for the Period Ended 29 February 2020
Company Information - 3 | |
Report of the Directors - 4 | |
Balance sheet - 5 | |
Additional notes - 7 | |
Balance sheet notes - 10 |
for the Period Ended 29 February 2020
Director: |
|
|
|
||
Registered office: |
England |
|
Company Registration Number: |
|
|
The directors present their report with the financial statements of the company for the period ended 29 February 2020
Additional information
During 2019-2020 the directors committed a large investment into the business with the intention of growing the business ready for an increased turnover during 2020-2021. One of the investments made was an increase in headcount. Orders were committed and every indication from both new and existing clients was for an increased demand and growth during the trading year 2020-2021. Sadly, Coronavirus caused the immediate termination of many contracts that were due to be carried out in 2020-2021. Turnover reduced immediately during the first few weeks of our financial year in March 2021. The directors took immediate and decisive action to offset the loss. All overheads were reduced and a restructuring of staff was carried out to address the issue. Since the 2019-2020 year end the company has been adversely affected by the Coronavirus situation but has taken all possible measures to ensure the business will continue once the situation resolves. A loan was secured via the Government bounce back scheme to cover overheads during 2020-2021 and the repayments have been factored into the projections for 2021 and onwards. At the date of signing this report the directors are confident that the business can continue until the UK economy picks up during 2021 and they look forward tentatively to the 2021-2022 trading year.
Directors
The directors shown below have held office during the whole of the period from 01 March 2019 to 29 February 2020
This report was approved by the board of directors on
And Signed On Behalf Of The Board By:
Name:
Status: Director
As at
Notes |
2020 £ |
2019 £ |
|
---|---|---|---|
Fixed assets | |||
Tangible assets: | 4 |
|
|
Total fixed assets: |
|
|
|
Current assets | |||
Debtors: | 5 |
|
|
Cash at bank and in hand: |
|
|
|
Total current assets: |
|
|
|
Creditors: amounts falling due within one year: | 6 |
( |
( |
Net current assets (liabilities): |
|
|
|
Total assets less current liabilities: |
|
|
|
Creditors: amounts falling due after more than one year: | 7 |
( |
( |
Total net assets (liabilities): |
( |
|
The notes form part of these financial statements
As at 29 February 2020
Notes |
2020 £ |
2019 £ |
|
---|---|---|---|
Capital and reserves | |||
Called up share capital: |
|
|
|
Profit and loss account: |
( |
|
|
Shareholders funds: |
( |
|
This report was approved by the board of directors on
And Signed On Behalf Of The Board By:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 29 February 2020
Basis of measurement and preparation
Turnover policy
Tangible fixed assets depreciation policy
Office Equipment - 25% on cost.
for the Period Ended 29 February 2020
2020 |
2019 |
|
---|---|---|
Average number of employees during the period |
|
|
for the Period Ended 29 February 2020
for the Period Ended 29 February 2020
Office equipment | Total | |
---|---|---|
Cost | £ | £ |
At 01 March 2019 |
|
|
Additions |
|
|
Disposals |
(
|
(
|
Revaluations | - | - |
Transfers | - | - |
At 29 February 2020 |
|
|
Depreciation | ||
At 01 March 2019 |
|
|
Charge for year |
|
|
On disposals |
(
|
(
|
Other adjustments | - | - |
At 29 February 2020 |
|
|
Net book value | ||
At 29 February 2020 |
|
|
At 28 February 2019 |
|
|
for the Period Ended 29 February 2020
2020 £ |
2019 £ |
|
---|---|---|
Trade debtors |
|
|
Prepayments and accrued income |
|
|
Other debtors |
|
|
Total |
|
|
for the Period Ended 29 February 2020
2020 £ |
2019 £ |
|
---|---|---|
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Taxation and social security |
|
|
Accruals and deferred income |
|
|
Other creditors |
|
|
Total |
|
|
for the Period Ended 29 February 2020
2020 £ |
2019 £ |
|
---|---|---|
Other creditors |
|
|
Total |
|
|
for the Period Ended 29 February 2020