EABT Limited - Filleted accounts
EABT Limited - Filleted accounts
Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2020 | 2019 | |||||
£ | £ | ||||||
Current assets | |||||||
Debtors | 3 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 4 | - | ( |
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Net current assets | |||||||
Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | |||||||
Shareholders' funds | |||||||
Piers Bingley | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Financial Statements | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Accounting Convention | ||||||||
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. |
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Turnover | ||||||||
Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: - the Company has transferred the significant risks and rewards of ownership to the buyer; - the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due under the transaction; - the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
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Tangible fixed assets | ||||||||
Impairment of fixed assets | ||||||||
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss. |
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Cash and cash equivalents | ||||||||
Basic financial assets | ||||||||
Basic financial liabilities | ||||||||
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
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Taxation | ||||||||
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority. |
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2 | Share Capital | Nominal | 2017 | 2020 | 2019 | |||
value | Number | £ | £ | |||||
Allotted, called up and fully paid: | ||||||||
£ |
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2 | 2 | |||||||
3 | Debtors | 2020 | 2019 | |||||
£ | £ | |||||||
Trade debtors | ||||||||
Amounts due after more than one year included above | ||||||||
4 | Creditors: amounts falling due within one year | 2020 | 2019 | |||||
£ | £ | |||||||
Corporation tax | - | |||||||
Other creditors | - | |||||||
- | ||||||||
5 | Related party transactions | |||||||
6 | Other information | |||||||
EABT Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
Unit 5 | ||||||||
3 Eastfields Avenue | ||||||||
Riverside Quarter | ||||||||
London | ||||||||
SW18 1GN |