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REGISTERED NUMBER: 11743316 (England and Wales)





ELEMY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






ELEMY LTD (REGISTERED NUMBER: 11743316)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELEMY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr R A Brine
Miss C V Murphy





REGISTERED OFFICE: G R P & Metalwork
Tod Point Road, Warrenby
Redcar
North Yorkshire
TS10 5BA





REGISTERED NUMBER: 11743316 (England and Wales)





ACCOUNTANTS: ApC
Chartered Accountants
7 St John Street
Mansfield
Nottinghamshire
NG18 1QH

ELEMY LTD (REGISTERED NUMBER: 11743316)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 97,276 152,488
Tangible assets 6 817,165 664,459
914,441 816,947

CURRENT ASSETS
Stocks 351,570 447,183
Debtors 7 639,154 371,389
Cash at bank 678,718 298,182
1,669,442 1,116,754
CREDITORS
Amounts falling due within one year 8 1,671,619 1,062,706
NET CURRENT (LIABILITIES)/ASSETS (2,177 ) 54,048
TOTAL ASSETS LESS CURRENT
LIABILITIES

912,264

870,995

CREDITORS
Amounts falling due after more than one
year

9

(357,089

)

(373,242

)

PROVISIONS FOR LIABILITIES (55,298 ) (47,600 )
NET ASSETS 499,877 450,153

CAPITAL AND RESERVES
Called up share capital 11 800 800
Retained earnings 499,077 449,353
SHAREHOLDERS' FUNDS 499,877 450,153

ELEMY LTD (REGISTERED NUMBER: 11743316)

BALANCE SHEET - continued
31 MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2024 and were signed on its behalf by:





Mr R A Brine - Director


ELEMY LTD (REGISTERED NUMBER: 11743316)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Elemy Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value excluding Value Added Tax of goods and services provided to customers during the year. In respect of goods and services provided, all income is taken to profit and loss at the same point as the right to receive consideration has been acquired.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% straight line
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

ELEMY LTD (REGISTERED NUMBER: 11743316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

ELEMY LTD (REGISTERED NUMBER: 11743316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

5. INTANGIBLE FIXED ASSETS
Development Computer
costs software Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 276,067 7,460 283,527
AMORTISATION
At 1 April 2023 123,579 7,460 131,039
Amortisation for year 55,212 - 55,212
At 31 March 2024 178,791 7,460 186,251
NET BOOK VALUE
At 31 March 2024 97,276 - 97,276
At 31 March 2023 152,488 - 152,488

ELEMY LTD (REGISTERED NUMBER: 11743316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 627,777 45,033 12,372
Additions 97,914 43,232 10,637
At 31 March 2024 725,691 88,265 23,009
DEPRECIATION
At 1 April 2023 12,556 6,210 4,640
Charge for year 14,210 12,111 2,431
At 31 March 2024 26,766 18,321 7,071
NET BOOK VALUE
At 31 March 2024 698,925 69,944 15,938
At 31 March 2023 615,221 38,823 7,732

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 1,400 3,686 690,268
Additions 25,820 11,523 189,126
At 31 March 2024 27,220 15,209 879,394
DEPRECIATION
At 1 April 2023 321 2,082 25,809
Charge for year 3,729 3,939 36,420
At 31 March 2024 4,050 6,021 62,229
NET BOOK VALUE
At 31 March 2024 23,170 9,188 817,165
At 31 March 2023 1,079 1,604 664,459

ELEMY LTD (REGISTERED NUMBER: 11743316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 586,373 366,012
Tax debtor 10,000 4,036
Prepayments and accrued income 42,781 1,341
639,154 371,389

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 16,166 15,877
Other loans 687,003 200,000
Trade creditors 421,823 720,879
Corporation tax 33,721 9,350
Social security and other taxes 14,863 6,081
Pension control 1,697 995
VAT 52,368 19,824
Other creditors 3,193 2,126
Directors' current accounts 330,102 38,202
Accruals and deferred income 110,683 49,372
1,671,619 1,062,706

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 16,166 17,044
Bank loans - 2-5 years 48,498 58,912
Bank loans - 5 plus years 292,425 297,286
357,089 373,242

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - 5 plus years 292,425 297,286

ELEMY LTD (REGISTERED NUMBER: 11743316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 373,255 389,119

The loan is secured against the property it relates too.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
300 Ordinary £1 300 400
299 Ordinary A £1 299 400
201 Ordinary B £1 201 -
800 800

During this period there were 100 Ordinary £1 shares and 101 Ordinary A £1 shares transferred into Ordinary B shares.