Educational Facilities Mgt P'ship Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02502450 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

EDUCATIONAL FACILITIES MANAGEMENT

PARTNERSHIP LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

S B Clyne

M B Matza

SECRETARY:

M B Matza

REGISTERED OFFICE:

c/o Thorne Lancaster Parker

4th Floor, Venture House

27/29 Glasshouse Street

London

W1B 5DF

REGISTERED NUMBER:

02502450 (England and Wales)

ACCOUNTANTS:

Thorne Lancaster Parker

Chartered Accountants

4th Floor

Venture House

27-29 Glasshouse Street

London

W1B 5DF

FIXED ASSETS

Tangible assets

4

4,537

4,647

CURRENT ASSETS

Debtors

5

189,788

238,614

Cash at bank and in hand

25,195

25,023

214,983

263,637

CREDITORS

Amounts falling due within one year

6

169,378

219,446

NET CURRENT ASSETS

45,605

44,191

TOTAL ASSETS LESS CURRENT LIABILITIES

50,142

48,838

CAPITAL AND RESERVES

Called up share capital

8

105

105

Retained earnings

9

50,037

48,733

SHAREHOLDERS' FUNDS

50,142

48,838

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2020 and were signed on its behalf by:

M B Matza - Director

1.	STATUTORY INFORMATION

Educational Facilities Management Partnership 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.

Turnover

Turnover represents the invoice value of fees rendered excluding value added tax. All turnover is attributable to UK customers.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

Office & computer equipment

-

25% on cost

Financial instruments

Basic financial assets

Trade and other debtors, amounts owed by related undertakings, cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Basic financial assets are derecognised when (a) the contractual rights to the cash flows from the assets expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities

Trade and other creditors, directors' current accounts and accruals are initially recognised at transaction price and subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 12 (2019 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Office &

and

computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2019

23,469

137,495

160,964

Additions

-

3,452

3,452

At 31 March 2020

23,469

140,947

164,416

DEPRECIATION

At 1 April 2019

22,305

134,012

156,317

Charge for year

750

2,812

3,562

At 31 March 2020

23,055

136,824

159,879

NET BOOK VALUE

At 31 March 2020

414

4,123

4,537

At 31 March 2019

1,164

3,483

4,647

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

181,177

234,097

Other debtors

8,611

4,517

189,788

238,614

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

11,065

17,636

Trade creditors

29,921

12,557

Amounts owed to related undertakings

-

43,723

Corporation tax

348

1,742

Social security and other taxes

38,254

39,588

Other creditors

1,291

744

Accruals and deferred income

88,499

103,456

169,378

219,446

7.	FINANCIAL INSTRUMENTS

The Company has the following financial instruments:

Financial assets that are debt instruments measured at

amortised cost

Notes

2019

2018

£

£

Cash and cash equivalents

25,023

9,542

Trade debtors

7

234,097

269,112

Other debtors

7

4,517

4,517

236,637

283,171

Financial liabilities measured at amortised cost

Bank loans and overdrafts

8

17,636

12,702

Trade creditors

8

12,557

7,602

Taxation and social security

8

39,588

49,361

Other creditors

8

744

-

Accruals and deferred income

8

103,456

110,185

173,981

179,850

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

105

Ordinary

1

105

105

9.

RESERVES

Retained

earnings

£

At 1 April 2019

48,733

Profit for the year

1,304

At 31 March 2020

50,037

10.	RELATED PARTY DISCLOSURES

M B Matza

M B Matza is a shareholder and director of the company. During the year, M B Matza charged the company £35,873 as consultancy fees.