Registered Number
:
03697708
|
For the year ended 31 March 2017
England and Wales
Unaudited Financial Statements
For the year ended 31 March 2017
Ebid Limited
Contents Page
1
Statement of Financial Position
2 to 7
Notes to the Financial Statements
Ebid Limited
Statement of Financial Position
2016
2017
7,178
9,254
2
Property
,
plant and equipment
|
58,591
68,005
3
62
62
4
65,831
77,321
Trade and other receivables
|
36,127
44,945
5
18,332
Cash and cash equivalents
|
5,283
50,228
54,459
Trade and other payables
:
amounts falling due within one
|
year
|
(23,318)
(33,462)
6
31,141
16,766
Net current assets
Total assets less current liabilities
|
82,597
108,462
(57)
(5,107)
Provisions for liabilities
|
82,540
Net assets
103,355
117
117
99,975
99,975
(17,560)
3,255
8
8
82,540
103,355
Shareholders' funds
For the year ended 31 March 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
|
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006
|
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
|
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
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
|
1 of 7
For the year ended 31 March 2017
Ebid Limited
Statement of Financial Position Continued
Mr Julian Mark Wilkinson Director
|
These financial statements were approved and authorised for issue by the Board on 28 December 2017 and were signed by:
|
The notes form part of these financial statements
|
2 of 7
For the year ended 31 March 2017
Ebid Limited
Notes to the Financial Statements
Statutory Information
Ebid Limited is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
registration number
|
03697708
.
|
Principal place of business
:
|
303 Wey House
Weybridge
Surrey
KT13 8NA
82 Wandsworth Bridge Road
London
SW6 2TF
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A of Financial
|
Reporting Standard
102
''
The Financial Reporting Standard applicable in the UK and Republic of Ireland
''
and the
|
Companies Act
2006
.
The financial statements have been prepared under the historical costs convention as
|
modified by the revaluation of certain assets
.
|
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
|
Intangible assets
Expenditure on patents and registrations, where a new patent or registration is establised, has been capitalised as an intangible fixed asset and amortised over their expected useful lives of ten years on a straight line basis.
|
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Expenditure on website maintenance and updates is written off in the year incurred. Expenditure incurred on the website development is capitalised only to the extent that it is certain that it's future recoverability can reasonably be regarded as assured. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Fixtures & Fittings
Website Development Costs
Computer Equipment
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
|
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate at the date of transaction. Exchange rate differences are taken into account in arriving at the operating result.
|
3 of 7
For the year ended 31 March 2017
Ebid Limited
Notes to the Financial Statements Continued
Exemption from preparing group accounts
The company and its subsidary undertaking comprise a small group
.
The company has taken advantage of the
|
exemption provided by s
.
398
of the Companies Act
2006
from preparing group accounts
.
The financial statments
|
therefore present information about the company as an individual undertaking and not about it
'
s group
.
As permitted
|
by accounting standards transactions between group companies have not been disclosed
.
|
2
.
Intangible fixed assets
|
Patents
,
|
trademarks
,
|
licences
,
|
20,767
20,767
11,513
2,076
Charge for year
13,589
7,178
9,254
3
.
Property
,
plant and equipment
|
Website
|
Development
|
Costs
|
452,035
425,641
25,271
1,123
31,727
31,727
-
-
1,123
25,271
457,368
483,762
Provision for depreciation and impairment
|
384,030
358,115
25,271
644
Charge for year
41,141
41,027
-
114
425,171
399,142
25,271
758
365
-
58,226
58,591
479
-
67,526
68,005
4 of 7
For the year ended 31 March 2017
Ebid Limited
Notes to the Financial Statements Continued
4
.
Investments held as fixed assets
|
Shares in group and participating interests
|
62
62
62
62
62
62
62
62
The company owns
100
%
of the equity shares of EBid Holdings USA Inc
,
a company registered in the United States
|
of America
.
The aggregate amount of share capital and reserves at
31
December
2016
amounted to
-
£
14
,
544
and
|
its profit for the year then ended amounted to £
852
.
|
5
.
Trade and other receivables
|
2016
2017
11,119
6,750
Amounts owed by group undertakings and participating interests
|
30,521
24,455
3,305
4,922
36,127
44,945
6
.
Trade and other payables
:
amounts falling due within one year
|
2016
2017
6,752
6,970
Taxation and social security
|
890
3,541
25,820
12,807
33,462
23,318
5 of 7
For the year ended 31 March 2017
Ebid Limited
Notes to the Financial Statements Continued
7
.
Related party transactions
|
Ebid Holdings USA Inc incurred costs on behalf of Ebid Limited amounting to £
40
,
477
during the year
.
Ebid Holdings
|
USA Inc charged fees to EBid Limited of £
7
,
844
.
The inter
-
company balance with its subsidiary is unsecured
,
|
interest free and repayable on demand
.
|
At the period end the balance owed
(
to
)/
from Ebid Holdings USA Inc
.
amounted to £
30
,
521
(
Year ended
31
March
|
2016
£
24
,
455
)
|
Mr Sewell and Mr Wilkinson
,
directors and shareholders
,
have a significant interest in PPPay Limited
|
PPPay Limited has funded transactions on behalf of Ebid Limited on an unsecured
,
interest free basis and any
|
balance is repayable on demand
.
|
At the period end the balance owed
(
to
)/
from PPPay Limited amounted to £
-
10
,
911
(
Year ended
31
March
2016
|
£
1
,
144
)
|
Mr Dilworth
,
a shareholder
,
has a significant interest in Ginge Limited
.
|
Ginge Limited supplied services to the company during the year amounting to £
15
,
370
.
|
At the period end the balance owed
(
to
)/
from Ginge Limited amounted to £
-
1
,
300
(
Year ended
31
March
2016
|
£
-
1
,
650
)
|
Mr Sewell
,
a director and shareholder
,
has a significant interest in Gasdigital Limited
|
Gasdigital Limited supplied programming services during the year to the company amounting to £
72
,
919
.
|
At the period end the balance owed
(
to
)/
from Gasdigital Limited amounted to £
-
6
,
731
(
Year ended
31
March
2016
|
£
-
4
,
377
)
|
Mr Sewell has a credit loan balance with the company which is unsecured
,
interest free and repayable on demand
.
|
At the period end the balance owed
(
to
)/
from G A Sewell amounted to £
-
1
,
758
(
Year ended
31
March
2016
£
-
1
,
173
)
|
Mr Wilkinson has a credit loan balance with the company
,
which is unsecured
,
interest free and repayable on
|
demand
.
|
At the period end the balance owed
(
to
)/
from J M Wilkinson amounted to £
-
15
(
Year ended
31
March
2016
£
-
300
)
|
8
.
Average number of persons employed
|
During the year the average number of employees was 2 (2016 : 2)
6 of 7
For the year ended 31 March 2017
Ebid Limited
Notes to the Financial Statements Continued
9
.
Transition to FRS
102
|
This is the first financial year that the Company has presented its financial statements in accordance with FRS
102
|
Section
1
A
"
The Financial Reporting Framework Applicable in the UK and Republic of Ireland
'
(
'
FRS
102
'
).
For
|
financial years up to and including the year ended
31
March
2016
,
the Company prepared its financial statements in
|
accordance with old UK GAAP
.
The Company
'
s date of transition to FRS
102
is therefore
1
April
2015
.
This note
|
sets out any changes to accounting policies and transitional adjustments that are required for first time transition to
|
FRS
102
.
|
There are no changes to the accounting policies nor balances relating to the financial year ended
31
March
2016
as
|
a result of this transition
.
|
7 of 7