Educonnect Limited - Accounts to registrar (filleted) - small 18.2

Educonnect Limited - Accounts to registrar (filleted) - small 18.2

EDUCONNECT LIMITED - Company Information

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REGISTERED NUMBER: 04534023 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 July 2019

for

Educonnect Limited
Pinfields Limited
Chartered Accountants
Meryll House
57 Worcester Road
Bromsgrove
Worcestershire
B61 7DN








Educonnect Limited (Registered number: 04534023)






Contents of the Financial Statements
for the year ended 31 July 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Educonnect Limited

Company Information
for the year ended 31 July 2019







DIRECTORS: A T D Kernaghan
D K Roe





SECRETARY: Pinfield Secretaries Limited





REGISTERED OFFICE: Waterside House Unit 4
The Courtyard, Harris Business Park
Hanbury Road
Stoke Prior
Worcestershire
B60 4DJ





REGISTERED NUMBER: 04534023 (England and Wales)





ACCOUNTANTS: Pinfields Limited
Chartered Accountants
Meryll House
57 Worcester Road
Bromsgrove
Worcestershire
B61 7DN
Page 1
Educonnect Limited (Registered number: 04534023)

Balance Sheet
31 July 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,465 18,236
Investments 5 - 87,500
14,465 105,736

CURRENT ASSETS
Stocks 81,399 82,701
Debtors 6 193,700 198,718
Cash at bank and in hand 228,331 113,025
503,430 394,444
CREDITORS
Amounts falling due within one year 7 318,974 217,550
NET CURRENT ASSETS 184,456 176,894
TOTAL ASSETS LESS CURRENT
LIABILITIES
198,921
282,630

PROVISIONS FOR LIABILITIES 2,516 3,182
NET ASSETS 196,405 279,448

CAPITAL AND RESERVES
Called up share capital 202 202
Retained earnings 196,203 279,246
SHAREHOLDERS' FUNDS 196,405 279,448

The notes form part of these financial statements

Page 2 continued...
Educonnect Limited (Registered number: 04534023)

Balance Sheet - continued
31 July 2019


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2020
and were signed on its behalf by:





A T D Kernaghan - Director


The notes form part of these financial statements

Page 3
Educonnect Limited (Registered number: 04534023)

Notes to the Financial Statements
for the year ended 31 July 2019

1. STATUTORY INFORMATION

Educonnect Limited is a private company, limited by shares , registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information
page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost.

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling
costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of
Income and Retained Earnings, 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.


Page 4 continued...
Educonnect Limited (Registered number: 04534023)

Notes to the Financial Statements - continued
for the year ended 31 July 2019

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2018 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2018 60,328
Additions 1,050
At 31 July 2019 61,378
DEPRECIATION
At 1 August 2018 42,092
Charge for year 4,821
At 31 July 2019 46,913
NET BOOK VALUE
At 31 July 2019 14,465
At 31 July 2018 18,236

Page 5 continued...
Educonnect Limited (Registered number: 04534023)

Notes to the Financial Statements - continued
for the year ended 31 July 2019

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 August 2018 87,500
Disposals (87,500 )
At 31 July 2019 -
NET BOOK VALUE
At 31 July 2019 -
At 31 July 2018 87,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 185,434 194,288
Other debtors 8,266 4,430
193,700 198,718

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors 50,783 42,729
Taxation and social security 65,193 46,372
Other creditors 202,998 128,449
318,974 217,550

8. OTHER FINANCIAL COMMITMENTS

The company had total commitments under operating leases of £10,999 (2018: £5,008).

Page 6