Elixair International Limited - Period Ending 2015-10-01

Registration number: 03247489

Elixair International Limited

Unaudited Abbreviated Accounts

for the Year Ended 1 October 2015
 

Elixair International Limited
Contents

Page

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Elixair International Limited
(Registration number: 03247489)
Abbreviated Balance Sheet at 1 October 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					48,705			48,428
Tangible fixed assets					27,108			24,487
		2			75,813			72,915
Current assets
Stocks					276,991			318,128
Debtors		3			192,686			896,390
Cash at bank and in hand					414,680			543,141
					884,357			1,757,659
Creditors: Amounts falling due within one year					(188,076)			(249,401)
Net current assets					696,281			1,508,258
Total assets less current liabilities					772,094			1,581,173
Provisions for liabilities					(4,838)			(2,815)
Net assets					767,256			1,578,358
Capital and reserves
Called up share capital		4			33,150			33,150
Capital redemption reserve					31,850			31,850
Profit and loss account					702,256			1,513,358
Shareholders' funds					767,256			1,578,358

Page 1

Elixair International Limited
(Registration number: 03247489)
Abbreviated Balance Sheet at 1 October 2015

For the year ending 1 October 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 27 June 2016 and signed on its behalf by:

L McLaughlin Director

S Hills Director

Page 2

Elixair International Limited
Notes to the Abbreviated Accounts
For the Year Ended 1 October 2015

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 April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax and trade discounts, in respect of the sale of goods to customers. Turnover is recognised when goods are despatched.

Amortisation

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

Asset class	Amortisation method and rate
Intellectual property	5 years straight line from time of commencement of marketing

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
Plant & machinery	15% written down value
Motor vehicles	25% written down value
Fixtures and fittings	15% written down value
Office equipment	33.3% written down 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.

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.

Page 3

Elixair International Limited
Notes to the Abbreviated Accounts
For the Year Ended 1 October 2015

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 2 October 2014		60,535			76,284			136,819
Additions		16,512			23,148			39,660
Disposals		-			(21,231)			(21,231)
At 1 October 2015		77,047			78,201			155,248
Depreciation
At 2 October 2014		12,107			51,797			63,904
Charge for the year		16,235			8,585			24,820
Eliminated on disposals		-			(9,289)			(9,289)
At 1 October 2015		28,342			51,093			79,435
Net book value
At 1 October 2015		48,705			27,108			75,813
At 1 October 2014		48,428			24,487			72,915

3

Debtors

Debtors includes £9,021 (2014 - £8,083) receivable after more than one year.

 

Page 4

Elixair International Limited
Notes to the Abbreviated Accounts
For the Year Ended 1 October 2015

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary A shares of £1 each		33,150			33,150			33,150			33,150

5	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
L McLaughlin
	1,061,611	1,061,611	207,650	3,438,486
S Hills
	3,752	-	32,332	-

Page 5