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Registered number: 02499874
Elmecon Limited
Financial statements
For the Period Ended 31 December 2024
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Elmecon Limited
Contents
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Notes to the Financial Statements
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Elmecon Limited
Registered number: 02499874
Balance Sheet
As at 31 December 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 2 to 7 form part of these financial statements.
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Elmecon Limited
Notes to the Financial Statements
For the Period Ended 31 December 2024
Elmecon Limited is a private company, limited by shares. The company is incorporated in England, registered number 02499874. The address of the registered office is C/O Mss Products Ltd Bankfield Road, Tyldesley, Manchester, England, M29 8QH.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The reporting period is the 9 months ended 31 December 2024. As the previous reporting period was the 10 months ended 31 March 2024, the comparative amounts presented in the financial statements are not entirely comparable.
The following principal accounting policies have been applied:
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Foreign currency translation
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Functional and presentation currency
The company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss within 'administrative expenses'.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of turnover can be measured reliably;
∙it is probable that the company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
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Elmecon Limited
Notes to the Financial Statements
For the Period Ended 31 December 2024
2.Accounting policies (continued)
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Interest income is recognised in profit or loss using the effective interest method.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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Elmecon Limited
Notes to the Financial Statements
For the Period Ended 31 December 2024
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as stated below.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Short-term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price.
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The average monthly number of employees, including directors, during the period was 5 (10 months ended 31 March 2024: 8).
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Elmecon Limited
Notes to the Financial Statements
For the Period Ended 31 December 2024
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Amounts owed by group undertakings
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Prepayments and accrued income
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Elmecon Limited
Notes to the Financial Statements
For the Period Ended 31 December 2024
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Allotted, called up and fully paid
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1,000 (2024 - 1,000) Ordinary A shares of £1.00 each
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40 (2024 - 40) Ordinary B shares of £1.00 each
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The ordinary B shares carry no voting rights.
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Elmecon Limited
Notes to the Financial Statements
For the Period Ended 31 December 2024
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund. Contributions totalling £3,527 (31 March 2024: £3,913) were payable to the fund at the balance sheet date and are included in creditors.
At the beginning of the period, there was no ultimate controlling party.
During the period, on 3 April 2024, the entire share capital of Elmecon Limited was acquired by Chambertin Capital Limited, a company registered in England. The ultimate controlling party is now Stellex Capital Holdings II Luxembourg SARL, a company incorporated in Luxembourg.
The auditors' report on the financial statements for the period ended 31 December 2024 was unqualified.
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The figures presented in the accounts for the prior period, ended 31 March 2024, were unaudited. As required by auditing standards, appropriate audit evidence was gained to conclude that the opening balances are free from material misstatement.
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The audit report was signed on 26 September 2025 by Helen Besant-Roberts (Senior Statutory Auditor) on behalf of Hurst Accountants Limited.
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