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

REGISTERED NUMBER: 10515111 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2019

for

Ecoratio Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Hollenbenders

REGISTERED OFFICE:

Regus House Herald Way

Pegasus Business Park

Castle Donington

Derby

DE74 2TZ

REGISTERED NUMBER:

10515111 (England and Wales)

ACCOUNTANTS:

Jeffrey Crawford & Co

Chartered Accountants

25 Castle Terrace

Edinburgh

EH1 2ER

FIXED ASSETS

Tangible assets

4

18,596

41,171

CURRENT ASSETS

Stocks

67,409

87,662

Debtors

5

93,996

157,976

Cash at bank

68,053

44,288

229,458

289,926

CREDITORS

Amounts falling due within one year

6

289,351

370,919

NET CURRENT LIABILITIES

(59,893

)

(80,993

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(41,297

)

(39,822

)

CAPITAL AND RESERVES

Called up share capital

25,000

25,000

Retained earnings

(66,297

)

(64,822

)

(41,297

)

(39,822

)

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 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 and authorised for issue on 16 April 2020 and were signed by:

M Hollenbenders - Director

1.	STATUTORY INFORMATION

Ecoratio 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.

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

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.

Going concern

The accounts are prepared on a going concern basis as the directors are working to reverse the current year losses

before taxes and return to profits. The directors have reasonable expectation that the company has adequate

resources to continue in expectational existence for the foreseeable future.

Significant judgements and estimates

The preparation of the financial statements requires management to make significant judgements and estimates.

The accounts include provision for bad debts of 50% of balances outstanding for over 90 days.

Turnover

Turnover represents the value, net of value added tax and discounts, of amounts invoiced during the year in respect

of goods and services provided to customers and is recognised when goods are delivered.

Tangible fixed assets

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

Plant and machinery etc

1-5 years

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have

suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected

asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying

amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or

loss.

Stocks

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

moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets

and liabilities like trade and other accounts receivable and payable, directors loan and bank loan.

Trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration

expected to be paid or received.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and

subsequently at amortised cost using the effective interest method.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance

sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of

transaction. Exchange differences are taken into account in arriving at the operating result.

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

Plant and

machinery

etc

£

COST

At 1 January 2019

63,428

Additions

6,534

Disposals

(28,342

)

At 31 December 2019

41,620

DEPRECIATION

At 1 January 2019

22,257

Charge for year

12,853

Eliminated on disposal

(12,086

)

At 31 December 2019

23,024

NET BOOK VALUE

At 31 December 2019

18,596

At 31 December 2018

41,171

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

75,644

139,006

Other debtors

18,352

18,970

93,996

157,976

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

4,176

3,882

Amounts owed to group undertakings

255,467

322,644

Taxation and social security

17,448

23,635

Other creditors

12,260

20,758

289,351

370,919

7.	RELATED PARTY DISCLOSURES