EDLAR SERVICES LTD - Period Ending 2015-02-22

Registration number: 05221722

EDLAR SERVICES LTD

Annual Report and Unaudited Financial Statements

for the Year Ended 22 February 2015
 

ANTHONY STEPHENS & Co
Certified Accountants
LANDMARK HOUSE
17 HANOVER SQUARE
MaYFAIR
W1S 1HU

EDLAR SERVICES LTD
Contents

Company Information 1

Director's Report 2

Accountants' Report 3

Profit and Loss Account 4

Balance Sheet 5

Notes to the Financial Statements 6 to 8

EDLAR SERVICES LTD
Company Information

Director

Mrs Uchenna Oguike

Company secretary

Mr Anthony Oguike

Registered office

74 Tenterden drive Hendon Hendon London NW4 1EE

Accountants

ANTHONY STEPHENS & Co Certified Accountants LANDMARK HOUSE 17 HANOVER SQUARE MaYFAIR W1S 1HU

Page 1

EDLAR SERVICES LTD
Director's Report for the Year Ended 22 February 2015

The director presents her report and the unaudited financial statements for the year ended 22 February 2015.

Director of the company

The director who held office during the year was as follows:

Mrs Uchenna Oguike

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 2 November 2015 and signed on its behalf by:

.........................................
Mrs Uchenna Oguike
Director

Page 2

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
EDLAR SERVICES LTD
for the Year Ended 22 February 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of EDLAR SERVICES LTD for the year ended 22 February 2015 set out on pages 4 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of EDLAR SERVICES LTD, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of EDLAR SERVICES LTD and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than EDLAR SERVICES LTD and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that EDLAR SERVICES LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of EDLAR SERVICES LTD. You consider that EDLAR SERVICES LTD 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 accounts of EDLAR SERVICES LTD. 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 accounts.

......................................

ANTHONY STEPHENS & Co
Certified Accountants
LANDMARK HOUSE
17 HANOVER SQUARE
MaYFAIR
W1S 1HU

2 November 2015

Page 3

EDLAR SERVICES LTD
Profit and Loss Account for the Year Ended 22 February 2015

		Note			2015 £			2014 £
Turnover					48,954			48,311
Cost of sales					(18,515)			(18,768)
Gross profit					30,439			29,543
Administrative expenses					(19,675)			(16,885)
Operating profit		2			10,764			12,658
Interest payable and similar charges					(1,714)			(1,504)
Profit on ordinary activities before taxation					9,050			11,154
Tax on profit on ordinary activities		3			(2,506)			(2,322)
Profit for the financial year		8			6,544			8,832

The notes on pages 6 to 8 form an integral part of these financial statements.
Page 4

EDLAR SERVICES LTD
(Registration number: 05221722)
Balance Sheet at 22 February 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		4			16,372			14,422
Current assets
Debtors		5			2,724			1,684
Cash at bank and in hand					4,057			1,130
					6,781			2,814
Creditors: Amounts falling due within one year		6			(4,497)			(5,124)
Net current assets/(liabilities)					2,284			(2,310)
Net assets					18,656			12,112
Capital and reserves
Called up share capital		7			100			100
Profit and loss account		8			18,556			12,012
Shareholders' funds					18,656			12,112

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

For the year ending 22 February 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised for issue by the director on 2 November 2015

.........................................
Mrs Uchenna Oguike
Director

The notes on pages 6 to 8 form an integral part of these financial statements.
Page 5

EDLAR SERVICES LTD
Notes to the Financial Statements for the Year Ended 22 February 2015
......... continued

1	Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office Equioment	straight line 25%

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Operating profit

Operating profit is stated after charging:

		2015 £			2014 £
Depreciation of tangible fixed assets		5,550			3,277

3

Taxation

Tax on profit on ordinary activities

		2015 £			2014 £
Current tax
Corporation tax charge		2,506			2,322

Page 6

EDLAR SERVICES LTD
Notes to the Financial Statements for the Year Ended 22 February 2015
......... continued

4	Tangible fixed assets

		Fixtures and fittings £			Office equipment £			Total £
Cost or valuation
At 23 February 2014		3,537			26,500			30,037
Additions		2,500			5,000			7,500
At 22 February 2015		6,037			31,500			37,537
Depreciation
At 23 February 2014		2,225			13,390			15,615
Charge for the year		1,200			4,350			5,550
At 22 February 2015		3,425			17,740			21,165
Net book value
At 22 February 2015		2,612			13,760			16,372
At 22 February 2014		1,312			13,110			14,422

5

Debtors

		2015 £			2014 £
Trade debtors		2,724			1,684

6	Creditors: Amounts falling due within one year

		2015 £			2014 £
Bank loans and overdrafts		4,238			4,238
Other creditors		259			886
		4,497			5,124

7	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary Shares of £1 each		1			1			1			1

Page 7

EDLAR SERVICES LTD
Notes to the Financial Statements for the Year Ended 22 February 2015
......... continued

8

Reserves

		Profit and loss account £			Total £
At 23 February 2014		12,012			12,012
Profit for the year		6,544			6,544
At 22 February 2015		18,556			18,556

9

Control

The company is controlled by the director who owns 0% of the called up share capital.

Page 8