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Unaudited Financial Statements for the Year Ended 31 August 2018 |
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E P Direct Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 August 2018 |
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for |
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E P Direct Limited |
E P Direct Limited (Registered number: 02512585) |
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Contents of the Financial Statements |
for the Year Ended 31 August 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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E P Direct Limited |
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Company Information |
for the Year Ended 31 August 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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E P Direct Limited (Registered number: 02512585) |
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Balance Sheet |
31 August 2018 |
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2018 | 2017 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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( |
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E P Direct Limited (Registered number: 02512585) |
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Balance Sheet - continued |
31 August 2018 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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E P Direct Limited (Registered number: 02512585) |
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Notes to the Financial Statements |
for the Year Ended 31 August 2018 |
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1. | STATUTORY INFORMATION |
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E P Direct Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual |
provisions of the instruments. |
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Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in |
effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a |
market rate of interest for a similar debt instrument. |
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Debt instruments are subsequently measured at amortised cost. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 balance sheet date. |
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E P Direct Limited (Registered number: 02512585) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2018 |
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3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 September 2017 |
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Additions |
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Disposals | ( |
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At 31 August 2018 |
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DEPRECIATION |
At 1 September 2017 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 August 2018 |
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NET BOOK VALUE |
At 31 August 2018 |
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At 31 August 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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E P Direct Limited (Registered number: 02512585) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 August 2018 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Other creditors |
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8. | GOING CONCERN NOTE |
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In determining the appropriate basis of preparation of the financial statements, the directors are required to |
consider whether the company can continue in operational existence for at least the next 12 months. |
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As disclosed on the balance sheet the company's total liabilities exceeded its total assets. |
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Having made requisite enquires, the directors are confident that the company has adequate resources to continue |
its operations for the foreseeable future. Part of the company's liabilities are monies due to Mr D S Brewer and |
Mrs L S Brewer, shareholders and directors of the company, amounting to £28,230 (2017 - £20,549). They have |
confirmed that they will not call on these outstanding monies and will continue their support of the business. |
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Following a detailed and comprehensive review of the business, the directors have no reason or intention to |
liquidate the company or cease its trading activities over the foreseeable future. |
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In conclusion, and considering the areas described above, the directors are confident that the company has |
adequate resources to continue in operational existence for the foreseeable future. For these reasons, the |
directors consider it appropriate they continue to prepare the financial statements on a going concern basis. |
These financial statements do not include any adjustments that would result from the going concern basis of |
preparation being inappropriate. |