East Stuff Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07049776 (England and Wales)

Financial Statements

for the Year Ended 31 December 2019

for

East Stuff Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

S Bhatt

S J Chen

M Mutz

E E S Teo

REGISTERED OFFICE:

Studio 1, Unit 32

Wimbledon Stadium Business Centre

London

SW17 0BA

REGISTERED NUMBER:

07049776 (England and Wales)

ACCOUNTANTS:

Barnbrook Sinclair

Chartered Accountants

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

FIXED ASSETS

Tangible assets

5

28,820

23,490

CURRENT ASSETS

Stocks

261,403

400,053

Debtors

6

295,326

284,568

Cash at bank and in hand

181,775

348,448

738,504

1,033,069

CREDITORS

Amounts falling due within one year

7

(234,085

)

(249,895

)

NET CURRENT ASSETS

504,419

783,174

TOTAL ASSETS LESS CURRENT LIABILITIES

533,239

806,664

CREDITORS

Amounts falling due after more than one year

8

(14,944

)

-

PROVISIONS FOR LIABILITIES

(5,476

)

(4,463

)

NET ASSETS

512,819

802,201

CAPITAL AND RESERVES

Called up share capital

131,580

486,338

Retained earnings

381,239

315,863

SHAREHOLDERS' FUNDS

512,819

802,201

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors on 1 March 2020 and were signed on its behalf by:

E E S Teo - Director

1.	STATUTORY INFORMATION

East Stuff 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.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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 Statement of Income and

Retained Earnings, 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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2018 - 8 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

Cost

At 1 January 2019

24,701

21,580

20,537

66,818

Additions

-

21,166

1,890

23,056

Disposals

-

(21,580

)

-

(21,580

)

At 31 December 2019

24,701

21,166

22,427

68,294

Depreciation

At 1 January 2019

17,319

12,476

13,533

43,328

Charge for year

1,107

6,050

2,223

9,380

Eliminated on disposal

-

(13,234

)

-

(13,234

)

At 31 December 2019

18,426

5,292

15,756

39,474

Net book value

At 31 December 2019

6,275

15,874

6,671

28,820

At 31 December 2018

7,382

9,104

7,004

23,490

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/19

31/12/18

£

£

Trade debtors

280,926

248,862

Other debtors

-

19,720

Prepayments and accrued income

14,400

15,986

295,326

284,568

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/19

31/12/18

£

£

Hire purchase contracts (see note 9)

3,060

10,676

Trade creditors

102,390

69,952

Tax

25,268

44,682

Social security and other taxes

4,737

9,795

VAT

36,798

43,568

Other creditors and accruals

61,832

71,222

234,085

249,895

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/19

31/12/18

£

£

Hire purchase contracts (see note 9)

14,944

-

The hire purchase contracts are secured over the related asset.

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31/12/19

31/12/18

£

£

Gross obligations repayable:

Within one year

5,584

11,158

Between one and five years

18,309

-

23,893

11,158

Finance charges repayable:

Within one year

2,524

482

Between one and five years

3,365

-

5,889

482

Net obligations repayable:

Within one year

3,060

10,676

Between one and five years

14,944

-

18,004

10,676

Non-cancellable operating

leases

31/12/19

31/12/18

£

£

Within one year

38,736

-

Between one and five years

58,104

-

96,840

-

10.	SHARE CAPITAL

On 15 March 2019, the company cancelled and repaid 200,000 ordinary shares at par value of £218,327.

On 22 November 2019, the company cancelled and repaid a further 160,000 ordinary shares at par value of

£136,431.

Accordingly over the year the share capital of the company reduced from £486,338 to £131,580.