EC146 Limited Company Accounts

EC146 Limited Company Accounts

EC146 LIMITED - Company Information

Print Friendly Version

false false false false false false false false false true false false false false false false false No description of principal activity 2016-02-29 Sage Accounts Production Advanced 2017 Update 3 - FRS xbrli:pure xbrli:shares iso4217:GBP 09231471 2016-02-29 2017-02-28 09231471 2017-02-28 09231471 2014-09-23 2016-02-28 09231471 2016-02-28 09231471 bus:OrdinaryShareClass1 2016-02-29 2017-02-28 09231471 bus:Director1 2016-02-29 2017-02-28 09231471 bus:Director2 2016-02-29 2017-02-28 09231471 core:WithinOneYear 2017-02-28 09231471 core:WithinOneYear 2016-02-28 09231471 core:ShareCapital 2017-02-28 09231471 core:ShareCapital 2016-02-28 09231471 core:RetainedEarningsAccumulatedLosses 2017-02-28 09231471 core:RetainedEarningsAccumulatedLosses 2016-02-28 09231471 bus:FRS102 2016-02-29 2017-02-28 09231471 bus:AuditExempt-NoAccountantsReport 2016-02-29 2017-02-28 09231471 bus:FullAccounts 2016-02-29 2017-02-28 09231471 bus:SmallCompaniesRegimeForAccounts 2016-02-29 2017-02-28 09231471 bus:PrivateLimitedCompanyLtd 2016-02-29 2017-02-28 09231471 bus:OrdinaryShareClass1 2017-02-28 09231471 bus:OrdinaryShareClass1 2016-02-28
COMPANY REGISTRATION NUMBER: 09231471
EC146 Limited
Filleted Unaudited Financial Statements
28 February 2017
EC146 Limited
Financial Statements
Year ended 28 February 2017
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
EC146 Limited
Statement of Financial Position
28 February 2017
2017
2016
Note
£
£
£
Current assets
Debtors
5
2,578,277
1,885,121
Cash at bank and in hand
13,922
1,372,273
------------
------------
2,592,199
3,257,394
Creditors: amounts falling due within one year
6
1,800
664,495
------------
------------
Net current assets
2,590,399
2,592,899
------------
------------
Total assets less current liabilities
2,590,399
2,592,899
------------
------------
Net assets
2,590,399
2,592,899
------------
------------
Capital and reserves
Called up share capital
7
2
2
Profit and loss account
2,590,397
2,592,897
------------
------------
Shareholders funds
2,590,399
2,592,899
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 28 February 2017 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 16 November 2017 , and are signed on behalf of the board by:
M J Fuller
S C Uloth
Director
Director
Company registration number: 09231471
EC146 Limited
Notes to the Financial Statements
Year ended 28 February 2017
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 23 September 2014. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
4. Employee numbers
The average number of persons employed by the company during the year, including the directors, amounted to 2 (2016: 2).
5. Debtors
2017
2016
£
£
Corporation tax repayable
457
–
Amounts owed by related undertakings
2,577,820
1,885,121
------------
------------
2,578,277
1,885,121
------------
------------
6. Creditors: amounts falling due within one year
2017
2016
£
£
Accruals and deferred income
1,800
1,512
Corporation tax
–
662,983
-------
---------
1,800
664,495
-------
---------
7. Called up share capital
Issued, called up and fully paid
2017
2016
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
8. Related party transactions
At the year end the company was owed £2,577,820 (2016: £1,885,121) from related undertakings, controlled by company directors. The loans are unsecured, interest free and repayable on demand.
9. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 23 September 2014.
No transitional adjustments were required in equity or profit or loss for the period.
Consequential changes in accounting policies resulting in the transition from FRSSE 2015 to FRS 102 were as follows: Certain related undertaking loans that had previously been classified as falling due after more than one year have been re-classified as falling due within one year. There are no fixed repayment dates or terms for these loans and the correct treatment under FRS 102 is therefore to report as repayable on demand.