Economex Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07453189 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2019

for

ECONOMEX LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A J Middleton

Mrs P M Middleton

R J Middleton

REGISTERED OFFICE:

20 Sansome Walk

Worcester

Worcestershire

WR1 1LR

REGISTERED NUMBER:

07453189 (England and Wales)

ACCOUNTANTS:

Boyds

20 Sansome Walk

Worcester

WR1 1LR

FIXED ASSETS

Tangible assets

4

560

-

CURRENT ASSETS

Debtors

5

126

3,939

Cash at bank

11,459

41,384

11,585

45,323

CREDITORS

Amounts falling due within one year

6

8,313

36,341

NET CURRENT ASSETS

3,272

8,982

TOTAL ASSETS LESS CURRENT LIABILITIES

3,832

8,982

CAPITAL AND RESERVES

Called up share capital

250

250

Retained earnings

3,582

8,732

SHAREHOLDERS' FUNDS

3,832

8,982

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 13 March 2020 and were signed on its behalf by:

A J Middleton - Director

1.	STATUTORY INFORMATION

Economex Limited 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 etc

-

33.33% on cost

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.

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 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1 December 2018

10,046

Additions

840

At 30 November 2019

10,886

DEPRECIATION

At 1 December 2018

10,046

Charge for year

280

At 30 November 2019

10,326

NET BOOK VALUE

At 30 November 2019

560

At 30 November 2018

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

53

3,866

Prepayments

73

73

126

3,939

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

1

160

Social security and other taxes

-

156

VAT

346

2,010

Directors' current accounts

7,366

33,415

Accrued expenses

600

600

8,313

36,341