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REGISTERED NUMBER: 05153334 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024

FOR

ITS ELIXIR (UK) LIMITED

ITS ELIXIR (UK) LIMITED (REGISTERED NUMBER: 05153334)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30th June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ITS ELIXIR (UK) LIMITED

COMPANY INFORMATION
for the Year Ended 30th June 2024







DIRECTORS: Mr L Birkett
Mrs S M Birkett





SECRETARY: Mrs S M Birkett





REGISTERED OFFICE: 43a Millbrook Road
Kingstown
Carlisle
Cumbria
CA3 0EU





REGISTERED NUMBER: 05153334 (England and Wales)





ACCOUNTANTS: DCB Accountants Limited
Compton House
104 Scotland Road
Penrith
Cumbria
CA11 7NR

ITS ELIXIR (UK) LIMITED (REGISTERED NUMBER: 05153334)

BALANCE SHEET
30th June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,656 7,312
Tangible assets 5 562 749
4,218 8,061

CURRENT ASSETS
Stocks 6 2,280 3,681
Cash at bank 18,141 23,009
20,421 26,690
CREDITORS
Amounts falling due within one year 7 67,774 97,785
NET CURRENT LIABILITIES (47,353 ) (71,095 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(43,135

)

(63,034

)

CAPITAL AND RESERVES
Called up share capital 8 160 160
Retained earnings 9 (43,295 ) (63,194 )
SHAREHOLDERS' FUNDS (43,135 ) (63,034 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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 5th March 2025 and were signed on its behalf by:




Mrs S M Birkett - Director


ITS ELIXIR (UK) LIMITED (REGISTERED NUMBER: 05153334)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30th June 2024

1. STATUTORY INFORMATION

Its Elixir (UK) Limited 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared on the basis that the Company will continue to receive full managerial and financial support from its Directors, as referred to in note 10 below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Website development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% 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.

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.

3. EMPLOYEES AND DIRECTORS

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

ITS ELIXIR (UK) LIMITED (REGISTERED NUMBER: 05153334)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th June 2024

4. INTANGIBLE FIXED ASSETS
Website
development
costs
£   
COST
At 1st July 2023
and 30th June 2024 36,559
AMORTISATION
At 1st July 2023 29,247
Amortisation for year 3,656
At 30th June 2024 32,903
NET BOOK VALUE
At 30th June 2024 3,656
At 30th June 2023 7,312

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st July 2023
and 30th June 2024 11,736
DEPRECIATION
At 1st July 2023 10,987
Charge for year 187
At 30th June 2024 11,174
NET BOOK VALUE
At 30th June 2024 562
At 30th June 2023 749

6. STOCKS
30.6.24 30.6.23
£    £   
Closing stock 2,280 3,681

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 2,607 1,420
VAT 788 2,243
Directors' current accounts 63,889 94,122
Accrued expenses 490 -
67,774 97,785

ITS ELIXIR (UK) LIMITED (REGISTERED NUMBER: 05153334)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th June 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
160 Ordinary £1 160 160

9. RESERVES
Retained
earnings
£   

At 1st July 2023 (63,194 )
Profit for the year 19,899
At 30th June 2024 (43,295 )

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As mentioned in note 8 above, the Directors of the Company continue to make funding available to the Company. This funding has been made available to the Company so that it can develop a broad product base over a number of years and the Directors do not expect this funding to be repaid in the foreseeable future.

As at 30 June 2024, the amount owing to the Company Directors was £63,889 ( 2023 - £94,122 ).