Abbreviated Company Accounts - MY ELEMENTS LIMITED

MY ELEMENTS LIMITED - Company Information

06216219 MY ELEMENTS LIMITED 2016-02-28 false 2015-03-01 2016-02-28 true 06216219 2015-03-01 2016-02-28 06216219 2016-02-28 06216219 2015-02-28 06216219 uk-gaap-cd-bus:Director1 2015-03-01 2016-02-28 06216219 uk-gaap-cd-bus:Director2 2015-03-01 2016-02-28 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-01 2016-02-28 uk-gaap-cd-bus:OrdinaryShareClass1 2016-02-28 uk-gaap-cd-bus:OrdinaryShareClass1 2015-02-28 iso4217:GBP shares

Registered Number 06216219

MY ELEMENTS LIMITED

Abbreviated Accounts

28 February 2016

MY ELEMENTS LIMITED Registered Number 06216219

Abbreviated Balance Sheet as at 28 February 2016

	Notes	2016	2015
		£	£
Called up share capital not paid		-	-
Fixed assets
Intangible assets	2	22,000	24,000
Tangible assets	3	20,311	767
Investments		-	-
		42,311	24,767
Current assets
Stocks		7,620	5,075
Debtors		6,922	3,853
Investments		-	-
Cash at bank and in hand		7,842	4,266
		22,384	13,194
Prepayments and accrued income		-	-
Creditors: amounts falling due within one year		(90,131)	(84,124)
Net current assets (liabilities)		(67,747)	(70,930)
Total assets less current liabilities		(25,436)	(46,163)
Creditors: amounts falling due after more than one year		(18,250)	0
Provisions for liabilities		0	0
Accruals and deferred income		0	0
Total net assets (liabilities)		(43,686)	(46,163)
Capital and reserves
Called up share capital	4	2	2
Share premium account		0	0
Revaluation reserve		0	0
Other reserves		0	0
Profit and loss account		(43,688)	(46,165)
Shareholders' funds		(43,686)	(46,163)

For the year ending 28 February 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 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 28 April 2016

And signed on their behalf by:
M. Clements, Director

MY ELEMENTS LIMITED Registered Number 06216219

Notes to the Abbreviated Accounts for the period ended 28 February 2016

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
Turnover represents the total invoice value, excluding VAT, of sales made during the year.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:-
Plant and Machinery - 18% reducing Balance Basis
Fixtures, fittings and equipment - 25% per annum Straight Line Basis
Motor vehicles - 25% per annum Straight Line Basis

Intangible assets amortisation policy
Acquired Goodwill is written off in equal annual instalments over its economic useful life of 20 years.

2Intangible fixed assets

	£
Cost
At 1 March 2015	40,000
Additions	0
Disposals	0
Revaluations	0
Transfers	0
At 28 February 2016	40,000
Amortisation
At 1 March 2015	16,000
Charge for the year	2,000
On disposals	0
At 28 February 2016	18,000
Net book values
At 28 February 2016	22,000
At 28 February 2015	24,000

3Tangible fixed assets

	£
Cost
At 1 March 2015	1,136
Additions	24,001
Disposals	0
Revaluations	0
Transfers	0
At 28 February 2016	25,137
Depreciation
At 1 March 2015	369
Charge for the year	4,457
On disposals	0
At 28 February 2016	4,826
Net book values
At 28 February 2016	20,311
At 28 February 2015	767

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
2 Ordinary shares of £1 each	2	2