Company Registration No. 5177937 (England and Wales)
Element 78 Solutions Limited
Unaudited accounts
for the year ended 31 March 2021
Element 78 Solutions Limited
Statement of financial position
as at
31 March 2021
Cash at bank and in hand
83,610
103,929
Creditors: amounts falling due within one year
(366,427)
(322,551)
Net current (liabilities)/assets
(35,842)
156,948
Total assets less current liabilities
(35,717)
157,359
Creditors: amounts falling due after more than one year
(46,296)
-
Net (liabilities)/assets
(82,013)
157,359
Called up share capital
600
600
Capital redemption reserve
400
400
Profit and loss account
(83,013)
156,359
Shareholders' funds
(82,013)
157,359
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 November 2021 and were signed on its behalf by
I Rhodes
Director
Company Registration No. 5177937
Element 78 Solutions Limited
Notes to the Accounts
for the year ended 31 March 2021
Element 78 Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 5177937. The registered office is 470 BATH ROAD, BRISTOL, BS4 3AP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
(including bicycles) 25% per annum straight line basis
Fixtures & fittings
(costs of fitting out offices) - 10% per annum straight line basis
Computer equipment
25% per annum straight line basis
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2020
5,839
20,146
30,442
56,427
At 31 March 2021
5,839
20,146
30,442
56,427
At 1 April 2020
5,428
20,146
30,442
56,016
Charge for the year
286
-
-
286
At 31 March 2021
5,714
20,146
30,442
56,302
At 31 March 2021
125
-
-
125
At 31 March 2020
411
-
-
411
Element 78 Solutions Limited
Notes to the Accounts
for the year ended 31 March 2021
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
71,324
305,317
Accrued income and prepayments
81,287
70,253
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
3,704
-
Trade creditors
52,194
36,537
Taxes and social security
133,016
113,141
Other creditors
6,864
7,395
Deferred income
135,719
151,808
7
Creditors: amounts falling due after more than one year
2021
2020
Aggregate of amounts that fall due for payment after five years
24,074
-
8
Share capital
2021
2020
Allotted, called up and fully paid:
600 Ordinary shares of £1 each
600
600
The company is controlled by I Rhodes.
10
Average number of employees
During the year the average number of employees was 25 (2020: 22).