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Company No: 06924127 (England and Wales)

ELEMENTS URNS AND MEMORIALS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

ELEMENTS URNS AND MEMORIALS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

ELEMENTS URNS AND MEMORIALS LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
ELEMENTS URNS AND MEMORIALS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Mr D M Loram
Mr S W Loram
SECRETARY Mr S W Loram
REGISTERED OFFICE 17 Holwell Road
Brixham
TQ5 9NE
England
United Kingdom
COMPANY NUMBER 06924127 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
ELEMENTS URNS AND MEMORIALS LIMITED

BALANCE SHEET

As at 31 March 2024
ELEMENTS URNS AND MEMORIALS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
2024 2023
£ £
Current assets
Stocks 15,886 17,164
Debtors 3 2,324 5,646
Cash at bank and in hand 31,161 26,573
49,371 49,383
Creditors: amounts falling due within one year 4 ( 20,757) ( 29,705)
Net current assets 28,614 19,678
Total assets less current liabilities 28,614 19,678
Net assets 28,614 19,678
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account 28,514 19,578
Total shareholders' funds 28,614 19,678

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Elements Urns and Memorials Limited (registered number: 06924127) were approved and authorised for issue by the Board of Directors on 02 August 2024. They were signed on its behalf by:

Mr S W Loram
Director
Mr D M Loram
Director
ELEMENTS URNS AND MEMORIALS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
ELEMENTS URNS AND MEMORIALS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Elements Urns and Memorials Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 17 Holwell Road, Brixham, TQ5 9NE, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Debtors

2024 2023
£ £
Trade debtors 2,324 5,646

4. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 1,624 1,624
Amounts owed to directors 13,328 22,704
Accruals 1,363 1,633
Corporation tax 4,442 3,744
20,757 29,705

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Oridnary ordinary shares of £ 1.00 each 100 100