Company Registration No. 03503954 (England and Wales)
EVELEIGH INFORMATION SOLUTIONS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2019
PAGES FOR FILING WITH REGISTRAR
EVELEIGH INFORMATION SOLUTIONS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
EVELEIGH INFORMATION SOLUTIONS LTD
BALANCE SHEET
AS AT
29 MARCH 2019
29 March 2019
- 1 -
2019
2018
Notes
£
£
£
£
Current assets
Debtors
5
14,668
14,398
Cash at bank and in hand
1,818
458
16,486
14,856
Creditors: amounts falling due within one year
6
(17,623)
(17,553)
Net current liabilities
(1,137)
(2,697)
Capital and reserves
Called up share capital
1
1
Distributable profit and loss reserves
7
(1,138)
(2,698)
Total equity
(1,137)
(2,697)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
The notes on pages 2 - 5 form an integral part of these financial statements.
For the financial year ended 29 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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
and FRS102 Section 1A.
The financial statements were approved and signed by the director and authorised for issue on 24 December 2019
T D Eveleigh
Director
Company Registration No. 03503954
EVELEIGH INFORMATION SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2019
- 2 -
1
Accounting policies
Company information
Eveleigh Information Solutions Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Airport House, Suite 245, Purley Way, Croydon, Surrey, CR0 0XZ.
The principal activity of the company continued to be that of computer consultancy and associated services.
1.1
Accounting convention
These financial statements have been prepared in accordance with 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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
A
true
t the time of approving the financial statements
,
t
he director has a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
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 bases:
Plant and machinery
25% Straight Line
1.5
Financial instruments
The company only enters into basic financial instrument transactions that results in the recognition od financial asset and liability such as trade and other debtors and creditors, loan from bank and other third parties, loan to related parties and investments in non puttable ordinary shares.
1.6
Taxation
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.
EVELEIGH INFORMATION SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 MARCH 2019
1
Accounting policies
(Continued)
- 3 -
1.7
Provisions for liability
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of comprehensive income in the year that the company becomes aware of the obligation, and are measured at the best estimates at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2018 - 1).
2019
2018
Number
Number
Director
1
1
1
1
3
Taxation
2019
2018
£
£
Current tax
UK corporation tax on profits for the current period
793
1,163
Adjustments in respect of prior periods
-
7,669
Total current tax
793
8,832
EVELEIGH INFORMATION SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 MARCH 2019
- 4 -
4
Tangible fixed assets
Plant and machinery
£
Cost
At 30 March 2018
5,128
Disposals
(5,128)
At 29 March 2019
-
Depreciation and impairment
At 30 March 2018
5,128
Eliminated in respect of disposals
(5,128)
At 29 March 2019
-
Carrying amount
At 29 March 2019
-
At 29 March 2018
-
5
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
1,555
201
Other debtors
13,113
14,197
14,668
14,398
The director considers the carrying value of trade and other receivables approximate to their fair values.
6
Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans and overdrafts
-
1,666
Corporation tax
11,393
10,392
Other taxation and social security
1,421
386
Accruals and deferred income
4,809
5,109
17,623
17,553
The director considers the carrying amounts of current liabilities approximate to their fair values.
EVELEIGH INFORMATION SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 MARCH 2019
- 5 -
7
Reserves
Profit and loss reserves
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.
8
Related party transactions
At the balance sheet date, included in other debtors are amounts receivable from the director of £13,113 (2018: £14,197).