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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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FOR |
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E-STREAM-E LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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FOR |
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E-STREAM-E LIMITED |
E-STREAM-E LIMITED (REGISTERED NUMBER: 03852651) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 December 2016 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Chartered Accountants' Report | 5 |
E-STREAM-E LIMITED |
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COMPANY INFORMATION |
for the year ended 31 December 2016 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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88 Crawford Street |
London |
W1H 2EJ |
E-STREAM-E LIMITED (REGISTERED NUMBER: 03852651) |
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ABRIDGED BALANCE SHEET |
31 December 2016 |
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2016 | 2015 |
£ | £ |
CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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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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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges her 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 director on
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E-STREAM-E LIMITED (REGISTERED NUMBER: 03852651) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 December 2016 |
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1. | STATUTORY INFORMATION |
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E-Stream-E 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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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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These are the company's first set of financial statements prepared in accordance with FRS 102 Section 1A. |
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The financial statements are prepared in UK Pound Sterling, which is the functional currency of the company. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable for services, net of discounts, |
rebates and value added taxes. |
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Income is recognised when a significant proportion of the service has been provided, the amount of revenue can |
be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the |
entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
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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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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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Foreign currencies |
Items included in the financial statements of the company are measured using the currency of the primary |
economic environment in which the company operates ("the functional currency"). The financial statements are |
presented in Sterling, which is the company's functional and presentation currency and is denoted by the symbol |
"£". |
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Foreign currency transactions are translated into the functional currency using the spot exchange rates at the |
dates of the transactions. |
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At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items |
measured at historical cost are translated using the exchange rate at the date of the transaction and |
non-monetary items measured at fair value are measured using the exchange rate when fair value was |
determined. |
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Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents and all other |
foreign exchange gains and losses are presented in the profit and loss account within ‘Foreign exchange losses |
or gains’. |
E-STREAM-E LIMITED (REGISTERED NUMBER: 03852651) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2016 |
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3. | RELATED PARTY DISCLOSURES |
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Balances with related parties as at 31 December 2016 were as follows: |
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£190,307 (2015: £186,426) owed by Atlas Interactive Group Limited. |
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£866,367 (2015: £722,048) owed to Atlas Interactive Ltd. |
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Trade debtors of £nil (2015: £11,061) represents amounts owed by Atlas Interactive Ltd. Commission income of |
£27,888 (2015: £22,236) was received from them during the year. |
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Expenses of £3,950 (2015: £4,599) were paid to group companies during the year |
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4. | GOING CONCERN |
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The company has the ongoing financial support of its shareholders and this is expected for the foreseeable |
future. The company is therefore able to continue as a going concern, based on this support. |
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5. | FIRST YEAR ADOPTION |
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Upon first time adoption of FRS 102 1A, there were no items that affected the financial position or the financial |
performance of the company. |
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CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
E-STREAM-E LIMITED |
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The following reproduces the text of the report prepared for the director in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary |
statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of E-Stream-E Limited for the year ended 31 December 2016 which comprise the Abridged Income |
Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information |
and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the director of E-Stream-E Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of E-Stream-E Limited and state those matters that we have agreed to state to the director of E-Stream-E Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than E-Stream-E Limited director for our work or for this report. |
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It is your duty to ensure that E-Stream-E Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of E-Stream-E Limited. You consider that E-Stream-E Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of E-Stream-E Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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88 Crawford Street |
London |
W1H 2EJ |
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