Easyshelf Direct Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07951727 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2019

for

Easyshelf Direct Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

6

DIRECTOR:

Mr Inanc Elitok

REGISTERED OFFICE:

205-207 Lea Bridge Road

Leyton

London

E10 7PN

REGISTERED NUMBER:

07951727 (England and Wales)

ACCOUNTANTS:

ADPL LLP

293 Green Lanes

London

N13 4XS

FIXED ASSETS

Tangible assets

4

38,888

48,403

CURRENT ASSETS

Stocks

451,300

422,333

Debtors

5

612,300

548,314

Cash at bank and in hand

75,771

22,633

1,139,371

993,280

CREDITORS

Amounts falling due within one year

6

590,017

464,873

NET CURRENT ASSETS

549,354

528,407

TOTAL ASSETS LESS CURRENT LIABILITIES

588,242

576,810

PROVISIONS FOR LIABILITIES

7,389

9,632

NET ASSETS

580,853

567,178

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

580,753

567,078

SHAREHOLDERS' FUNDS

580,853

567,178

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 18 October 2019 and were signed by:

Mr Inanc Elitok - Director

1.	STATUTORY INFORMATION

Easyshelf Direct Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

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

value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2018 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 February 2018

and 31 January 2019

3,067

2,275

102,355

107,697

DEPRECIATION

At 1 February 2018

1,706

341

57,247

59,294

Charge for year

204

290

9,021

9,515

At 31 January 2019

1,910

631

66,268

68,809

NET BOOK VALUE

At 31 January 2019

1,157

1,644

36,087

38,888

At 31 January 2018

1,361

1,934

45,108

48,403

5.

DEBTORS

31.1.19

31.1.18

£

£

Amounts falling due within one year:

Trade debtors

25,314

25,314

Other debtors

126,986

43,000

152,300

68,314

Amounts falling due after more than one year:

Other debtors

460,000

480,000

Aggregate amounts

612,300

548,314

The £460,000 relates to loan to Elitok Properties Limited.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Trade creditors

507,382

378,454

Taxation and social security

45,220

86,419

Other creditors

37,415

-

590,017

464,873

7.	RELATED PARTY DISCLOSURES

Mr Inanc Elitok is also the director of Elitok Properties Ltd.

At the reporting date, Elitok Properties Ltd owed £460,000 (2018: £480,000) to Easyshelf Direct Ltd.

8.	ULTIMATE CONTROLLING PARTY

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Easyshelf Direct Ltd for the year ended 31 January 2019 which comprise the Income Statement,

Balance Sheet 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Easyshelf Direct Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Easyshelf Direct Ltd and state those matters that we have agreed to state to the director of Easyshelf Direct Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Easyshelf Direct Ltd 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 Easyshelf Direct Ltd. You consider that Easyshelf Direct Ltd 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 Easyshelf Direct Ltd. 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.

ADPL LLP

293 Green Lanes

London

N13 4XS

Date: .............................................