ELF LIMITED - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02836327 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

FOR

ELF LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr N M Knight

Mr J Appleton

SECRETARY:

Mr G Fidler

REGISTERED OFFICE:

Units 17/18

Nimrod Way

East Dorset Trade Park

Wimborne

Dorset

BH21 7SH

REGISTERED NUMBER:

02836327 (England and Wales)

ACCOUNTANT:

David Tolson

Chartered Certified Accountant

15 Denewood Road

West Moors

Ferndown

Dorset

BH22 0LX

FIXED ASSETS

Tangible assets

4

304,648

318,324

CURRENT ASSETS

Stocks

5

314,900

296,331

Debtors

6

42,748

28,593

Cash at bank

85,100

73,841

442,748

398,765

CREDITORS

Amounts falling due within one year

7

178,619

140,699

NET CURRENT ASSETS

264,129

258,066

TOTAL ASSETS LESS CURRENT LIABILITIES

568,777

576,390

PROVISIONS FOR LIABILITIES

9

2,210

3,453

NET ASSETS

566,567

572,937

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

566,467

572,837

SHAREHOLDERS' FUNDS

566,567

572,937

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 25 April 2018 and were signed on its behalf by:

Mr N M Knight - Director

1.	STATUTORY INFORMATION

ELF 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 in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Motor vehicles

-

25% on cost

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Costs, which comprise direct production costs, are based on the method most appropriate to the

type of inventory class, but usually on a weighted average cost basis. Overheads are charged to

profit and loss as incurred. Estimated selling price less costs to complete and sell is based on the

estimated selling price of the goods less any estimated completion or selling costs likely to be

incurred on the sale.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the

period in which the related revenue is recognised. The amount of any write-down of stocks to

estimated selling price less costs to complete and sell and all losses of stocks are recognised as an

expense in the period in which the write-down or loss occurs. The amount of any reversal of any

write-down of stock is recognised as a reduction in the amount of stocks recognised as an expense

in the period in which the reversal occurs.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange

ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at

the rate of exchange ruling at the date of transaction. Exchange differences are taken into account

in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

4.	TANGIBLE FIXED ASSETS

Freehold

Motor

property

vehicles

Totals

£

£

£

COST

At 1 August 2016

and 31 July 2017

388,218

23,646

411,864

DEPRECIATION

At 1 August 2016

90,584

2,956

93,540

Charge for year

7,765

5,911

13,676

At 31 July 2017

98,349

8,867

107,216

NET BOOK VALUE

At 31 July 2017

289,869

14,779

304,648

At 31 July 2016

297,634

20,690

318,324

5.

STOCKS

31.7.17

31.7.16

£

£

Stocks

314,900

296,331

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade debtors

32,454

19,211

Other debtors

10,294

9,382

42,748

28,593

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade creditors

114,638

116,565

Taxation and social security

19,925

21,234

Other creditors

44,056

2,900

178,619

140,699

8.	SECURED DEBTS

The company's bank holds a debenture, dated 28 August 1996, which secures all monies due or

becoming due from the company to the bank by a fixed and floating charge over the undertaking

and all property and assets, present and future, of the company.

9.	PROVISIONS FOR LIABILITIES

31.7.17

31.7.16

£

£

Deferred tax

2,210

3,453

Deferred

tax

£

Balance at 1 August 2016

3,453

Credit to Income Statement during year

(1,243

)

Balance at 31 July 2017

2,210

10.	RELATED PARTY DISCLOSURES

The controlling party is Mrs H Unt, who owns 55.5% of the issued ordinary share capital of the

company.

Dividends totalling £40,750 (2016 - £41,100) were paid to the directors during the year.