Elemental CoSec Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07707780 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2017

for

Elemental CoSec Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N Lindsay

D Patel

T Latham

REGISTERED OFFICE:

27 Old Gloucester Street

London

WC1N 3AX

REGISTERED NUMBER:

07707780 (England and Wales)

ACCOUNTANTS:

Elemental CoSec Limited

27 Old Gloucester Street

London

WC1N 3AX

FIXED ASSETS

Tangible assets

4

2,419

1,239

Investments

5

2

2

2,421

1,241

CURRENT ASSETS

Stocks

2

-

Debtors

6

187,037

83,747

Cash at bank

134,120

129,742

321,159

213,489

CREDITORS

Amounts falling due within one year

7

180,539

128,623

NET CURRENT ASSETS

140,620

84,866

TOTAL ASSETS LESS CURRENT LIABILITIES

143,041

86,107

CREDITORS

Amounts falling due after more than one year

8

463

2

NET ASSETS

142,578

86,105

CAPITAL AND RESERVES

Called up share capital

30

30

Retained earnings

142,548

86,075

SHAREHOLDERS' FUNDS

142,578

86,105

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 3 January 2018 and were signed on its behalf by:

N Lindsay - Director

1.	STATUTORY INFORMATION

Elemental CoSec Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the

Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has a growing and profitable client base and the directors believe that the

company will be able to maintain positive cash flows for the foreseeable future. As a result

the going concern basis of accounting has been adopted.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in

periods different from those in which they are recognised in financial statements. Deferred

tax is measured using tax rates and laws that have been enacted or substantively enacted

by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it

is probable that they will be recovered against the reversal of deferred tax liabilities or other

future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of

exchange ruling at the balance sheet date. Transactions in foreign currencies are translated

into sterling at the rate of exchange ruling at the date of transaction. Exchange differences

are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2016

3,169

Additions

1,321

At 31 July 2017

4,490

DEPRECIATION

At 1 August 2016

1,930

Charge for year

141

At 31 July 2017

2,071

NET BOOK VALUE

At 31 July 2017

2,419

At 31 July 2016

1,239

Office Equipment - 3 years on a straight line basis

Computer Equipment - 3 years on a straight line basis

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 August 2016

and 31 July 2017

2

NET BOOK VALUE

At 31 July 2017

2

At 31 July 2016

2

The company's investments at the Balance Sheet date in the share capital of companies

include the following:

Elemental Company Secretary Limited

Registered office: 27 Old Gloucester Street, London,WC1N 3AX

Nature of business: Corporate Company Secretary

%

Class of shares:

holding

Ordinary

100.00

31.7.17

31.7.16

£

£

Aggregate capital and reserves

1

1

Elemental Escrow Agent Limited

Registered office: 27 Old Gloucester Street, London, WC1N 3AX

Nature of business: Escrow Agent

%

Class of shares:

holding

Ordinary

100.00

31.7.17

31.7.16

£

£

Aggregate capital and reserves

1

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade debtors

186,187

83,747

Other debtors

850

-

187,037

83,747

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Bank loans and overdrafts

13

-

Trade creditors

41,900

10,024

Taxation and social security

113,034

87,713

Other creditors

25,592

30,886

180,539

128,623

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.17

31.7.16

£

£

Taxation and social security

459

-

Other creditors

4

2

463

2

9.	POST BALANCE SHEET EVENTS

On 22 October 2017:

a) All of the issued A Preference Shares of £0.10 each in the capital of the Company were

converted and re-designated as A Ordinary Shares of £0.10 each, each having the rights

and being subject to the the restrictions set out in respect of such shares in the articles of

association of the Company.

b) 100% of the share capital in the Company was acquired by Elemental Holdings Limited.

10.	ULTIMATE CONTROLLING PARTY

Elemental Cosec Limited is a 100% subsidiary of Elemental Holdings Limited (incorporated

in England & Wales)

The registered address of Elemental Holdings Limited is:

27 Old Gloucester Street

London

WC1N 3AX