending 2015-12-31

Registration number: 03936153

Elms Marketing Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

D C Accounting Solutions Limited
Chartered Accountants and Business Advisers
Heron House,
39-41 Higher Bents Lane,
Bredbury,
Stockport
SK6 1EE

Elms Marketing Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Elms Marketing Limited
for the Year Ended 31 December 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Elms Marketing Limited for the year ended 31 December 2015 set out on pages 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 at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Elms Marketing Limited, 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 Elms Marketing Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elms Marketing Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Elms Marketing 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 Elms Marketing Limited. You consider that Elms Marketing 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 Elms Marketing 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.

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

D C Accounting Solutions Limited
Chartered Accountants and Business Advisers
Heron House,
39-41 Higher Bents Lane,
Bredbury,
Stockport
SK6 1EE

4 April 2016

Page 1

Elms Marketing Limited
(Registration number: 03936153)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					108,163			95,035
Current assets
Stocks					85,236			13,336
Debtors					512,793			468,444
Cash at bank and in hand					171,822			99,857
					769,851			581,637
Creditors: Amounts falling due within one year					(532,793)			(498,107)
Net current assets					237,058			83,530
Total assets less current liabilities					345,221			178,565
Creditors: Amounts falling due after more than one year					(17,308)			(10,462)
Provisions for liabilities					(21,318)			(18,123)
Net assets					306,595			149,980
Capital and reserves
Called up share capital		3			2,000			2,000
Capital redemption reserve					2,000			2,000
Profit and loss account					302,595			145,980
Shareholders' funds					306,595			149,980

For the year ending 31 December 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 1 April 2016 and signed on its behalf by:

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Elms Marketing Limited
(Registration number: 03936153)
Abbreviated Balance Sheet at 31 December 2015
......... continued

.........................................
Dr Peter Anthony Gleeson
Director

.........................................
Mr Glyn Andrew Winterbottom
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Elms Marketing Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

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

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Land and buildings	5% straight line
Fixtures, fittings and equipment	10-33% reducing balance

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.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 4

Elms Marketing Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

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.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		186,543			186,543
Additions		33,763			33,763
Disposals		(15,894)			(15,894)
At 31 December 2015		204,412			204,412
Depreciation
At 1 January 2015		91,508			91,508
Charge for the year		19,780			19,780
Eliminated on disposals		(15,039)			(15,039)
At 31 December 2015		96,249			96,249
Net book value
At 31 December 2015		108,163			108,163
At 31 December 2014		95,035			95,035

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		2,000			2,000			2,000			2,000

4

Control

The company is controlled by Sports Branding Limited which owns 100% of the share capital in Elms Marketing Limited. The directors of Elms Marketing Limited are also the directors of Sports Branding Limited..

Page 5