ACCOUNTS - Final Accounts preparation

EFM (KNIGHTSBRIDGE) LIMITED - Company Information

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Registered number: 08935893

EFM (KNIGHTSBRIDGE) LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

EFM (KNIGHTSBRIDGE) LIMITED

REGISTERED NUMBER: 08935893

STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2021

		2021		2020
Note		£		£

Fixed assets
Tangible assets	4		17,325		19,425
			17,325		19,425
Current assets
Debtors: amounts falling due within one year	5	320,688		188,857
Cash at bank and in hand		3,903		5,284
		324,591		194,141
Creditors: amounts falling due within one year	6	(442,512)		(298,517)
Net current liabilities			(117,921)		(104,376)
Total assets less current liabilities			(100,596)		(84,951)
Creditors: amounts falling due after more than one year			-		(9,919)

Net liabilities			(100,596)		(94,870)

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		(100,696)	(94,970)
		(100,596)	(94,870)

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EFM (KNIGHTSBRIDGE) LIMITED

REGISTERED NUMBER: 08935893

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 30 SEPTEMBER 2021

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 September 2022.

V Fieldgrass

Director

The notes on pages 3 to 5 form part of these financial statements.

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EFM (KNIGHTSBRIDGE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

1.	General information

EFM (Knightsbridge) Limited is a private company limited by shares registered in England and Wales.. The company's registered office is 103 Hammersmith Road, London, W14 0QH.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The accounts have been prepared on a going concern basis in the expectation that the company will receive financial support from its directors and shareholders and will continue trading for the foreseeable future.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

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EFM (KNIGHTSBRIDGE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

2.Accounting policies (continued)

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties.

Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).

4.	Tangible fixed assets

		Plant and machinery
		£
	Cost or valuation
	At 1 October 2020	21,000
	At 30 September 2021	21,000
	Depreciation
	At 1 October 2020	1,575
	Charge for the year on owned assets	2,100
	At 30 September 2021	3,675
	Net book value
	At 30 September 2021	17,325
	At 30 September 2020	19,425

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EFM (KNIGHTSBRIDGE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

Debtors

					2021	2020
					£	£


Amounts owed by group undertakings	319,553	186,631
Other debtors	-	658
Prepayments and accrued income	1,135	1,568
	320,688	188,857

6.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Other loans	10,761	11,739
Trade creditors	424,777	282,255
Amounts owed to group undertakings	853	853
Corporation tax	3,670	3,670
Other taxation and social security	451	-
Accruals and deferred income	2,000	-
	442,512	298,517

7.	Share capital
		2021	2020
		£	£

Allotted, called up and fully paid

100 Ordinary shares of £1.00 each	100	100

8.	Related party transactions
	As permitted by FRS 102 paragraphs 1.12e and 33.1a, the company has taken advantage of the exemption from disclosing the transactions entered into between two or more members of a group as all subsidary undertakings are wholly-owned by a member of that group.

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