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Company registration number: 12473747
Elysium CNS Ltd
Unaudited filleted financial statements
28 February 2025
Elysium CNS Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Elysium CNS Ltd
Directors and other information
Directors Mr D Darlington
Mr M Clarke
Company number 12473747
Registered office 30 Lutterworth Avenue
Runcorn
WA7 1HY
Accountant JP Gallagher & Co Ltd
106 Moston Lane East
Manchester
M40 3QL
Elysium CNS Ltd
Statement of financial position
28 February 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 6 94,857 88,768
_______ _______
94,857 88,768
Current assets
Debtors 7 131,377 124,549
Cash at bank and in hand 57,660 16,877
_______ _______
189,037 141,426
Creditors: amounts falling due
within one year 8 ( 69,954) ( 49,657)
_______ _______
Net current assets 119,083 91,769
_______ _______
Total assets less current liabilities 213,940 180,537
Provisions for liabilities ( 13,956) ( 16,865)
_______ _______
Net assets 199,984 163,672
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 199,982 163,670
_______ _______
Shareholders funds 199,984 163,672
_______ _______
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 April 2025 , and are signed on behalf of the board by:
Mr D Darlington
Director
Company registration number: 12473747
Elysium CNS Ltd
Notes to the financial statements
Year ended 28 February 2025
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 30 Lutterworth Avenue, Runcorn, WA7 1HY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
4. Staff costs
The average number of persons employed by the company during the year amounted to 6 (2024: 5 ).
The aggregate payroll costs incurred during the year were:
2025 2024
£ £
Wages and salaries 91,113 54,680
_______ _______
5. Dividends
Equity dividends
2025 2024
£ £
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year) 70,000 70,000
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 29 February 2024 21,453 91,588 113,041
Additions 26,441 - 26,441
_______ _______ _______
At 28 February 2025 47,894 91,588 139,482
_______ _______ _______
Depreciation
At 29 February 2024 3,063 21,210 24,273
Charge for the year 2,758 17,594 20,352
_______ _______ _______
At 28 February 2025 5,821 38,804 44,625
_______ _______ _______
Carrying amount
At 28 February 2025 42,073 52,784 94,857
_______ _______ _______
At 28 February 2024 18,390 70,378 88,768
_______ _______ _______
7. Debtors
2025 2024
£ £
Trade debtors 130,669 118,033
Other debtors 708 6,516
_______ _______
131,377 124,549
_______ _______
8. Creditors: amounts falling due within one year
2025 2024
£ £
Trade creditors 11,077 8,615
Corporation tax 29,985 8,022
Social security and other taxes 23,697 21,004
Other creditors 5,195 12,016
_______ _______
69,954 49,657
_______ _______
9. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2025 2024
£ £
Included in provisions (note ) 13,956 16,865
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2025 2024
£ £
Accelerated capital allowances 13,956 16,865
_______ _______
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2025
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr D Darlington ( 5,258) 3,536 ( 1,722)
Mr M Clarke ( 5,258) 3,536 ( 1,722)
_______ _______ _______
( 10,516) 7,072 ( 3,444)
_______ _______ _______
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr D Darlington ( 8,001) 2,743 ( 5,258)
Mr M Clarke ( 8,002) 2,744 ( 5,258)
_______ _______ _______
( 16,003) 5,487 ( 10,516)
_______ _______ _______