3 false false false false false false false false false false true false false false false false false No description of principal activity 2022-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07952021 2022-03-01 2023-02-28 07952021 2023-02-28 07952021 2022-02-28 07952021 2021-03-01 2022-02-28 07952021 2022-02-28 07952021 2021-02-28 07952021 bus:Director1 2022-03-01 2023-02-28 07952021 core:WithinOneYear 2023-02-28 07952021 core:WithinOneYear 2022-02-28 07952021 bus:Director1 2022-02-28 07952021 bus:Director1 2023-02-28 07952021 bus:Director1 2021-02-28 07952021 bus:Director1 2022-02-28 07952021 bus:Director1 2021-03-01 2022-02-28 07952021 bus:Micro-entities 2022-03-01 2023-02-28 07952021 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 07952021 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 07952021 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 07952021 bus:FullAccounts 2022-03-01 2023-02-28
COMPANY REGISTRATION NUMBER: 07952021
Element Labs Ltd
Filleted Unaudited Financial Statements
28 February 2023
Element Labs Ltd
Statement of Financial Position
28 February 2023
2023
2022
£
£
£
£
Fixed assets
194,078
201,508
----------
----------
Current assets
129,621
114,577
Prepayments and accrued income
132
930
----------
----------
129,753
115,507
Creditors: amounts falling due within one year
29,652
40,165
----------
----------
Net Current Assets
100,101
75,342
----------
----------
Total Assets Less Current Liabilities
294,179
276,850
Accruals and deferred income
3,973
2,068
----------
----------
290,206
274,782
----------
----------
Capital and reserves
290,206
274,782
----------
----------
Notes to the Financial Statements
1. Employee Numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
2. Director's Advances, Credits and Guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr D W Bassett
36,899
8,329
( 54,420)
( 9,192)
---------
-------
---------
-------
2022
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr D W Bassett
( 14,152)
67,051
( 16,000)
36,899
---------
---------
---------
---------
Interest has been charged on the loan at 2% on any period overdrawn. The loan is repayable on demand.
For the year ending 28th February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the micro-entity provisions and have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved by the board of directors and authorised for issue on 14 November 2023 , and are signed on behalf of the board by:
Mr D W Bassett
Director
Company registration number: 07952021
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 52 Woodfield Road, Shrewsbury, SY3 8RX.