ELX Art Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 08539106 (England and Wales)

Abbreviated Unaudited Accounts For The Year Ended 31 May 2016

for

ELX Art Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mr J-B Leroux

SECRETARY:

REGISTERED OFFICE:

23/3 Kempsford Gardens

London

SW5 9LA

REGISTERED NUMBER:

08539106 (England and Wales)

ACCOUNTANTS:

Cochran, Harris & Clarke Ltd

7 Billing Road

Northampton

Northamptonshire

NN1 5AN

CURRENT ASSETS

Debtors

1,028

7,870

Cash at bank and in hand

8,350

5,150

9,378

13,020

CREDITORS

Amounts falling due within one year

7,662

10,036

NET CURRENT ASSETS

1,716

2,984

TOTAL ASSETS LESS CURRENT LIABILITIES

1,716

2,984

CAPITAL AND RESERVES

Called up share capital

2

100

100

Profit and loss account

1,616

2,884

SHAREHOLDERS' FUNDS

1,716

2,984

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 9 February 2017 and were signed by:

Mr J-B Leroux - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 the net invoiced value of goods and services, exclusive of Value Added Tax.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

60

Ordinary

£1

60

60

40

A Ordinary

£1

40

40

100

100

3.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2016 and

31 May 2015:

2016

2015

£

£

Mr J Elwes

Balance outstanding at start of year

(53

)

556

Amounts repaid

53

(609

)

Balance outstanding at end of year

-

(53

)

Mr J-B Leroux

Balance outstanding at start of year

(3,973

)

(2,589

)

Amounts advanced

91

(1,384

)

Amounts repaid

(2,400

)

-

Balance outstanding at end of year

(6,282

)

(3,973

)

At the balance sheet date the company owed J-B Leroux £ 6,282 (2015: £ 3,973) and J Elwes £ - (2015: £ nil).

The loans are interest free and have no fixed repayment date.

During the period the directors received dividends of £2,404 (2015: £-)