Everflow Tech Limited - Accounts to registrar (filleted) - small 18.2
Everflow Tech Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Financial Statements |
for the Period |
2 August 2018 to 31 December 2019 |
for |
Everflow Tech Limited |
Everflow Tech Limited (Registered number: 11497867) |
Contents of the Financial Statements |
for the Period 2 August 2018 to 31 December 2019 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Everflow Tech Limited |
Company Information |
for the Period 2 August 2018 to 31 December 2019 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Accountants |
& Statutory Auditors |
140 Coniscliffe Road |
DARLINGTON |
County Durham |
DL3 7RT |
Everflow Tech Limited (Registered number: 11497867) |
Balance Sheet |
31 December 2019 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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 and authorised for issue on signed on its behalf by: |
Everflow Tech Limited (Registered number: 11497867) |
Notes to the Financial Statements |
for the Period 2 August 2018 to 31 December 2019 |
1. | STATUTORY INFORMATION |
Everflow Tech Limited is a |
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 |
There were no departures from that standard. |
The principal accounting policies adopted in the preparation of the financial statements are set out below and |
have remained unchanged from the previous year, and also have been consistently applied within the same |
accounts. |
Going concern |
After reviewing the group's forecasts and projections, the directors have a reasonable expectation that the |
company, with the support of the group, has adequate resources to continue in operational existence for the |
foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial |
statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with the parent company and wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
Income recognition |
Income is recognised in the period which the licence to use the software is provided to the customer. |
Intangible assets |
Intangible assets are initially recorded at cost. After initial recognition, intangible assets are measured at cost less |
any accumulated amortisation and any accumulated impairment losses. |
Computer software is currently being amortised over the useful life of 10 years. |
Tangible fixed assets |
Computer equipment | - |
Financial instruments |
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. |
Everflow Tech Limited (Registered number: 11497867) |
Notes to the Financial Statements - continued |
for the Period 2 August 2018 to 31 December 2019 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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 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 period 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Computer |
software |
£ |
COST |
Additions |
At 31 December 2019 |
AMORTISATION |
Amortisation for period |
At 31 December 2019 |
NET BOOK VALUE |
At 31 December 2019 |
Everflow Tech Limited (Registered number: 11497867) |
Notes to the Financial Statements - continued |
for the Period 2 August 2018 to 31 December 2019 |
5. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
Additions |
At 31 December 2019 |
DEPRECIATION |
Charge for period |
At 31 December 2019 |
NET BOOK VALUE |
At 31 December 2019 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
VAT debtor | 8,167 |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to group undertakings |
Accruals and deferred income |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
£ |
Within one year |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 | 100 |
Everflow Tech Limited (Registered number: 11497867) |
Notes to the Financial Statements - continued |
for the Period 2 August 2018 to 31 December 2019 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | OTHER FINANCIAL COMMITMENTS |
There is a cross guarantee in place in relation to the Perwyn Advisors UK Limited loan held in Everflow |
Holdings Limited. The cross guarantee is between Everflow Holdings Limited, Everflow Limited, Everflow |
Operations Limited and Everflow Tech Limited. The loan is secured with a fixed and floating charge over the |
assets of the company. At the year end the loan balance outstanding was £2,852,326. |
12. | ULTIMATE PARENT PARTY |
The ultimate parent company is Everflow Holdings Limited. The parent company registered office is Unit 4 Suite |
2, Wynyard Avenue, Billingham, TS22 5TB. |