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REGISTERED NUMBER: 04437439 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 30 MAY 2017 TO 28 MAY 2018

FOR

ELIZABETH ARNOLD ASSOCIATES LIMITED

ELIZABETH ARNOLD ASSOCIATES LIMITED (REGISTERED NUMBER: 04437439)

CONTENTS OF THE FINANCIAL STATEMENTS
for the period 30 May 2017 to 28 May 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ELIZABETH ARNOLD ASSOCIATES LIMITED

COMPANY INFORMATION
for the period 30 May 2017 to 28 May 2018







DIRECTORS: J R Carmichael
P Khagram
R Khagram
C S Sargent
H Patel





REGISTERED OFFICE: 10-12 High Street
East Grinstead
East Essex
RH19 3AW





REGISTERED NUMBER: 04437439 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Magma House
16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ

ELIZABETH ARNOLD ASSOCIATES LIMITED (REGISTERED NUMBER: 04437439)

BALANCE SHEET
28 May 2018

2018 2017
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 3,198 4,797

CURRENT ASSETS
Debtors 5 - 9,058
Cash at bank - 99
- 9,157
CREDITORS
Amounts falling due within one year 6 24,107 27,119
NET CURRENT LIABILITIES (24,107 ) (17,962 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(20,909

)

(13,165

)

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings (21,109 ) (13,365 )
SHAREHOLDERS' FUNDS (20,909 ) (13,165 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 May 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 May 2018 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 13 November 2018 and were signed on its behalf
by:





P Khagram - Director


ELIZABETH ARNOLD ASSOCIATES LIMITED (REGISTERED NUMBER: 04437439)

NOTES TO THE FINANCIAL STATEMENTS
for the period 30 May 2017 to 28 May 2018


1. STATUTORY INFORMATION

Elizabeth Arnold Associates Limited is a private company, limited by share capital, registered in England and
Wales. The company's registered number is 04437439 and registered office address is 10-12 High Street, East
Grinstead, West Sussex, RH19 3AW.

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 presentation currency of the financial statements is sterling (£).

Going concern
At the year end the net liabilities of the company were £20,775 (2017: £13,165). The directors believe that they
will be able to continue to support the company for the next 12 months, therefore these accounts have been
prepared on a going concern basis.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in
accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated
impairment losses. Historical costs includes expenditure that is directly attributable to bringing the asset to the
location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful
lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Fixtures and fittings-33.33%on reducing balance
Motor vehicles-25%straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if
appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are
recognised in profit or loss.

ELIZABETH ARNOLD ASSOCIATES LIMITED (REGISTERED NUMBER: 04437439)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 30 May 2017 to 28 May 2018


2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to
related parties and investments in non-puttable ordinary shares.

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 profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet 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.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the
arrangement constitutes a financing transaction, where the transaction is measured at the present value of the
future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost
using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and
other short-term highly liquid investments that mature in no more than three months from the date of acquisition
and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related
parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction,
where the debt instrument is measured at the present value of the future payments discounted at a market rate
of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less
any impairment.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised
as other comprehensive income or to an item recognised directly in equity is also recognised in other
comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by
the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered
against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have
been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively
enacted by the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2017 - 3 ) .

ELIZABETH ARNOLD ASSOCIATES LIMITED (REGISTERED NUMBER: 04437439)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 30 May 2017 to 28 May 2018


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 30 May 2017
and 28 May 2018 31,038
DEPRECIATION
At 30 May 2017 26,241
Charge for period 1,599
At 28 May 2018 27,840
NET BOOK VALUE
At 28 May 2018 3,198
At 29 May 2017 4,797

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£ £
Other debtors - 9,058

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£ £
Bank loans and overdrafts 14,246 23,080
Taxation and social security 2,234 939
Other creditors 7,627 3,100
24,107 27,119

7. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party
transactions with wholly owned subsidiaries within the group.