Eikonika Limited
Unaudited Financial Statements
For Filing with Registrar
For the year ended 31 August 2021
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 2021
Page 1
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,563
1,595
Current assets
Debtors
4
546
5,447
Cash at bank and in hand
44,008
23,471
44,554
28,918
Creditors: amounts falling due within one year
5
(32,848)
(17,009)
Net current assets
11,706
11,909
Total assets less current liabilities
13,269
13,504
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
13,267
13,502
Total equity
13,269
13,504
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 2021 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 1 March 2022
J Bradshaw
Director
Company Registration No. 03092815
Eikonika Limited
Notes to the Financial Statements
For the year ended 31 August 2021
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
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
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.
1.4
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
Fixtures, fittings & equipment
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
.
1.5
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
.
1.6
Financial instruments
All of the company's financial assets and liabilities are basic and measured at amortised cost.
Eikonika Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2021
1
Accounting policies
(Continued)
Page 3
1.7
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.
1.8
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.
1.9
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
(2020: 1).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2020
25,490
Additions
609
At 31 August 2021
26,099
Depreciation and impairment
At 1 September 2020
23,895
Depreciation charged in the year
641
At 31 August 2021
24,536
Carrying amount
At 31 August 2021
1,563
At 31 August 2020
1,595
Eikonika Limited
Notes to the Financial Statements (Continued)
For the year ended 31 August 2021
Page 4
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
4,790
Other debtors
546
657
546
5,447
5
Creditors: amounts falling due within one year
2021
2020
£
£
Corporation tax
6,213
4,319
Other taxation and social security
3,409
978
Other creditors
23,226
11,712
32,848
17,009
6
Called up share capital
2021
2020
£
£
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 £28,000 (2020: £31,500) were paid to the director. Included within other creditors is £15,753 (2020: £3,942) relating to amounts owed to the director.