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Unaudited Financial Statements for the Year Ended 28 February 2022 |
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Elsecom Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 28 February 2022 |
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for |
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Elsecom Limited |
Elsecom Limited (Registered number: 06123982) |
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Contents of the Financial Statements |
for the Year Ended 28 February 2022 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Elsecom Limited |
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Company Information |
for the Year Ended 28 February 2022 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
637 Green Lanes |
London |
N8 0RE |
Elsecom Limited (Registered number: 06123982) |
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Balance Sheet |
28 February 2022 |
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28.2.22 | 28.2.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one
year |
7 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more
than one year |
8 |
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NET (LIABILITIES)/ASSETS | ( |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings | 10 | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
Elsecom Limited (Registered number: 06123982) |
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Balance Sheet - continued |
28 February 2022 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised
for issue on
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Elsecom Limited (Registered number: 06123982) |
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Notes to the Financial Statements |
for the Year Ended 28 February 2022 |
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1. | STATUTORY INFORMATION |
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Elsecom Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The financial statements have been prepared on the going concern basis. This assumes that the company will continue in operational existence for the foreseeable future. |
At the balance sheet date, the company's liabilities for the period from 1 March 2021 to 28 February 2022 exceed its assets. The director of the company has sought assurance from the creditors that their debts will not be called in within the next twelve months. |
The director has been therefore deemed it appropriate that the financial statements be prepared on the going concern basis. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Elsecom Limited (Registered number: 06123982) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2022 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 March 2021 |
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Additions |
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Disposals |
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At 28 February 2022 |
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DEPRECIATION |
At 1 March 2021 |
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Charge for year |
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Eliminated on disposal |
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At 28 February 2022 |
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NET BOOK VALUE |
At 28 February 2022 |
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At 28 February 2021 |
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5. | STOCKS |
28.2.22 | 28.2.21 |
£ | £ |
Stocks |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.22 | 28.2.21 |
£ | £ |
Trade debtors |
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Other debtors |
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Tax recoverable |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.22 | 28.2.21 |
£ | £ |
Trade creditors |
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Wages control account | - | 170 |
Directors' current accounts | 150,882 | 76,195 |
Accrued expenses |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
28.2.22 | 28.2.21 |
£ | £ |
Bank loans - 1-2 years |
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Elsecom Limited (Registered number: 06123982) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2022 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 28.2.22 | 28.2.21 |
value: | £ | £ |
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Ordinary | £1 | 1,000 | 1,000 |
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Ordinary A | £1 | 1,000 | 1,000 |
2,000 | 2,000 |
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10. | RESERVES |
Retained |
earnings |
£ |
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At 1 March 2021 |
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Deficit for the year | ( |
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At 28 February 2022 | ( |
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11. | RELATED PARTY DISCLOSURES |
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During the year, no dividend was paid to the directors. |
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12. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by the directors of the company. |