REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 May 2020 |
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L-EVATE LIMITED |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 May 2020 |
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L-EVATE LIMITED |
L-EVATE LIMITED (Registered number: 10166061) |
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Contents of the Financial Statements |
for the Year Ended 31 May 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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L-EVATE LIMITED |
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Company Information |
for the Year Ended 31 May 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants and Statutory Auditors |
Centurion House |
London Road |
Staines-Upon-Thames |
Surrey |
TW18 4AX |
L-EVATE LIMITED (Registered number: 10166061) |
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Balance Sheet |
31 May 2020 |
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31.5.20 | 31.5.19 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Retained earnings | 7 | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their 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 Board of Directors and authorised for issue on
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L-EVATE LIMITED (Registered number: 10166061) |
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Notes to the Financial Statements |
for the Year Ended 31 May 2020 |
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1. | STATUTORY INFORMATION |
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L-EVATE LIMITED is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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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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Going concern |
The going concern concept is a fundamental accounting conception, as such, underlines the preparation of financial statements. The Companies Act 2006 also requires that the company shall be presumed to be carrying on business as a going concern. The company's balance sheet is showing a net liabilities position of £8,580. This indicates that the company might not be a going concern. However, the company has assurance of continued financial support of its directors and its key creditors. They are confident that the company will overcome its current difficulties in the foreseeable future. Therefore, the directors have determined that the accounts are prepared on the going concern basis. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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L-EVATE LIMITED (Registered number: 10166061) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2020 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.20 | 31.5.19 |
£ | £ |
Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.20 | 31.5.19 |
£ | £ |
Taxation and social security |
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Other creditors |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.20 | 31.5.19 |
value: | £ | £ |
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Ordinary shares | £ 1 | 2 | 2 |
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7. | RESERVES |
Retained |
earnings |
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At 1 June 2019 | ( |
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Deficit for the year | ( |
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At 31 May 2020 | ( |
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8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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Both directors incurred administrative expenses on behalf of the company of £780 and £600 respectively during the year, at the balance sheet date these amounts remained payable. |
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9. | POST BALANCE SHEET EVENTS |
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Subsequent to the financial year end, the COVID-19 global pandemic which developed rapidly in the first half of 2020 has had a significant impact as measures taken by various governments to contain the virus have affected economic activity. In response we have adapted our services to best meet the needs of our customers at this time and for the foreseeable future. We have taken a number of measures to minimise the risk of the COVID-19 virus for our staff (for example social distancing and working from home). At this stage, we believe that there will be some impact from COVID-19 on our business and results and we will continue to refine our services mix to provide the most relevant solutions for our customers. We anticipate these adaptations will ensure an uptick in company's revenues and profitability. |