Elms Cross Packaging Company Limited Filleted accounts for Companies House (small and micro)

Elms Cross Packaging Company Limited Filleted accounts for Companies House (small and micro)

ELMS CROSS PACKAGING COMPANY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03784022
ELMS CROSS PACKAGING COMPANY LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
YEAR ENDED
31 March 2019
ELMS CROSS PACKAGING COMPANY LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2019
Contents
Page
Balance sheet
1
Notes to the financial statements
3
ELMS CROSS PACKAGING COMPANY LIMITED
BALANCE SHEET
31 March 2019
2019
2018
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
–
2,650
CURRENT ASSETS
Stocks
–
54,309
Debtors
6
–
111,519
Cash at bank and in hand
1,034
109,356
-------
---------
1,034
275,184
CREDITORS: amounts falling due within one year
7
1,032
85,602
-------
---------
NET CURRENT ASSETS
2
189,582
----
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
2
192,232
----
---------
NET ASSETS
2
192,232
----
---------
CAPITAL AND RESERVES
Called up share capital
2
2
Profit and loss account
–
192,230
----
---------
SHAREHOLDERS FUNDS
2
192,232
----
---------
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 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 profit and loss account has not been delivered.
For the year ending 31 March 2019 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 .
ELMS CROSS PACKAGING COMPANY LIMITED
BALANCE SHEET (continued)
31 March 2019
These financial statements were approved by the board of directors and authorised for issue on 19 December 2019 , and are signed on behalf of the board by:
A G Kelly
Director
Company registration number: 03784022
ELMS CROSS PACKAGING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2019
1. General information
The company is a private company limited by shares, incorporated and registered in England and Wales. The address of the registered office is Union Park, Bircholt Road, Maidstone, Kent, ME15 9XT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 in accordance with FRS 102. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Plant and machinery
-
20% reducing balance
Fixtures and fittings
-
20% reducing balance
Motor vehicles
-
20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company. Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2018: 4 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2018
15,085
9,387
10,500
34,972
Disposals
( 15,085)
( 9,387)
( 10,500)
( 34,972)
--------
-------
--------
--------
At 31 March 2019
–
–
–
–
--------
-------
--------
--------
Depreciation
At 1 April 2018
13,814
8,189
10,319
32,322
Disposals
( 13,814)
( 8,189)
( 10,319)
( 32,322)
--------
-------
--------
--------
At 31 March 2019
–
–
–
–
--------
-------
--------
--------
Carrying amount
At 31 March 2019
–
–
–
–
--------
-------
--------
--------
At 31 March 2018
1,271
1,198
181
2,650
--------
-------
--------
--------
6. Debtors
2019
2018
£
£
Trade debtors
–
109,499
Other debtors
–
2,020
----
---------
–
111,519
----
---------
7. Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
–
71,392
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,032
–
Social security and other taxes
–
8,234
Other creditors
–
5,976
-------
--------
1,032
85,602
-------
--------
8. Other financial commitments
Future minimum rentals payable under non-cancellable operating leases total £181,448 as at 31 March 2019 (2018 - £213,948). Further to the transfer of trade, assets and liabilities to Leonard Gould & Company,Limited these future payments have all been transferred as well.
9. Related party transactions
Elms Cross Packaging Company Limited is under the immediate control of Leonard Gould & Company,Limited which is incorporated in the United Kingdom and holds 100% of the company's issued share capital. This company is in turn under the immediate control of Leonard Gould Holdings Limited which is also incorporated in the United Kingdom and holds 100% of the company's issued share capital. Leonard Gould Holdings Limited is under the control of A G Kelly .
10. Going concern
The company's trade and net assets were transferred into Leonard Gould & Company,Limited, the parent company, on 1 April 2018. The company has not traded since this date and is considering other opportunities, but at present it is uncertain whether a suitable opportunity will arise.