REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 31 May 2021 |
|
for |
|
ELIFINTY LTD |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 31 May 2021 |
|
for |
|
ELIFINTY LTD |
ELIFINTY LTD (REGISTERED NUMBER: 11345938) |
|
Contents of the Financial Statements |
for the year ended 31 May 2021 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Chartered Accountants' Report | 2 |
|
Balance Sheet | 3 |
|
Notes to the Financial Statements | 4 |
|
ELIFINTY LTD |
|
Company Information |
for the year ended 31 May 2021 |
|
|
|
|
|
|
|
Directors: |
|
|
|
|
|
|
|
Registered office: |
|
|
|
|
|
|
|
|
|
Registered number: |
|
|
|
|
|
|
Accountants: |
|
Chartered Accountants |
Aissela |
46 High Street |
Esher |
Surrey |
KT10 9QY |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Elifinty Ltd |
|
|
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
|
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Elifinty Ltd for the year ended 31 May 2021 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
|
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
|
This report is made solely to the Board of Directors of Elifinty Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Elifinty Ltd and state those matters that we have agreed to state to the Board of Directors of Elifinty Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elifinty Ltd and its Board of Directors, as a body, for our work or for this report. |
|
It is your duty to ensure that Elifinty Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Elifinty Ltd. You consider that Elifinty 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 financial statements of Elifinty 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 financial statements. |
|
|
|
|
|
|
|
Chartered Accountants |
Aissela |
46 High Street |
Esher |
Surrey |
KT10 9QY |
|
|
|
ELIFINTY LTD (REGISTERED NUMBER: 11345938) |
|
Balance Sheet |
31 May 2021 |
|
2021 | 2020 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
|
|
Tangible assets | 5 |
|
|
|
|
|
Current assets |
Debtors | 6 |
|
|
Cash at bank |
|
|
|
|
Creditors |
Amounts falling due within one year | 7 |
|
|
Net current (liabilities)/assets | ( |
) |
|
Total assets less current liabilities | ( |
) |
|
|
Creditors |
Amounts falling due after more than one
year |
8 |
|
|
Net (liabilities)/assets | ( |
) |
|
|
Capital and reserves |
Called up share capital | 9 |
|
|
Share premium |
|
|
Retained earnings | ( |
) | ( |
) |
Shareholders' funds | ( |
) |
|
|
|
|
|
|
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. |
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
|
The financial statements were approved by the Board of Directors and authorised for issue on
|
|
|
|
|
|
ELIFINTY LTD (REGISTERED NUMBER: 11345938) |
|
Notes to the Financial Statements |
for the year ended 31 May 2021 |
|
|
1. | Statutory information |
|
Elifinty Ltd is a
|
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | Accounting policies |
|
Basis of preparing the financial statements |
|
|
The directors have considered the impact of and response to the Covid19 pandemic, including the company's available resources and ability to adjust the company's operations as required. The company will be able to continue to operate for the foreseeable future. |
|
The directors are of the opinion that the above is sufficient to conclude that the company is a going concern. The financial statements do not include any adjustments to the value of the balance sheet which would result should the going concern basis not be valid. |
|
Key source of estimation, uncertainty and judgement |
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. |
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
|
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
|
|
|
Tangible fixed assets |
|
|
Government grants |
Grant income is recognised under the accrual model of Financial Reporting Standard 102. |
|
Grant income is recognised in the profit and loss account on a systematic basis over the period in which the company recognises the related costs for which the grant is intended to compensate. |
ELIFINTY LTD (REGISTERED NUMBER: 11345938) |
|
Notes to the Financial Statements - continued |
for the year ended 31 May 2021 |
|
|
2. | Accounting policies - continued |
|
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
|
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
|
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
|
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
|
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
|
3. | Employees and directors |
|
The average number of employees during the year was NIL (2020 - NIL). |
ELIFINTY LTD (REGISTERED NUMBER: 11345938) |
|
Notes to the Financial Statements - continued |
for the year ended 31 May 2021 |
|
|
4. | Intangible fixed assets |
Patents and |
licences |
£ |
Cost |
At 1 June 2020 |
and 31 May 2021 |
|
Amortisation |
At 1 June 2020 |
|
Amortisation for year |
|
At 31 May 2021 |
|
Net book value |
At 31 May 2021 |
|
At 31 May 2020 |
|
|
5. | Tangible fixed assets |
Computer |
equipment |
£ |
Cost |
At 1 June 2020 |
and 31 May 2021 |
|
Depreciation |
At 1 June 2020 |
|
Charge for year |
|
At 31 May 2021 |
|
Net book value |
At 31 May 2021 |
|
At 31 May 2020 |
|
|
6. | Debtors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
7. | Creditors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Other creditors |
|
|
|
|
ELIFINTY LTD (REGISTERED NUMBER: 11345938) |
|
Notes to the Financial Statements - continued |
for the year ended 31 May 2021 |
|
|
8. | Creditors: amounts falling due after more than one year |
2021 | 2020 |
£ | £ |
Bank loans |
|
|
|
9. | Called up share capital |
|
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
|
Ordinary | £0.000001 | 1 | 1 |
|
B Investment | £0.000001 | - | - |
1 | 1 |
|
1,951 Ordinary shares of £0.000001 each were allotted as fully paid
|
|
10. | Related party disclosures |
|
At the period end date the director was owed £nil (2020: £1,000) by the company. This loan was interest free and repayable on demand. |