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Company Registration No. 13391634 (England and Wales)
Elemental GI Ltd Unaudited accounts for the year ended 31 July 2024
Elemental GI Ltd Unaudited accounts Contents
Page
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Elemental GI Ltd Company Information for the year ended 31 July 2024
Director
James Regan
Company Number
13391634 (England and Wales)
Registered Office
Suite 8 Riverside Business Centre Foundry Lane Milford, Belper DE56 0RN
Accountants
RLTP Accountants Suite 8, Riverside Business Centre Foundry Lane Milford, Belper Derbyshire DE56 0RN
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Elemental GI Ltd Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
11,305 
14,624 
Current assets
Debtors
57,374 
38,628 
Cash at bank and in hand
118,430 
97,300 
175,804 
135,928 
Creditors: amounts falling due within one year
(52,919)
(46,641)
Net current assets
122,885 
89,287 
Net assets
134,190 
103,911 
Capital and reserves
Profit and loss account
134,190 
103,911 
Shareholders' funds
134,190 
103,911 
For the year ending 31 July 2024 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 director acknowledges his 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 and authorised for issue on 3 December 2024 and were signed on its behalf by
James Regan Director Company Registration No. 13391634
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Elemental GI Ltd Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Elemental GI Ltd is a private company, limited by shares, registered in England and Wales, registration number 13391634. The registered office is Suite 8 Riverside Business Centre, Foundry Lane, Milford, Belper, DE56 0RN.
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:
Plant & machinery
20% RB
Computer equipment
33% SL
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.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2023
5,037 
19,650 
1,023 
25,710 
Additions
- 
- 
637 
637 
At 31 July 2024
5,037 
19,650 
1,660 
26,347 
Depreciation
At 1 August 2023
1,813 
8,597 
676 
11,086 
Charge for the year
645 
2,763 
548 
3,956 
At 31 July 2024
2,458 
11,360 
1,224 
15,042 
Net book value
At 31 July 2024
2,579 
8,290 
436 
11,305 
At 31 July 2023
3,224 
11,053 
347 
14,624 
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Elemental GI Ltd Notes to the Accounts for the year ended 31 July 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
57,374 
38,628 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
4,634 
5,365 
Trade creditors
25,145 
7,728 
Taxes and social security
23,146 
16,763 
Other creditors
(774)
(774)
Loans from directors
768 
17,559 
52,919 
46,641 
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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