Company Registration No. 07055270 (England and Wales)
Eco Systems Direct Limited
Unaudited accounts
for the year ended 30 September 2017
Eco Systems Direct Limited
Unaudited accounts
Contents
Eco Systems Direct Limited
Company Information
for the year ended 30 September 2017
Directors
Mr Declan McDonald
Mr James McDonald
Secretary
Mrs Marie McDonald
Company Number
07055270 (England and Wales)
Registered Office
2ND FLOOR
43 BROOMFIELD ROAD
CHELMSFORD
ESSEX
CM1 1SY
Accountants
W F Lemon & Co Ltd
76 Main Street
Lisnaskea
Co Fermanagh
BT92 0JD
Eco Systems Direct Limited
Statement of financial position
as at 30 September 2017
Tangible assets
45,356
52,492
Inventories
342,510
79,795
Cash at bank and in hand
2,734
27,142
Creditors: amounts falling due within one year
(366,407)
(166,188)
Net current assets
10,104
10,628
Total assets less current liabilities
55,460
63,120
Creditors: amounts falling due after more than one year
(42,598)
(51,760)
Provisions for liabilities
Deferred tax
(2,343)
(3,136)
Called up share capital
2
2
Profit and loss account
10,517
8,222
Shareholders' funds
10,519
8,224
For the year ending 30 September 2017 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 28 September 2018.
Mr Declan McDonald
Director
Company Registration No. 07055270
Eco Systems Direct Limited
Notes to the Accounts
for the year ended 30 September 2017
Eco Systems Direct Limited is a private company, limited by shares, registered in England and Wales, registration number 07055270. The registered office is 2ND FLOOR, 43 BROOMFIELD ROAD, CHELMSFORD, ESSEX, CM1 1SY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 30 September 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 October 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% Straight Line
Plant & machinery
10% Straight Line
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
Eco Systems Direct Limited
Notes to the Accounts
for the year ended 30 September 2017
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 October 2016
37,395
52,658
90,053
At 30 September 2017
37,395
52,658
90,053
At 1 October 2016
11,240
26,321
37,561
Charge for the year
1,870
5,266
7,136
At 30 September 2017
13,110
31,587
44,697
At 30 September 2017
24,285
21,071
45,356
At 30 September 2016
26,155
26,337
52,492
Finished goods
342,510
79,795
Trade debtors
22,979
55,960
Accrued income and prepayments
5,049
-
Other debtors
3,239
13,919
7
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
32,335
30,657
Obligations under finance leases and hire purchase contracts
1,527
3,053
Trade creditors
87,511
51,180
Taxes and social security
3,567
4,871
Other creditors
241,467
76,427
Eco Systems Direct Limited
Notes to the Accounts
for the year ended 30 September 2017
8
Creditors: amounts falling due after more than one year
2017
2016
Obligations under finance leases and hire purchase contracts
-
1,527
Other creditors
42,598
50,233
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
10
Average number of employees
During the year the average number of employees was 4 (2016: 4).