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REGISTERED NUMBER: 04615393 (England and Wales)















Financial Statements

for the Year Ended 31 March 2022

for

ELEMENTAL HERBOLOGY LIMITED

ELEMENTAL HERBOLOGY LIMITED (REGISTERED NUMBER: 04615393)

Contents of the Financial Statements
for the year ended 31 March 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELEMENTAL HERBOLOGY LIMITED

Company Information
for the year ended 31 March 2022







Directors: Mrs K Hurd
M S C Johnson
W Rollason
Ms C A Beck





Secretary: Ms C Powell





Registered office: 1 Lyric Square
London
W6 0NB





Registered number: 04615393 (England and Wales)





Accountants: Haines Watts
Chartered Accountants
Aissela
46 High Street
Esher
Surrey
KT10 9QY

ELEMENTAL HERBOLOGY LIMITED (REGISTERED NUMBER: 04615393)

Balance Sheet
31 March 2022

2022 2021
Notes £ £ £ £
Fixed assets
Intangible assets 4 2,595 1,953
Tangible assets 5 373 1,435
2,968 3,388

Current assets
Stocks 360,952 346,193
Debtors 6 196,331 137,237
Cash at bank 33,536 18,781
590,819 502,211
Creditors
Amounts falling due within one year 7 389,500 292,253
Net current assets 201,319 209,958
Total assets less current liabilities 204,287 213,346

Creditors
Amounts falling due after more than one
year

8

32,406

41,667
Net assets 171,881 171,679

Capital and reserves
Called up share capital 9 766,516 701,183
Share premium 2,650,956 2,618,289
Retained earnings (3,245,591 ) (3,147,793 )
Shareholders' funds 171,881 171,679

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

ELEMENTAL HERBOLOGY LIMITED (REGISTERED NUMBER: 04615393)

Balance Sheet - continued
31 March 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 1 September 2022 and were signed on its behalf by:





W Rollason - Director


ELEMENTAL HERBOLOGY LIMITED (REGISTERED NUMBER: 04615393)

Notes to the Financial Statements
for the year ended 31 March 2022


1. Statutory information

Elemental Herbology Limited is a private company, limited by shares, registered and domiciled in England and Wales. The address of its registered office is 1 Lyric Square, London, W6 0NB. The financial statements are prepared in Sterling which is the functional currency of the Company and rounded to the nearest £.

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

2. Accounting policies

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

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, as modified by the recognition of certain financial assets and liabilities measured at fair value.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating stock values. A full line by line review of stock values is carried out by management regularly. Whilst every attempt is made to ensure that the stock values are accurate as possible, there remains a risk that the provisions do not match the actual stock values when asset is disposed off.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are not being amortised over their estimated useful life as the cost and the residual value is the same.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

ELEMENTAL HERBOLOGY LIMITED (REGISTERED NUMBER: 04615393)

Notes to the Financial Statements - continued
for the year ended 31 March 2022


2. Accounting policies - continued

Financial instruments
Basic financial assets, including trade and other receivables, cash and bank balances 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.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

Basic financial liabilities, including trade and other payables, bank loans 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 receipts discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 7 (2021 - 7 ) .

ELEMENTAL HERBOLOGY LIMITED (REGISTERED NUMBER: 04615393)

Notes to the Financial Statements - continued
for the year ended 31 March 2022


4. Intangible fixed assets
Patents and
licences
£
Cost
At 1 April 2021 1,953
Additions 642
At 31 March 2022 2,595
Net book value
At 31 March 2022 2,595
At 31 March 2021 1,953

5. Tangible fixed assets
Computer
equipment
£
Cost
At 1 April 2021
and 31 March 2022 13,020
Depreciation
At 1 April 2021 11,585
Charge for year 1,062
At 31 March 2022 12,647
Net book value
At 31 March 2022 373
At 31 March 2021 1,435

6. Debtors: amounts falling due within one year
2022 2021
£ £
Trade debtors 177,481 129,515
Other debtors 18,850 7,722
196,331 137,237

7. Creditors: amounts falling due within one year
2022 2021
£ £
Bank loans and overdrafts 9,691 8,337
Trade creditors 262,451 157,743
Taxation and social security 29,228 8,535
Other creditors 88,130 117,638
389,500 292,253

8. Creditors: amounts falling due after more than one year
2022 2021
£ £
Bank loans 32,406 41,667

ELEMENTAL HERBOLOGY LIMITED (REGISTERED NUMBER: 04615393)

Notes to the Financial Statements - continued
for the year ended 31 March 2022


8. Creditors: amounts falling due after more than one year - continued
2022 2021
£ £
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 1,667

9. Called up share capital



Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £ £
284,644 Ordinary £1.00 284,644 284,644
481,872 Ordinary A £1.00 481,872 416,539
766,516 701,183

65,333 Ordinary A shares of £1.00 each were allotted as fully paid at a premium of 50p per share during the year.