ELT Songs Limited - Accounts to registrar (filleted) - small 18.2
ELT Songs Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021 |
| FOR |
| ELT SONGS LIMITED |
| ELT SONGS LIMITED (REGISTERED NUMBER: 11145238) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 January 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| ELT SONGS LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 January 2021 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 54 Sun Street |
| Waltham Abbey |
| Essex |
| EN9 1EJ |
| ELT SONGS LIMITED (REGISTERED NUMBER: 11145238) |
| BALANCE SHEET |
| 31 January 2021 |
| 2021 | 2020 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings | ( |
) | ( |
) |
| The director acknowledges his 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. |
| ELT SONGS LIMITED (REGISTERED NUMBER: 11145238) |
| BALANCE SHEET - continued |
| 31 January 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| ELT SONGS LIMITED (REGISTERED NUMBER: 11145238) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 January 2021 |
| 1. | STATUTORY INFORMATION |
| ELT Songs Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are presented in sterling (£) which is also the functional currency for the company and rounded to the nearest £. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Debtors and creditors receivable/payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| Going concern |
| During the year, the company has secured equity investment from external investors amounting to £1,452,000 which is being paid in monthly instalments. This funding will allow the company to continue developing, marketing and licencing it's learning product in the primary education sector. With this funding in place, the director is confident that the company has sufficient working capital to meet it's liabilities falling due within 12 months of the date of approval of the 2021 financial statements and thus the accounts have been drawn up on a going concern basis. |
| ELT SONGS LIMITED (REGISTERED NUMBER: 11145238) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 January 2021 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2020 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Office | and | Computer |
| equipment | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 February 2020 |
| Additions |
| At 31 January 2021 |
| DEPRECIATION |
| At 1 February 2020 |
| Charge for year |
| At 31 January 2021 |
| NET BOOK VALUE |
| At 31 January 2021 |
| At 31 January 2020 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Other debtors |
| Tax |
| VAT |
| Called up share capital not paid |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Other loans |
| Directors' current accounts | 179 | 153 |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans more 5 yr by instal |
| ELT SONGS LIMITED (REGISTERED NUMBER: 11145238) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 January 2021 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| 2021 | 2020 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 35,000 | - |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2021 | 2020 |
| £ | £ |
| Between one and five years |