ACCOUNTS - Final Accounts preparation

Company registration number: 11354647

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE PERIOD ENDED 31 MARCH 2019

	ELCHLOMEL INVESTMENTS LIMITED


ELCHLOMEL INVESTMENTS LIMITED

COMPANY INFORMATION

Directors	D J Lyons (appointed 10 May 2018)
	M B E Lyons (appointed 10 May 2018)


Registered number	11354647


Registered office	Knowl Hill House Knowl Hill Common
	Knowl Hill
	Reading
	Berkshire
	RG10 9YD


Accountants	Menzies LLP
	Chartered Accountants
	Ashcombe House
	5 The Crescent
	Leatherhead
	Surrey
	KT22 8DY


ELCHLOMEL INVESTMENTS LIMITED

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 4


ELCHLOMEL INVESTMENTS LIMITED REGISTERED NUMBER:11354647

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2019

		2019
Note		£

Fixed assets
Investments	4		1,250,000
			1,250,000
Current assets
Debtors: amounts falling due within one year		36,173
Cash at bank and in hand		4
		36,177
Creditors: amounts falling due within one year	6	(1,216,949)
Net current liabilities			(1,180,772)
Total assets less current liabilities			69,228

Net assets			69,228

Capital and reserves
Share capital	7	71
Profit and loss account		69,157
		69,228

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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:

D J Lyons

Director

Date: 13 November 2019

The notes on pages 2 to 4 form part of these financial statements.

Page 1


ELCHLOMEL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2019

1.	General information

Elchlomel Investments Limited is a company limited by shares incorporated in England and Wales. The address of the registered office is given in the company information page of these financial statements.

2.Accounting policies

2.1

Basis of preparation of financial statements

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 following principal accounting policies have been applied:

2.2

Going concern

At 31 March 2019 the statement of financial position reports net current liabilities of £1,180,772. The company is reliant upon the continued support of its directors, who confirm their continued financial support of the company. The directors therefore consider it appropriate to prepare the accounts on a going concern basis.

2.3

Taxation

Tax is recognised in the Statement of Income and Retained Earnings, 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 reporting date in the countries where the Company operates and generates income.

2.4

Valuation of investments

Investments where market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Employees

The average monthly number of employees, including directors, during the period was 2.

Page 2


ELCHLOMEL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2019

4.	Fixed asset investments

		Unlisted investments
		£
	Cost or valuation
	Additions	1,250,000
	At 31 March 2019	1,250,000

Debtors

					2019
					£


	Prepayments and accrued income	36,173
		36,173

6.	Creditors: Amounts falling due within one year
		2019
		£

	Corporation tax	17,630
	Other creditors	1,196,979
	Accruals and deferred income	2,340
		1,216,949

7.	Share capital
		2019
		£

		Allotted, called up and fully paid

		6 Ordinary shares of £1.00 each	6
		1,500 Ordinary A shares of £0.01 each	15
		1,500 Ordinary B shares of £0.01 each	15
		1,500 Ordinary C shares of £0.01 each	15
		10 Ordinary D shares of £1.00 each	10
		10 Ordinary E shares of £1.00 each	10

			71

Page 3


ELCHLOMEL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2019

8.	Related party transactions
	Included within other creditors is an amount of £1,196,979 owed to the directors. No interest was charged on this loan.

Page 4