Entec Integrated Technologies Limited - Accounts to registrar (filleted) - small 18.2
Entec Integrated Technologies Limited - Accounts to registrar (filleted) - small 18.2
ENTEC INTEGRATED TECHNOLOGIES LIMITED |
Unaudited Financial Statements |
for the Year Ended 31 December 2018 |
ENTEC INTEGRATED TECHNOLOGIES LIMITED (REGISTERED NUMBER: 03613377) |
Contents of the Financial Statements |
for the year ended 31 December 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
ENTEC INTEGRATED TECHNOLOGIES LIMITED |
Company Information |
for the year ended 31 December 2018 |
Director: |
Registered office: |
Registered number: |
ENTEC INTEGRATED TECHNOLOGIES LIMITED (REGISTERED NUMBER: 03613377) |
Balance Sheet |
31 December 2018 |
2018 | 2017 |
Notes | € | € |
Current assets |
Debtors | 3 |
Creditors |
Amounts falling due within one year | 4 |
Net current (liabilities)/assets | ( |
) |
Total assets less current liabilities | ( |
) |
Capital and reserves |
Called up share capital |
Retained earnings | ( |
) |
Shareholders' funds | ( |
) |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director on |
ENTEC INTEGRATED TECHNOLOGIES LIMITED (REGISTERED NUMBER: 03613377) |
Notes to the Financial Statements |
for the year ended 31 December 2018 |
1. | Statutory information |
Entec Integrated Technologies Limited is a |
Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
ENTEC INTEGRATED TECHNOLOGIES LIMITED (REGISTERED NUMBER: 03613377) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2018 |
2. | Accounting policies - continued |
Going concern |
These financial statements have been prepared on a going concern basis. |
The current economic conditions present increased risks for all businesses. In response to such conditions, the |
directors have carefully considered these risks including an assessment on uncertainty on future trading |
projection for a period of at least 12 months from the date of signing the financial statements, and the extent |
to which they might affect the preparation of the financial statements on a going concern basis. |
Based on assessment, the directors consider that the Company maintains an appropriate level of liquidity, |
sufficient to meet the demands of the business including any capital and servicing obligations and external |
debt liabilities. |
In addition, the Company's assets are assessed for recoverability on a regular basis, and the directors consider |
that the Company is not exposed to losses on these assets which would affect their decision to adopt the going |
concern basis. |
The directors have a reasonable expectation that the Company has adequate resources to continue in |
operational existence for the foreseeable future and that there are no material uncertainties that lead to |
significant doubts upon the Company's ability to continue as a going concern. Thus the directors have |
continued to adopt the going concern basis of accounting in preparing these financial statements. |
Financial instruments |
Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions |
of the financial instrument. The Company holds basic financial instruments which comprise cash and cash |
equivalents, convertible loan notes and loans and borrowings. The company has chosen to apply the provisions |
of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments in full. |
Financial assets - classified as basic financial instruments |
(i) Cash and cash equivalents include cash in hand, deposits held with banks, and other short-term highly |
liquid investments with original maturities of three months or less. |
(ii) Trade and other payables and loans and borrowings |
Trade and other payables and loans and borrowings are initially measured at the transaction price, including |
any transaction costs, and subsequently measured at amortised cost using the effective interest method. |
Amounts that are payable within one year are measured at the discounted amount of the cash expected to be |
paid. |
3. | Debtors: amounts falling due within one year |
2018 | 2017 |
€ | € |
Directors' loan accounts | - | 19,375 |
4. | Creditors: amounts falling due within one year |
2018 | 2017 |
€ | € |
Tax |
Directors' loan accounts | 30,344 | - |
ENTEC INTEGRATED TECHNOLOGIES LIMITED (REGISTERED NUMBER: 03613377) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2018 |
5. | Ultimate controlling party |
The controlling party is Elio Poggiagliolmi. |