The Eleven Enterprises Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04620812 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

THE ELEVEN ENTERPRISES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

B J R Gateley

R J O'Donovan

REGISTERED OFFICE:

20-22 Wenlock Road

London

N1 7GU

REGISTERED NUMBER:

04620812 (England and Wales)

ACCOUNTANTS:

Horizon Accounts Limited

Stapleton House

Block A, 2nd Floor

110 Clifton Street

London

EC2A 4HT

FIXED ASSETS

Tangible assets

5

7,866

16,235

CURRENT ASSETS

Debtors

6

104,404

97,272

Cash at bank

77,716

16,651

182,120

113,923

CREDITORS

Amounts falling due within one year

7

136,878

108,826

NET CURRENT ASSETS

45,242

5,097

TOTAL ASSETS LESS CURRENT LIABILITIES

53,108

21,332

PROVISIONS FOR LIABILITIES

-

3,247

NET ASSETS

53,108

18,085

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

52,108

17,085

53,108

18,085

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 12 June 2018 and were signed on its behalf by:

R J O'Donovan - Director

1.	STATUTORY INFORMATION

The Eleven Enterprises 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

No significant judgements or estimates have been applied in arriving at the figures contained within these

financial statements.

Turnover

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

value added tax and other sales taxes.

Other income

Other income includes expenses recharged to connected companies together with rentals received for desks in

the company's offices.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment

losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write

off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Fixtures and fittings - 20% on reducing balance

Computer equipment - 20% on reducing balance

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third

parties, loans to related parties and investments in non-puttable ordinary shares. Derivative financial instruments

are initially recorded at cost and thereafter at fair value with changes recognised in the income statement.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised

in the income statement.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between

an asset’s carrying amount and the best estimate, which is an approximation, of the amount that the company

would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when

there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or

to realise the asset and settle the liability simultaneously.

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 statement of financial position date.

Deferred tax

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

statement of financial position 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

statement of financial position 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.

Going concern

The financial statements have been prepared on the going concern basis. The directors have a reasonable

expectation that the company will continue to trade profitably and have adequate resources to continue in

operational existence for the foreseeable future. The directors are therefore of the opinion that they should

continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and demand deposits and other short-term highly liquid

investments that are readily convertible to a known amount of cash and are subject to an insignificant risk to

changes in value.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 6 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2017

8,434

34,181

42,615

Disposals

-

(10,248

)

(10,248

)

At 31 December 2017

8,434

23,933

32,367

DEPRECIATION

At 1 January 2017

3,749

22,631

26,380

Charge for year

937

1,651

2,588

Eliminated on disposal

-

(4,467

)

(4,467

)

At 31 December 2017

4,686

19,815

24,501

NET BOOK VALUE

At 31 December 2017

3,748

4,118

7,866

At 31 December 2016

4,685

11,550

16,235

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

46,656

44,908

Other debtors

57,748

52,364

104,404

97,272

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade creditors

54,395

3,435

Amounts owed to participating interests

-

34,592

Taxation and social security

38,172

28,580

Other creditors

44,311

42,219

136,878

108,826

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.17

31.12.16

£

£

Within one year

-

235,224

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £26,000 were paid to the directors .

At the date of the statement of financial position the balances outstanding in respect of the directors was nil

(2016 - nil).

Born Social Limited

During the year, the company charged Born Social Limited management fees of £412,548 (2016 - £298,906) in

relation to costs incurred on behalf of the related party. The related party settled expenses on the company's

behalf of £395 (2016 - £18,326) . The amount owing to the company by the related party at the end of the year

was £41,975 (2016 - due to £16,952) . Born Social Limited is a company under common control.

Charlie OS Limited

During the year, the company charged Charlie OS Limited management fees of £136,500 (2016 - £80,415) in

relation to costs incurred on behalf of the related party. The related party settled expenses on the company's

behalf of £245 (2016 - £57,113) . In addition to the expenses, the company is holding a deposit of £17,640 in

favour of the related party in respect of desks rented from the company. The amount owing to the related party

at the end of the year was £15,862 (2016 - £17,640). Charlie OS Limited is a company under common control.