Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
|
|
|
Tangible assets | 4 |
|
|
|
1,291 | 3,187 | |||
Current assets | ||||
Debtors | 5 |
|
|
|
Cash at bank and in hand |
|
|
||
21,080 | 10,508 | |||
Creditors: amounts falling due within one year | 6 | (
|
(
|
|
Net current liabilities | (100,501) | (118,395) | ||
Total assets less current liabilities | (99,210) | (115,208) | ||
Net liabilities | (
|
(
|
||
Capital and reserves | ||||
Called-up share capital | 7 |
|
|
|
Profit and loss account | (
|
(
|
||
Total shareholder's deficit | (
|
(
|
Director's responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of The Family Elephant Limited (registered number:
J C J Dent
Director |
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.
The Family Elephant 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 3rd Floor Eagle Tower, Montpellier Drive, Cheltenham, GL50 1TA, 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 £.
The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £99,210. The Company is supported through loans a connected Company. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the connected Company will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met 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 is recognised when the significant risks and rewards are considered to have been transferred to the customer.
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 Statement of Financial Position date.
Computer software |
|
Fixtures and fittings |
|
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.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
|
|
Computer software | Total | ||
£ | £ | ||
Cost | |||
At 01 January 2024 |
|
|
|
At 31 December 2024 |
|
|
|
Accumulated amortisation | |||
At 01 January 2024 |
|
|
|
Charge for the financial year |
|
|
|
At 31 December 2024 |
|
|
|
Net book value | |||
At 31 December 2024 |
|
|
|
At 31 December 2023 |
|
|
Fixtures and fittings | Total | ||
£ | £ | ||
Cost | |||
At 01 January 2024 |
|
|
|
At 31 December 2024 |
|
|
|
Accumulated depreciation | |||
At 01 January 2024 |
|
|
|
Charge for the financial year |
|
|
|
At 31 December 2024 |
|
|
|
Net book value | |||
At 31 December 2024 |
|
|
|
At 31 December 2023 |
|
|
2024 | 2023 | ||
£ | £ | ||
Prepayments |
|
|
|
Other debtors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Trade creditors |
|
|
|
Amounts owed to connected companies |
|
|
|
Accruals |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
|
|
|