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COMPANY REGISTRATION NUMBER: 11087636
ELAN CITY LTD
Filleted Unaudited Financial Statements
31 December 2023
ELAN CITY LTD
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Current assets
Stocks
118,267
107,310
Debtors
4
294,917
382,574
Cash at bank and in hand
82,961
160,045
---------
---------
496,145
649,929
Creditors: amounts falling due within one year
5
517,846
693,315
---------
---------
Net current liabilities
21,701
43,386
--------
--------
Total assets less current liabilities
( 21,701)
( 43,386)
--------
--------
Net liabilities
( 21,701)
( 43,386)
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 21,702)
( 43,387)
--------
--------
Shareholders deficit
( 21,701)
( 43,386)
--------
--------
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 income and retained earnings has not been delivered.
For the year ending 31 December 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 were approved by the board of directors and authorised for issue on 16 May 2024 , and are signed on behalf of the board by:
MR C. CESBRON
Director
Company registration number: 11087636
ELAN CITY LTD
Notes to the Financial Statements
Year ended 31 December 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 208 Blythe Road, London, W14 0HH.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Debtors
2023
2022
£
£
Trade debtors
294,017
382,573
Other debtors
900
1
---------
---------
294,917
382,574
---------
---------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
436,860
591,557
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,999
Social security and other taxes
65,523
86,086
Other creditors
13,464
15,672
---------
---------
517,846
693,315
---------
---------
6. Financial instruments
Where reduced disclosures are applied, disclosures from the Companies Act 2006 still need to be made regarding the fair value of the instruments in each category and the changes in value recognised in profit and loss. Disclosures of the significant assumptions underlying the valuation models and techniques used, and extent and nature of derivative instruments are also required.