E-Bound AVX Limited Filleted accounts for Companies House (small and micro)

E-BOUND AVX LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06930086

E-Bound AVX Limited

Filleted Unaudited Financial Statements

31 December 2018

E-Bound AVX Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of E-Bound AVX Limited

for the year ended 31st December 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of E-Bound AVX Limited for the year ended 31st December 2018, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of E-Bound AVX Limited, as a body, in accordance with the terms of our engagement letter dated 10th September 2018. Our work has been undertaken solely to prepare for your approval the financial statements of E-Bound AVX Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than E-Bound AVX Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that E-Bound AVX Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of E-Bound AVX Limited. You consider that E-Bound AVX Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of E-Bound AVX Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

MOORE THOMPSON Chartered Accountants

Unit 7, Swan Court Forder Way Cygnet Park Hampton Peterborough PE7 8GX

Dated: 17 April 2019

E-Bound AVX Limited

Statement of Financial Position

as at 31 December 2018

	2018		2017
Note	£	£	£	£

Fixed assets

Tangible assets	5		84,777		130,758

Current assets

Stocks		56,489	50,573
Debtors	6	95,946	99,969
Cash at bank and in hand		120,287	174,866
		---------	---------
		272,722	325,408

Creditors: amounts falling due within one year	7	( 154,588)		( 189,961)
		---------		---------
Net current assets			118,134		135,447
			---------		---------
Total assets less current liabilities			202,911		266,205

Creditors: amounts falling due after more than one year	8		( 13,364)		( 44,380)

Provisions

Taxation including deferred tax	3,333	–
	---------	---------
Net assets	192,880	221,825
	---------	---------

Capital and reserves

Called up share capital	115	115
Profit and loss account	192,765	221,710
	---------	---------
Shareholders funds	192,880	221,825
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31st December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

E-Bound AVX Limited

Statement of Financial Position (continued)

as at 31 December 2018

These financial statements were approved by the board of directors and authorised for issue on 17 April 2019 , and are signed on behalf of the board by:

Mr A Brown - Director Miss L Franklin - Director Miss H Goodley - Director

Company registration number: 06930086

E-Bound AVX Limited

Notes to the Financial Statements

for the year ended 31st December 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Swan Court, Forder Way, Cygnet Park, Hampton, Peterborough, PE7 8GX.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

3.1 Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

3.2 Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

3.3 Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

3.4 Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

3.5 Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor vehicles	-	25% reducing balance
Office equipment	-	33% straight line

3.6 Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

3.7 Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3.8 Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 21 (2017: 23 ).

5. Tangible assets

Motor vehicles	Equipment	Total
£	£	£

Cost
At 1 01 18	174,522	23,662	198,184
Additions	–	880	880
Disposals	( 20,554)	–	( 20,554)
	---------	--------	---------
At 31 12 18	153,968	24,542	178,510
	---------	--------	---------
Depreciation
At 1 01 18	53,350	14,076	67,426
Charge for the year	27,125	7,066	34,191
Disposals	( 7,884)	–	( 7,884)
	---------	--------	---------
At 31 12 18	72,591	21,142	93,733
	---------	--------	---------
Carrying amount
At 31 12 18	81,377	3,400	84,777
	---------	--------	---------
At 31 12 17	121,172	9,586	130,758
	---------	--------	---------

6. Debtors

	2018	2017
	£	£

Trade debtors	88,974	84,084
Other debtors	6,972	15,885
	--------	--------
	95,946	99,969
	--------	--------

7. Creditors: amounts falling due within one year

	2018	2017
	£	£

Trade creditors	76,680	105,392
Accruals and deferred income	3,930	3,450
Social security and other taxes	36,538	42,714
Obligations under finance leases and hire purchase contracts	32,192	36,827
Director loan accounts	5,248	1,578
	---------	---------
	154,588	189,961
	---------	---------

8. Creditors: amounts falling due after more than one year

	2018	2017
	£	£

Obligations under finance leases and hire purchase contracts	13,364	44,380
	--------	--------

9. Directors' advances, credits and guarantees

There were no transactions with the Directors in the current or previous year that needs to be disclosed.