Elmark Group Ltd

Contents
	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 10362737

		31 December 2017		Period to 31 December 2016
	Notes	£	£	£	£
CURRENT ASSETS
Stocks	2	11,733		9,354
Debtors	3	2,564		8,096
Cash at bank and in hand		4,156		1

		18,453		17,451
Creditors: Amounts Falling Due Within One Year	4	(276 )		(900 )

NET CURRENT ASSETS (LIABILITIES)			18,177		16,551

TOTAL ASSETS LESS CURRENT LIABILITIES			18,177		16,551

Creditors: Amounts Falling Due After More Than One Year	5		(87,695 )		(30,600 )

NET ASSETS			(69,518 )		(14,049 )

CAPITAL AND RESERVES
Called up share capital	6		1		1
Profit and Loss Account			(69,519 )		(14,050 )

SHAREHOLDERS' FUNDS			(69,518)		(14,049)

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Elmark Group Ltd

Balance Sheet (continued)

As at 31 December 2017

For the year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Jelez Jelyazkov

25th April 2018

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover form the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

1.3. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

1.4. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2. Stocks

	31 December 2017	Period to 31 December 2016
	£	£
Stock - materials	11,733	9,354

	11,733	9,354

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Elmark Group Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2017

3. Debtors

	31 December 2017	Period to 31 December 2016
	£	£
Due within one year
Trade debtors	1,119	7,111
Prepayments and accrued income	480	-
Other debtors	965	-
VAT	-	985

	2,564	8,096

4. Creditors: Amounts Falling Due Within One Year

	31 December 2017	Period to 31 December 2016
	£	£
Bank loans and overdrafts	25	-
VAT	33	-
Accruals	218	900

	276	900

5. Creditors: Amounts Falling Due After More Than One Year

	31 December 2017	Period to 31 December 2016
	£	£
Trade creditors	44,655	17,579
Amounts owed to related parties	43,040	13,021

	87,695	30,600

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Elmark Group Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2017

6. Share Capital

	31 December 2017		Period to 31 December 2016
Allotted, Called up and fully paid	1		1

	Value	Number	31 December 2017	Period to 31 December 2016
Allotted, called up and fully paid	£		£	£
Ordinary shares	1	1	1	1

7. Related Party Transactions

Total amount owed to the related parties at the end of accounting year is £85,241.

8. Ultimate Controlling Party

The company's ultimate controlling party is Elmark Holding SE by virtue of it's ownership of 100% of the issued share capital in the company. Elmark Holding SE is a SE company registered in England with registration number SE000098.

9. General Information

Elmark Group Ltd Registered number 10362737 is a limited by shares company incorporated in England & Wales. The Registered Office is c/o Terra Finance Ltd, Castle Court, 41 London Road, Reigate, Surrey, RH2 9RJ.

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