Company Registration No. 06866778 (England and Wales)
Element Law Limited
Unaudited accounts
for the year ended 31 March 2023
Element Law Limited
Unaudited accounts
Contents
Element Law Limited
Company Information
for the year ended 31 March 2023
Director
Mrs Katherine J Lawson
Company Number
06866778 (England and Wales)
Registered Office
Pantiles Chambers
85 High Street
Tunbridge Wells
Kent
TN1 1XP
Accountants
Rustrick Accountants Limited
380A New Hythe lane
Larkfield
Maidstone
Kent
ME20 6RZ
Element Law Limited
Statement of financial position
as at 31 March 2023
Tangible assets
2,366
3,095
Cash at bank and in hand
47,349
60,954
Creditors: amounts falling due within one year
(17,556)
(23,653)
Net current assets
53,079
61,064
Called up share capital
1
1
Profit and loss account
55,444
64,158
Shareholders' funds
55,445
64,159
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 October 2023 and were signed on its behalf by
Mrs Katherine J Lawson
Director
Company Registration No. 06866778
Element Law Limited
Notes to the Accounts
for the year ended 31 March 2023
Element Law Limited is a private company, limited by shares, registered in England and Wales, registration number 06866778. The registered office is Pantiles Chambers, 85 High Street, Tunbridge Wells, Kent, TN1 1XP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Computer equipment
25% reducing balance
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Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2022
3,241
4,258
7,499
At 31 March 2023
3,241
4,318
7,559
At 1 April 2022
2,886
1,518
4,404
Charge for the year
89
700
789
At 31 March 2023
2,975
2,218
5,193
At 31 March 2023
266
2,100
2,366
At 31 March 2022
355
2,740
3,095
Element Law Limited
Notes to the Accounts
for the year ended 31 March 2023
Amounts falling due within one year
Trade debtors
17,715
18,403
Accrued income and prepayments
5,571
5,360
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
15,687
12,477
Other creditors
1,202
1,903
Loans from directors
667
9,273
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan from director
9,273
1,152
9,758
667
The ultimate controlling party is K Lawson by virtue of her 100% shareholding.
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).