Executives Online (Midlands) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06024045 (England and Wales)

EXECUTIVES ONLINE (MIDLANDS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

A Nicholas

Ms L Burton

SECRETARY:

Ms L Burton

REGISTERED OFFICE:

26 Park Road

Melton Mowbray

Leicestershire

LE13 1TT

REGISTERED NUMBER:

06024045 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

26 Park Road

Melton Mowbray

Leicestershire

LE13 1TT

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

1,061

1,541

1,061

1,541

CURRENT ASSETS

Debtors

6

13,272

9,167

Cash at bank

98,003

150,642

111,275

159,809

CREDITORS

Amounts falling due within one year

7

26,146

38,264

NET CURRENT ASSETS

85,129

121,545

TOTAL ASSETS LESS CURRENT LIABILITIES

86,190

123,086

PROVISIONS FOR LIABILITIES

180

262

NET ASSETS

86,010

122,824

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

85,910

122,724

SHAREHOLDERS' FUNDS

86,010

122,824

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20 March 2019 and were signed on its behalf by:

A Nicholas - Director

Ms L Burton - Director

1.	STATUTORY INFORMATION

Executives Online (Midlands) Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information

page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Intangible assets

Intangible assets represent a franchise fee which was initially measured at cost. After initial recognition, the

franchise fee was amortised evenly over it's estimated useful life of 5 years.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33.33% on cost and 20% on reducing balance

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.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2018

and 31 December 2018

32,000

AMORTISATION

At 1 January 2018

and 31 December 2018

32,000

NET BOOK VALUE

At 31 December 2018

-

At 31 December 2017

-

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 January 2018

11,584

Additions

650

At 31 December 2018

12,234

DEPRECIATION

At 1 January 2018

10,043

Charge for year

1,130

At 31 December 2018

11,173

NET BOOK VALUE

At 31 December 2018

1,061

At 31 December 2017

1,541

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

13,272

6,360

Directors' current accounts

-

2,807

13,272

9,167

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

115

-

Taxation

18,353

24,978

Other taxes and social security

2,649

2,463

Credit card control account

266

503

Other creditors

-

7,020

Directors' current accounts

1,878

-

Accrued expenses

2,885

3,300

26,146

38,264

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2018 and

31 December 2017:

2018

2017

£

£

A Nicholas and Ms L Burton

Balance outstanding at start of year

2,807

(37

)

Amounts advanced

3,203

4,456

Amounts repaid

(7,888

)

(1,612

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,878

)

2,807