EGOSTREAM_(UK)_LIMITED - Accounts

EGOSTREAM (UK) LIMITED - Company Information

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Company Registration No. 07550536 (England and Wales)

EGOSTREAM (UK) LIMITED

ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

EGOSTREAM (UK) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

EGOSTREAM (UK) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Intangible assets

280,000

320,000

Tangible assets

4,007

5,343

284,007

325,343

Current assets

Debtors

15,493

15,600

15,493

15,600

Creditors: amounts falling due within one year

(117,071)

(189,285)

Net current liabilities

(101,578)

(173,685)

Total assets less current liabilities

182,429

151,658

Capital and reserves

Called up share capital

100

Profit and loss account

182,329

151,558

Shareholders' funds

182,429

151,658

The accompanying accounting policies and notes form part of these financial statements.

For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 2 April 2015

P A Stephenson

Director

Company Registration No. 07550536

EGOSTREAM (UK) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Research and development

Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.

1.6

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

25% reducing balance

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2013 & at 31 March 2014

400,000

9,561

409,561

Depreciation

At 1 April 2013

80,000

4,218

84,218

Charge for the year

40,000

1,336

41,336

At 31 March 2014

120,000

5,554

125,554

Net book value

At 31 March 2014

280,000

4,007

284,007

At 31 March 2013

320,000

5,343

325,343

EGOSTREAM (UK) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 3 -

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary of £1 each

100

Related party relationships and transactions

Loans to directors

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

P A Stephenson and L C Cumber

(62,216)

74,009

11,793

(62,216)

74,009

11,793