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

REGISTERED NUMBER: 03734110 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

EIG LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Accountants' Report

5

DIRECTOR:

N A Sellick

REGISTERED OFFICE:

38 Borough High Street

London

SE1 1XW

REGISTERED NUMBER:

03734110 (England and Wales)

ACCOUNTANTS:

Ashdown Hurrey

Chartered Accountants & Business Advisers

20 Havelock Road

Hastings

East Sussex

TN34 1BP

FIXED ASSETS

Tangible assets

4

2,472

8,791

CURRENT ASSETS

Debtors

5

843,211

1,074,260

Cash at bank

80,848

83,172

924,059

1,157,432

CREDITORS

Amounts falling due within one year

6

550,763

975,011

NET CURRENT ASSETS

373,296

182,421

TOTAL ASSETS LESS CURRENT LIABILITIES

375,768

191,212

CREDITORS

Amounts falling due after more than one year

7

(42,094

)

-

PROVISIONS FOR LIABILITIES

(301

)

(1,464

)

NET ASSETS

333,373

189,748

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

283,373

139,748

SHAREHOLDERS' FUNDS

333,373

189,748

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 December 2021 and were signed by:

N A Sellick - Director

1.	STATUTORY INFORMATION

EIG 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.

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.

In preparing the financial statements, the directors are required to make an assessment of the ability of the company to continue as a going concern. The directors have considered all available evidence for the company which covers the 12 month period from the date of signing these financial statements. Against the backdrop of the COVID-19 Pandemic the directors have paid particular attention to likely cashflow requirements and the future availability of adequate cashflow to the company.

On the basis of this consideration, the directors are confident that the company has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. In reaching this conclusion they are satisfied that no material uncertainty exists. As a result of the above, the directors have concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements and that no material uncertainty exists in reaching this conclusion.

Turnover

Turnover represents commissions receivable, 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.

Plant and machinery

-

33% on cost

Fixtures and fittings

-

15% on cost

Computer equipment

-

20% on cost

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 11 (2020 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2020

and 31 March 2021

183,384

38,445

25,504

247,333

DEPRECIATION

At 1 April 2020

179,694

38,445

20,403

238,542

Charge for year

1,218

-

5,101

6,319

At 31 March 2021

180,912

38,445

25,504

244,861

NET BOOK VALUE

At 31 March 2021

2,472

-

-

2,472

At 31 March 2020

3,690

-

5,101

8,791

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

as restated

£

£

Trade debtors

545,745

769,652

Other debtors

269,066

251,793

Prepayments

28,400

52,815

843,211

1,074,260

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

as restated

£

£

Bank loans and overdrafts

7,906

-

Trade creditors

510,545

936,135

Social security and other taxes

21,731

33,776

Other creditors

3,607

-

Accrued expenses

6,974

5,100

550,763

975,011

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

as restated

£

£

Bank loans - more than 1 year

42,094

-

8.	OTHER FINANCIAL COMMITMENTS

The company's bank holds a debenture dated 13 September 2012 given by Estate Insurance Group Limited for all monies due or to become due from the company to the chargee on any account whatsoever. The debenture is a fixed and floating charge over all property and assets present and future, including goodwill, uncalled capital, buildings, fixtures, fixed plant and machinery.

9.	RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £241,752 (2020: £189,761) from Property Consolidation (UK) LLP, a business controlled by the director, N A Sellick.

10.	CLIENT ACCOUNTS

The company holds clients bank accounts, the balance of which is wholly represented by balances due to clients.

2021

2020

£

£

Client account net balances

191,836

536,633

The following reproduces the text of the report prepared for the director 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 Director 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 EIG Limited for the year ended 31 March 2021 which comprise the Income Statement, 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 director of EIG Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of EIG Limited and state those matters that we have agreed to state to the director of EIG Limited 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 EIG Limited and its director for our work or for this report.

It is your duty to ensure that EIG Limited 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 profit of EIG Limited. You consider that EIG Limited 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 EIG Limited. 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.

Ashdown Hurrey

Chartered Accountants & Business Advisers

20 Havelock Road

Hastings

East Sussex

TN34 1BP

1 December 2021