Company Registration No. 08344825 (England and Wales)
ECOMOVES NATIONWIDE LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
ECOMOVES NATIONWIDE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
ECOMOVES NATIONWIDE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
31 January 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
66,080
75,520
Tangible assets
2
12,672
16,457
78,752
91,977
Current assets
Stocks
1,000
1,000
Debtors
3
-
8,590
Cash at bank and in hand
4,119
2,424
5,119
12,014
Creditors: amounts falling due within one year
(41,595)
(38,312)
Net current liabilities
(36,476)
(26,298)
Total assets less current liabilities
42,276
65,679
Creditors: amounts falling due after more than one year
(100,579)
(102,175)
(58,303)
(36,496)
Capital and reserves
Called up share capital
4
100
100
Profit and loss account
(58,403)
(36,596)
Shareholders' funds
(58,303)
(36,496)
ECOMOVES NATIONWIDE LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2016
31 January 2016
- 2 -
For the financial year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 27 October 2016
Mr D J Marks
Director
Company Registration No. 08344825
ECOMOVES NATIONWIDE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The financial statements have been drawn up on the going concern basis, notwithstanding the adverse balance on the profit and loss account. The directors believe that this basis is appropriate since the financial support they are providing to the company will enable it to meet its liabilities as they fall due for payment.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT.
1.3
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
25% per annum on the written down value
Motor vehicles
25% per annum on the written down value
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
Deferred taxation
Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.
The deferred tax balance has not been discounted.
ECOMOVES NATIONWIDE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 February 2015
94,400
26,011
120,411
Additions
-
442
442
At 31 January 2016
94,400
26,453
120,853
Depreciation
At 1 February 2015
18,880
9,554
28,434
Charge for the year
9,440
4,227
13,667
At 31 January 2016
28,320
13,781
42,101
Net book value
At 31 January 2016
66,080
12,672
78,752
At 31 January 2015
75,520
16,457
91,977
3
Debtors
Debtors include an amount of £0 (2015 - £8,311) which is due after more than one year.
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100