Registration number:
Elliot James Group Ltd
for the Year Ended 30 June 2020
Elliot James Group Ltd
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Elliot James Group Ltd
Company Information
Director |
Mr Martin Webb |
Registered office |
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Accountants |
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Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Elliot James Group Ltd
for the Year Ended 30 June 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Elliot James Group Ltd for the year ended 30 June 2020 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the Board of Directors of Elliot James Group Ltd, as a body, in accordance with the terms of our engagement letter dated 27 April 2018. Our work has been undertaken solely to prepare for your approval the accounts of Elliot James Group Ltd and state those matters that we have agreed to state to the Board of Directors of Elliot James Group Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elliot James Group Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Elliot James Group Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Elliot James Group Ltd. You consider that Elliot James Group Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Elliot James Group Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Chartered Certified Accountants
Manchester
M2 4AH
Elliot James Group Ltd
(Registration number: 10917073)
Balance Sheet as at 30 June 2020
Note |
2020 |
2019 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets/(liabilities) |
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( |
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Net assets/(liabilities) |
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( |
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Capital and reserves |
|||
Called up share capital |
100 |
100 |
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Profit and loss account |
10,634 |
(2,800) |
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Shareholders' funds/(deficit) |
10,734 |
(2,700) |
For the financial year ending 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.
Approved and authorised by the
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Director
Elliot James Group Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in sterling which is the functional currency of the company.
Summary of disclosure exemptions
The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.
Group accounts not prepared
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore they continue to adopt the going concern basis of accounting in the preparation of the financial statements.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Elliot James Group Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2020
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Investments |
2020 |
2019 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 July 2019 |
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Additions |
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Disposals |
( |
At 30 June 2020 |
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Provision |
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Carrying amount |
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At 30 June 2020 |
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At 30 June 2019 |
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Elliot James Group Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2020
Debtors |
2020 |
2019 |
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Other debtors |
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- |
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- |
Creditors |
Note |
2020 |
2019 |
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Due within one year |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2020 |
2019 |
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No. |
£ |
No. |
£ |
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100 |
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100 |