Experiential Intelligence Solutions Limited - Period Ending 2020-10-31

Experiential Intelligence Solutions Limited

Contents

 

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

Experiential Intelligence Solutions Limited

Company Information

 

Directors

Mr W B Mould Mr PR Stanway Mr J D Morgan

Registered office

Thomas House Pope Lane, Whitestake Preston Lancashire PR4 4AZ

Experiential Intelligence Solutions Limited

(Registration number: 11975180)

Balance Sheet as at 31 October 2020

	Note	2020 £
Current assets
Debtors	4	449
Cash at bank and in hand		973
		1,422
Creditors: Amounts falling due within one year	5	(384)
Net assets		1,038
Capital and reserves
Profit and loss account		1,038
Shareholders' funds		1,038

For the financial period ending 31 October 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their 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 has been taken.

Approved and authorised by the Board on 5 February 2021 and signed on its behalf by:
 

......................................... Mr W B Mould Director

Experiential Intelligence Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 2 May 2019 to 31 October 2020

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Thomas House
Pope Lane, Whitestake
Preston
Lancashire
PR4 4AZ

The principal place of business is:
5th Floor
75 - 77 Margaret Street
London
W1W 8SY

These financial statements were authorised for issue by the Board on 5 February 2021.

2	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 prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Disclosure of long or short period

The period end has been extended to October 2020 as the company has now ceased trading.

Experiential Intelligence Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 2 May 2019 to 31 October 2020 (continued)

2	Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

Experiential Intelligence Solutions Limited

Notes to the Unaudited Financial Statements for the Period from 2 May 2019 to 31 October 2020 (continued)

2	Accounting policies (continued)

Financial instruments

Classification
The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company’s statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and liability simultaneously.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. As 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. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

 
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0.

4

Debtors

	2020 £
Other debtors	449
	449

5

Creditors

	Note	2020 £
Due within one year
Other taxation and social security		384