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COMPANY REGISTRATION NUMBER: 13150753
Elementary Holdings Limited
Filleted Unaudited Financial Statements
31 January 2023
Elementary Holdings Limited
Statement of Financial Position
31 January 2023
2023
2022
Note
£
£
Fixed assets
Investments
4
250,100
250,100
Current assets
Debtors
5
950
100
Cash at bank and in hand
292
160
---------
---------
1,242
260
Creditors: amounts falling due within one year
6
480
480
---------
---------
Net current assets/(liabilities)
762
( 220)
---------
---------
Total assets less current liabilities
250,862
249,880
Creditors: amounts falling due after more than one year
7
251,500
250,500
---------
---------
Net liabilities
( 638)
( 620)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 738)
( 720)
---------
---------
Shareholders deficit
( 638)
( 620)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Elementary Holdings Limited
Statement of Financial Position (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 25 October 2023 , and are signed on behalf of the board by:
Mr G D Brownlee
Director
Company registration number: 13150753
Elementary Holdings Limited
Notes to the Financial Statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 27 Page Street, London, SW1P 4JS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Investments
Shares in group undertakings
Other investments
Total
£
£
£
Cost
At 1 February 2022 and 31 January 2023
100
250,000
250,100
---------
---------
---------
Impairment
At 1 February 2022 and 31 January 2023
---------
---------
---------
Carrying amount
At 31 January 2023
100
250,000
250,100
---------
---------
---------
At 31 January 2022
100
250,000
250,100
---------
---------
---------
The investment in group undertakings relates to 100% of the ordinary share capital of Quirk Properties Limited which was acquired on 25th January 2021.
The other investment represents 34,363 new ordinary shares in Digital Reality Corp Ltd which were acquired on 24th February 2021.
5. Debtors
2023
2022
£
£
Trade debtors
850
Amounts owed by group undertakings
100
100
---------
---------
950
100
---------
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
480
480
---------
---------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
251,500
250,500
---------
---------
8. Directors' advances, credits and guarantees
There were no directors' advances, credits or guarantees during the year. At the year end the company owed the directors £251,500 (2021 - £250,500).
9. Related party transactions
The company was under the control of the directors throughout the current period. At the year end, the company was owed £100 (2021 - £100) by Donkin Holdings Inc, the ultimate parent company.
10. Controlling party
The ultimate parent company is Donkin Holdings Inc, a company incorporated in the British Virgin Islands.