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Unaudited Financial Statements for the Year Ended 31 March 2016 |
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eConnect Cars Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 March 2016 |
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for |
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eConnect Cars Limited |
eConnect Cars Limited (Registered number: 08459290) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2016 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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eConnect Cars Limited |
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Company Information |
for the Year Ended 31 March 2016 |
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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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Bethersden |
Ashford |
Kent |
TN26 3JY |
eConnect Cars Limited (Registered number: 08459290) |
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Balance Sheet |
31 March 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors: amounts falling due within one year | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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. |
eConnect Cars Limited (Registered number: 08459290) |
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Balance Sheet - continued |
31 March 2016 |
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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 on
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eConnect Cars Limited (Registered number: 08459290) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2016 |
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1. | STATUTORY INFORMATION |
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eConnect Cars 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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This is the first year in which the financial statements have been prepared under FRS 102. |
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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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Tangible fixed assets |
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Motor Vehicles | - |
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Fixtures and fittings | - |
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Motor vehicle equipment | - |
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Computer equipment | - |
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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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The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending |
on the transaction that resulted in the tax expense (income). |
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Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. |
Deferred tax assets and deferred tax liabilities are offset only if: |
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- the group has a legally enforceable right to set off current tax assets against current tax liabilities, and |
- the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation |
authority on either the same taxable entity or different taxable entities which intend either to settle current |
tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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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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eConnect Cars Limited (Registered number: 08459290) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2016 |
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4. | INTANGIBLE FIXED ASSETS |
Development |
costs |
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COST |
Additions |
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At 31 March 2016 |
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NET BOOK VALUE |
At 31 March 2016 |
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The development of a software prototype for managing electric vehicles at scale is nearing completion and will |
be amortised once the project has been completed and commercial application begun. |
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5. | TANGIBLE FIXED ASSETS |
Fixtures | Motor |
Motor | and | vehicle | Computer |
Vehicles | fittings | equipment | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2015 |
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Additions |
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At 31 March 2016 |
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DEPRECIATION |
At 1 April 2015 |
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Charge for year |
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At 31 March 2016 |
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NET BOOK VALUE |
At 31 March 2016 |
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At 31 March 2015 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
Vehicles |
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COST |
At 1 April 2015 |
and 31 March 2016 |
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DEPRECIATION |
At 1 April 2015 |
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Charge for year |
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At 31 March 2016 |
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NET BOOK VALUE |
At 31 March 2016 |
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At 31 March 2015 |
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eConnect Cars Limited (Registered number: 08459290) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2016 | 2015 |
£ | £ |
Hire purchase contracts |
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9. | DEFERRED TAX |
£ |
Tax Losses | (193,135 | ) |
Accelerated Capital Allowances | 22,377 |
Balance at 31 March 2016 | ( |
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