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Company Registration No. 10309136 (England and Wales)
Elfin Market Ltd Unaudited accounts for the year ended 31 December 2023
Elfin Market Ltd Unaudited accounts Contents
Page
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Elfin Market Ltd Company Information for the year ended 31 December 2023
Directors
Mansour Bouaziz Lakshithe Wagalath
Company Number
10309136 (England and Wales)
Registered Office
Flat B 40 Earlham Street London WC2H 9LH United Kingdom
Accountants
The Accountancy Cloud 1 Fore Street Avenue London EC2Y 9DT
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Elfin Market Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
29,402 
37,788 
Current assets
Debtors
65,159 
170,772 
Cash at bank and in hand
421,647 
83,134 
486,806 
253,906 
Creditors: amounts falling due within one year
(465,614)
(291,031)
Net current assets/(liabilities)
21,192 
(37,125)
Net assets
50,594 
663 
Capital and reserves
Called up share capital
5 
5 
Share premium
5,782,205 
3,931,786 
Capital contribution reserve
54,600 
147,994 
Profit and loss account
(5,786,216)
(4,079,122)
Shareholders' funds
50,594 
663 
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. 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 20 November 2024 and were signed on its behalf by
Mansour Bouaziz Director Company Registration No. 10309136
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Elfin Market Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Elfin Market Ltd is a private company, limited by shares, registered in England and Wales, registration number 10309136. The registered office is Flat B, 40 Earlham Street, London, WC2H 9LH, United Kingdom.
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 year, 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.
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:
Fixtures & fittings
20% Straight Line
Computer equipment
20% Straight Line
Going concern
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
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 sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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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Elfin Market Ltd Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
1,094 
55,108 
56,202 
Additions
- 
2,941 
2,941 
At 31 December 2023
1,094 
58,049 
59,143 
Depreciation
At 1 January 2023
182 
18,232 
18,414 
Charge for the year
219 
11,108 
11,327 
At 31 December 2023
401 
29,340 
29,741 
Net book value
At 31 December 2023
693 
28,709 
29,402 
At 31 December 2022
912 
36,876 
37,788 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
34,999 
140,612 
Amounts falling due after more than one year
Other debtors
30,160 
30,160 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
143,440 
105,247 
Taxes and social security
252,102 
178,659 
Other creditors
2,252 
2,393 
Loans from directors
63,000 
- 
Accruals
4,820 
4,732 
465,614 
291,031 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1,792,326 Ordinary shares of £0.000003 each
5.37 
4.93 
Shares issued during the period:
147,932 Ordinary shares of £0.000003 each
0.44 
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Elfin Market Ltd Notes to the Accounts for the year ended 31 December 2023
8
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 December 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
- 
111,804 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mansour Bouaziz
- 
63,000 
- 
63,000 
- 
63,000 
- 
63,000 
10
Average number of employees
During the year the average number of employees was 12 (2022: 12).
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