Easy 2 Stay Limited - Period Ending 2016-05-31

Registration number: 06588642

Easy 2 Stay Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2016
 

Easy 2 Stay Limited
(Registration number: 06588642)
Abbreviated Balance Sheet at 31 May 2016

		Note			2016 £			2015 £
Current assets
Debtors					14,960			41,045
Cash at bank and in hand					521			307
					15,481			41,352
Creditors: Amounts falling due within one year					(32,158)			(42,103)
Net liabilities					(16,677)			(751)
Capital and reserves
Called up share capital		2			3			3
Profit and loss account					(16,680)			(754)
Shareholders' deficit					(16,677)			(751)

For the year ending 31 May 2016 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 24 February 2017 and signed on its behalf by:

.........................................
Mr A D Ford
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
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Easy 2 Stay Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The company continues to enjoy the support of its creditors and bankers and anticipates the continuation of these facilities in the future. Hence, despite the insolvent balance sheet, the accounts have been prepared on a going concern basis.

Cash flow statement

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		3			3			3			3

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Easy 2 Stay Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

3	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr A D Ford
Director's loan account	2,201	-	2,201	-
Mr D J J Purdy
Director's loan account	7,801	-	7,801	-
Mr A D Ford
Director's loan account	801	-	801	-

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