ESB CONNECT LIMITED Accounts

ESB CONNECT LIMITED - Company Information






ESB CONNECT LIMITED
	Company No. 08235436
		Information for Filing with The Registrar
		31 October 2018

The Directors present their report and the accounts for the year ended 31 October 2018.

Principal activities
The principal activity of the company during the year under review was Media Representation Services.




Directors

The Directors who served at any time during the year were as follows:

P.F. Chaplin			(Resigned 15 February 2018)
S.E.J. Chaplin			(Appointed 15 February 2018)


































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

S.E.J. Chaplin
Director
23 January 2019

at	31 October 2018
Company No.		08235436	Notes	2018	2017
				£	£
Fixed assets
	Intangible assets		2	-	9,594
	Tangible assets		3	2,554	4,524


				2,554	14,118
Current assets

	Debtors		4	328,538	347,213

	Cash at bank and in hand			6,956	4,756
				335,494	351,969
Creditors: Amount falling due within one year			5	(789,426)	(704,434)
Net current liabilities				(453,932)	(352,465)
Total assets less current liabilities				(451,378)	(338,347)




Net liabilities				(451,378)	(338,347)

Capital and reserves
	Called up share capital			1	1



	Profit and loss account		6	(451,379)	(338,348)

Total equity				(451,378)	(338,347)


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 October 2018 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 23 January 2019
And signed on its behalf by:
S.E.J. Chaplin
Director

for the year ended 31 October 2018

Accounting policies

Basis of preparation

The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Intangible fixed assets

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Foreign currencies

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2	Intangible fixed assets
			Other	Total
			£	£
		Cost
		At 1 November 2017	32,392	32,392


		At 31 October 2018	32,392	32,392
		Amortisation and impairment
		At 1 November 2017	22,798	22,798
		Charge for the year	9,594	9,594


		At 31 October 2018	32,392	32,392
		Net book values
		At 31 October 2018	-	-
		At 31 October 2017	9,594	9,594

3	Tangible fixed assets
			Fixtures, fittings and equipment	Total
			£	£
		Cost or revaluation
		At 1 November 2017	7,324	7,324
		Additions	667	667



		At 31 October 2018	7,991	7,991
		Depreciation
		At 1 November 2017	2,800	2,800
		Charge for the year	2,637	2,637



		At 31 October 2018	5,437	5,437
		Net book values
		At 31 October 2018	2,554	2,554
		At 31 October 2017	4,524	4,524

4	Debtors
			2018	2017
			£	£
		Trade debtors	182,814	112,173

		Corporation tax recoverable	103,191	94,890



		Other debtors	15,400	18,031
		Prepayments and accrued income	27,133	122,119
			328,538	347,213

5	Creditors:
		amounts falling due within one year
			2018	2017
			£	£




		Trade creditors	192,657	74,206
		Amounts owed to group undertakings	500,206	500,151

		Other taxes and social security	37,535	45,116

		Other creditors	592	17,234
		Accruals and deferred income	58,436	67,727
			789,426	704,434

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

Related party disclosures

2018

2017

Transactions with related parties

Name of related party

ESB Connect Group Limited

Description of relationship between the parties

Parent Company

Description of transaction and general amounts involved

During the year the company received loans from the parent company of £4,430 (2016: £495,721).

Amount due from/(to) the related party

(500,206)

(500,151)

Controlling parties

Immediate controlling parties

ESB Connect Group Ltd

Ultimate controlling party

S E J Chaplin

Additional information

Its registered number is:

08235436

Its registered office is:

38 Chancery Lane

London

WC2A 1EN