Elekcell UK Ltd - Period Ending 2016-07-31

Registration number: 08150996

Elekcell UK Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2016
 

Deseret Accountants Limited
4 Thorpe Court
Thorpe Waterville
Kettering
Northamptonshire
NN14 3ED

Elekcell UK Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Elekcell UK Ltd
(Registration number: 08150996)
Abbreviated Balance Sheet at 31 July 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					22,077			29,007
Current assets
Debtors					38,867			61,269
Cash at bank and in hand					18,749			81,990
					57,616			143,259
Creditors: Amounts falling due within one year					(33,064)			(101,992)
Net current assets					24,552			41,267
Total assets less current liabilities					46,629			70,274
Creditors: Amounts falling due after more than one year					(14,660)			(18,353)
Net assets					31,969			51,921
Capital and reserves
Called up share capital		3			10			10
Profit and loss account					31,959			51,911
Shareholders' funds					31,969			51,921

For the year ending 31 July 2016 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 director acknowledges his 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 director on 13 September 2016

.........................................
Mr F Mahon
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Elekcell UK Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... 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 charged at the following annual rates in order to write off each asset over its estimated useful life.

Asset class	Depreciation method and rate
Plant and machinery etc	25% on reducing balance

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.

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.

Page 2

Elekcell UK Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 August 2015		46,891			46,891
Additions		429			429
At 31 July 2016		47,320			47,320
Depreciation
At 1 August 2015		17,884			17,884
Charge for the year		7,359			7,359
At 31 July 2016		25,243			25,243
Net book value
At 31 July 2016		22,077			22,077
At 31 July 2015		29,007			29,007

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		10			10			10			10

Page 3