Eikonika Limited
Unaudited Financial Statements
For Filing with Registrar
For the year ended 31 August 2019
Company Registration No. 03092815 (England and Wales)
Eikonika Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Eikonika Limited
Balance Sheet
As at 31 August 2019
Page 1
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,524
1,143
Current assets
Debtors
4
3,318
2,889
Cash at bank and in hand
58,045
652
61,363
3,541
Creditors: amounts falling due within one year
5
(38,406)
(5,180)
Net current assets/(liabilities)
22,957
(1,639)
Total assets less current liabilities
24,481
(496)
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
24,479
(498)
Total equity
24,481
(496)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 August 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 11 April 2020
J Bradshaw
Director
Company Registration No. 03092815
Eikonika Limited
Notes to the Financial Statements
For the year ended 31 August 2019
Page 2
1
Accounting policies
Company information
Eikonika Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Bakers Cottage, Ickleton Road, Elmdon, Saffron Walden, Essex, CB11 4LT.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bas
i
s:
Plant and machinery
25% Reducing Balance
Computer equipment
33% Reducing Balance
Motor vehicles
25% Reducing Balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand
and
deposits held at call with banks
.
1.5
Financial instruments
All of the company's financial assets and liabilities are basic and measured at amortised cost.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Eikonika Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2019
1
Accounting policies
(Continued)
Page 3
1.7
Taxation
The tax expense represents the sum of the tax currently payable
.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
1.8
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2018 - 1).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2018
23,684
Additions
1,027
At 31 August 2019
24,711
Depreciation and impairment
At 1 September 2018
22,541
Depreciation charged in the year
646
At 31 August 2019
23,187
Carrying amount
At 31 August 2019
1,524
At 31 August 2018
1,143
Eikonika Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2019
Page 4
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
2,670
-
Other debtors
648
2,889
3,318
2,889
5
Creditors: amounts falling due within one year
2019
2018
£
£
Corporation tax
12,932
130
Other taxation and social security
9,623
313
Other creditors
15,851
4,737
38,406
5,180
6
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of £1 each
2
2
2
2
7
Related party transactions
During the year dividends of £32,950 (2018: £11,694) were paid to the director. Included within other creditors is £6,739 relating to amounts owed to the director (2018: included in other debtors is £2,233 owed by the director).