Company Registration No. SC217705 (Scotland)
The Easthaven Group Limited
Abbreviated financial statements
for the year ended 30 April 2016
The Easthaven Group Limited
Contents
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated financial statements
3 - 5
The Easthaven Group Limited
Abbreviated balance sheet
as at 30 April 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
12,043
17,391
Current assets
Debtors
55,956
103,721
Cash at bank and in hand
75,752
50,518
131,708
154,239
Creditors: amounts falling due within one year
(58,806)
(109,650)
Net current assets
72,902
44,589
Total assets less current liabilities
84,945
61,980
Provisions for liabilities
(4,548)
(3,478)
80,397
58,502
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
80,297
58,402
Shareholders' funds
80,397
58,502
The Easthaven Group Limited
Abbreviated balance sheet (continued)
as at 30 April 2016
- 2 -
For the financial year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges her 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 23 August 2016
Ms S Newman
Director
Company Registration No. SC217705
The Easthaven Group Limited
Notes to the abbreviated financial statements
for the year ended 30 April 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 prepared on going concern basis. The director has considered the future contracts, opportunities and the potential liabilities of the company that are likely to arise over the next twelve months, and has deemed the going concern basis to be appropriate.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
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:
Plant and machinery
33% reducing balance
Computer equipment
33% reducing balance
Fixtures, fittings & equipment
25% reducing balance
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
The Easthaven Group Limited
Notes to the abbreviated financial statements (continued)
for the year ended 30 April 2016
1
Accounting policies (continued)
- 4 -
1.7
Taxation
The tax expense represents the sum of the corporation tax and deferred tax charge for the year.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using the tax rates that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is measured on differences between the carrying amounts of assets and liabilities in the accounts and the corresponding tax bases, as used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all temporary timing differences that have not reversed by the balance sheet date and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available. Deferred tax is calculated at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is charged or credited in the profit and loss accounts, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Fixed assets
Tangible assets
£
Cost
At 1 May 2015 & at 30 April 2016
74,082
Depreciation
At 1 May 2015
56,691
Charge for the year
5,348
At 30 April 2016
62,039
Net book value
At 30 April 2016
12,043
At 30 April 2015
17,391
The Easthaven Group Limited
Notes to the abbreviated financial statements (continued)
for the year ended 30 April 2016
- 5 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100