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Company Registration No. 13898088 (England and Wales)
Eltican Technologies Ltd Unaudited accounts for the period from 7 February 2022 to 31 December 2022
Eltican Technologies Ltd Unaudited accounts Contents
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Eltican Technologies Ltd Company Information for the period from 7 February 2022 to 31 December 2022
Directors
M L Akkar M Planes
Company Number
13898088 (England and Wales)
Registered Office
First Floor 129 High Street Guildford GU1 3AA UK
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Eltican Technologies Ltd Statement of financial position as at 31 December 2022
2022 
Notes
£ 
Fixed assets
Tangible assets
5,679 
Current assets
Debtors
25,175 
Cash at bank and in hand
78,197 
103,372 
Creditors: amounts falling due within one year
(78,869)
Net current assets
24,503 
Total assets less current liabilities
30,182 
Provisions for liabilities
Deferred tax
(1,420)
Net assets
28,762 
Capital and reserves
Called up share capital
5,000 
Profit and loss account
23,762 
Shareholders' funds
28,762 
For the period ending 31 December 2022 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 directors acknowledge their 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 of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by
M Planes Director Company Registration No. 13898088
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Eltican Technologies Ltd Notes to the Accounts for the period from 7 February 2022 to 31 December 2022
1
Statutory information
Eltican Technologies Ltd is a private company, limited by shares, registered in England and Wales, registration number 13898088. The registered office is First Floor, 129 High Street, Guildford, GU1 3AA, UK.
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% straight line
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Eltican Technologies Ltd Notes to the Accounts for the period from 7 February 2022 to 31 December 2022
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting polices. In preparing these financial statements, the directors have made the following judgements: Determine whether there are indicators of impairment of the company's tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. Other key sources of estimation uncertainty: Tangible fixed assets (note 4) Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 7 February 2022
- 
Additions
6,708 
At 31 December 2022
6,708 
Depreciation
Charge for the period
1,029 
At 31 December 2022
1,029 
Net book value
At 31 December 2022
5,679 
5
Debtors
2022 
£ 
Amounts falling due within one year
VAT
10,475 
Accrued income and prepayments
4,900 
Other debtors
9,800 
25,175 
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Eltican Technologies Ltd Notes to the Accounts for the period from 7 February 2022 to 31 December 2022
6
Creditors: amounts falling due within one year
2022 
£ 
Amounts owed to group undertakings and other participating interests
74,766 
Taxes and social security
4,103 
78,869 
Amounts owed to group undertakings are unsecured, non interest bearing and repayable on demand.
7
Transactions with related parties
The company has taken advantage of the exemption available in Section 33.1A of FRS 102 not to disclose transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.
8
Controlling party
The immediate parent and controlling party of the company is Eltican Asset Management SAS, a company registered in France. Its registered office address is 24 Rue De Clichy, 75009, Paris, France.
9
Average number of employees
During the period the average number of employees was 2.
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