Epsilon Resource Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03869027 (England and Wales)

Unaudited Financial Statements

for the Year Ended 5 April 2018

for

Epsilon Resource Management Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

R J Slaski

Mrs C J Slaski

SECRETARY:

Mrs C J Slaski

REGISTERED OFFICE:

Datum House

Electra Way

Crewe

Cheshire

CW1 6ZF

REGISTERED NUMBER:

03869027 (England and Wales)

BANKERS:

Natwest Bank PLC

36 High Street

Nantwich

Cheshire

CW5 5GA

FIXED ASSETS

Tangible assets

5

-

389

CURRENT ASSETS

Debtors

6

1,108

12,683

Cash at bank

20,235

18,360

21,343

31,043

CREDITORS

Amounts falling due within one year

7

(17,992

)

(26,356

)

NET CURRENT ASSETS

3,351

4,687

TOTAL ASSETS LESS CURRENT LIABILITIES

3,351

5,076

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

3,251

4,976

SHAREHOLDERS' FUNDS

3,351

5,076

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 9 August 2018 and were signed on its behalf by:

R J Slaski - Director

1.	STATUTORY INFORMATION

Epsilon Resource Management Limited ('The Company') is primarily engaged in consultancy.

The company is a private company limited by shares and is incorporated in England and Wales. The address of

the principal place of business and of the registered office is Briarlea, Holmhead, Auldgirth, Dumfries &

Galloway, Scotland, DG2 0XL. The registered number can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these

financial statements are rounded to the nearest £.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Summary of significant accounting policies

The principle accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented, unless otherwise stated.

Basis of preparation

The financial statements are prepared on the going concern basis under the historical cost convention and comply

with the United Kingdom Accounting Standards and Companies Act 2006.

Going concern

No other material uncertainties that may cast significant doubt about the ability of the company to continue as a

going concern have been identified by the directors.

On this basis the directors consider it appropriate to prepare the financial statements on the going concern basis.

Turnover

Revenue (described as turnover) is the delivery of goods and the value of work (net of VAT and discounts)

performed during the year with respect to services and is recognised when the company obtains the right to

consideration.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and accumulated impairment

losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates so as to write off their cost less residual amounts over their

estimated useful economic lives. Assets are also reviewed for impairment whenever events or changes in

circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for

the amount by which the assets carrying amount exceeds its recoverable amount.

Computer equipment

- 50% on cost

The residual values and useful lives of assets are reviewed and adjusted if appropriate at each statement of

financial position date.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank

loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest,

and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the discounted

amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective

evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the

Statement of Income and Retained Earnings.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

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.

Impairment of assets

Assets not measured at fair value are reviewed for any indications that the asset maybe impaired at each

statement of financial position date. If such indications exists the recoverable amount of the asset or the assets

cash generating unit is estimated and compared to the carrying amount. Where the carrying amount exceeds its

recoverable amount, an impairment loss is recognised unless the asset is carried at a revalued amount where the

impairment loss is a revaluation decrease.

Any losses arising from impairment are recognised in the Statement of Comprehensive Income under the

appropriate heading.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 6 April 2017

and 5 April 2018

1,598

DEPRECIATION

At 6 April 2017

1,209

Charge for year

389

At 5 April 2018

1,598

NET BOOK VALUE

At 5 April 2018

-

At 5 April 2017

389

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

1,108

12,479

Social security and other

taxes

-

204

1,108

12,683

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

94

305

Tax

9,449

12,245

VAT

5,866

5,684

Directors' current account

1,053

101

Accrued expenses

1,530

8,021

17,992

26,356