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

REGISTERED NUMBER: 03917760 (England and Wales)

Financial Statements for the Year Ended 31 December 2019

for

ECONVEY LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs L Czul

REGISTERED OFFICE:

Meadow View

Spirthill

CALNE

Wiltshire

SN11 9HP

REGISTERED NUMBER:

03917760 (England and Wales)

ACCOUNTANTS:

Blomfields

The Courtyard

33 Duke Street

Trowbridge

Wiltshire

BA14 8EA

FIXED ASSETS

Investment property

4

470,000

470,000

CURRENT ASSETS

Cash at bank

2,836

4,576

CREDITORS

Amounts falling due within one year

5

89,286

79,144

NET CURRENT LIABILITIES

(86,450

)

(74,568

)

TOTAL ASSETS LESS CURRENT LIABILITIES

383,550

395,432

CREDITORS

Amounts falling due after more than one year

6

371,591

371,591

NET ASSETS

11,959

23,841

CAPITAL AND RESERVES

Called up share capital

2

2

Non distributable reserve

7

30,000

30,000

Retained earnings

(18,043

)

(6,161

)

SHAREHOLDERS' FUNDS

11,959

23,841

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 her 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 October 2020 and were signed by:

Mrs L Czul - Director

1.	STATUTORY INFORMATION

Econvey 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 is measured at the fair value of the consideration received or receivable to 31 December 2019 net of VAT. The company recognises revenue from property rental when:

- the amount of revenue can be reliably measured;

- it is probable that the future economic benefits will flow to the company;

- and specific criteria have been met for each of the companies activities.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	INVESTMENT PROPERTY

Total

£

COST

At 1 January 2019

and 31 December 2019

470,000

NET BOOK VALUE

At 31 December 2019

470,000

At 31 December 2018

470,000

Investment properties were subject to valuation on May 2018 by director Mrs L Czul. The methods and significant assumptions used to ascertain the fair value of investment property totalling £470,000 are comparable sales from information found online, and from other local agents and valuers was used.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other creditors

89,286

79,144

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

371,591

371,591

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

371,591

371,591

7.

RESERVES

Non

distributable

reserve

£

At 1 January 2019

and 31 December 2019

30,000