Accounts Submission

EFENDI BUSINESS SOLUTIONS LIMITED - Company Information

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Company Registration Number:
08070592 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2020

Period of accounts

Start date: 01 April 2019

End date: 31 March 2020

Contents of the Financial Statements

for the Period Ended 31 March 2020


Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Profit and Loss notes - 11
Balance sheet notes - 12

Directors' Report Period Ended 31 March 2020

The directors present their report with the financial statements of the company for the period ended 31 March 2020

Principal Activities

The company now provides consultancy and management support services to smaller African enterprises, primarily in Uganda. This change of strategic focus is reflected by the company name change on 4th October 2019.

Political and charitable donations

The company did not make any charitable or political donations during the period.

Additional information

Where appropriate the company will also provide financial support to selected clients and secure its interest with debentures or shareholdings or both, but only where the company retains the right to nominate directors to the investee company board and to take an active and legally enforceable role in that company's direction.

Directors

The directors shown below have held office during the whole of the period from 01 April 2019 to 31 March 2020
Kevan Michael Keegan

The director(s) shown below were appointed to the company during the period
Brian William Henry Vincent
26 September 2019

Secretary
Kevan Michael Keegan

This report was approved by the board of directors on 31 December 2020
And Signed On Behalf Of The Board By:

Name: Kevan Michael Keegan
Status: Director

Profit and Loss Account

for the Period Ended 31 March 2020

	Notes	2020 £	2019 £
Gross Profit or (Loss)		35,000	53,600
Distribution Costs		( 40,217 )	( 53,000 )
Administrative Expenses		( 4,127 )	( 2,389 )
Operating Profit or (Loss)		( 9,344 )	( 1,789 )
Interest Receivable and Similar Income		-	0
Interest Payable and Similar Charges		( 156 )	( 0 )
Profit or (Loss) Before Tax	4	( 9,500 )	( 1,789 )
Tax on Profit		( 0 )	( 0 )
Profit or (Loss) for Period		( 9,500 )	( 1,789 )

The notes form part of these financial statements

Balance sheet

As at 31 March 2020

	Notes	2020 £	2019 £
Fixed assets
Intangible assets:	5	10,500	0
Total fixed assets:		10,500	0
Current assets
Stocks:		0	0
Debtors:	6	7,500	0
Cash at bank and in hand:		2,405	9,904
Total current assets:		9,905	9,904
Prepayments and accrued income:		0	0
Creditors: amounts falling due within one year:	7	( 13,248 )	( 13,247 )
Net current assets (liabilities):		( 3,343 )	( 3,343 )
Total assets less current liabilities:		7,157	( 3,343 )
Creditors: amounts falling due after more than one year:	8	( 20,000 )
Total net assets (liabilities):		( 12,843 )	( 3,343 )

The notes form part of these financial statements

Balance sheet continued

As at 31 March 2020

	2020 £	2019 £
Capital and reserves
Called up share capital:	10	10
Profit and loss account:	( 12,853 )	( 3,353 )
Shareholders funds:	( 12,843 )	( 3,343 )

For the year ending 31 March 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 31 December 2020
And Signed On Behalf Of The Board By:

Name: Kevan Michael Keegan
Status: Director

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 March 2020

1. Accounting policies

Basis of measurement and preparation

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Other accounting policies

Going Concern: The directors consider it appropriate to prepare the financial statements on a going concern basis, despite the technical insolvency of the company. This is due to the continued support of the directors and shareholders, who control the company's only creditors and to whom the company owes substantially more than the company's net balance sheet deficit.

Notes to the Financial Statements

for the Period Ended 31 March 2020

2. Employees

	2020	2019
Average number of employees during the period	0	0

The company has no employees, and does not pay directors' fees.

Notes to the Financial Statements

for the Period Ended 31 March 2020

3. Off balance sheet disclosure

No

Notes to the Financial Statements

for the Period Ended 31 March 2020

4.Profit or (Loss) before tax

Revenues relate to one-off income from discontinued activities. Distribution costs are all third party consultancy expenses arising almost exclusively from discontinued activities.

In the financial year significant travel and accommodation expense was incurred as both directors spent time in Uganda identifying and performing due diligence investigation of prospective clients. Regular trips to Africa are planned for at least one director to maintain contact with clients and to further develop the business.

Bank charges now include fees for non-sterling transactions using the company's Visa Debit card, in addition to the monthly fee charged by HSBC for the operation of the company's bank accounts.

Notes to the Financial Statements

for the Period Ended 31 March 2020

5. Intangible assets

	Total
Cost	£
At 01 April 2019	0
Additions	10,500
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2020	10,500
Amortisation
Charge for year	-
On disposals	-
Other adjustments	-
Amortisation at 31 March 2020	-
Net book value
Net book value at 31 March 2020	10,500
Net book value at 31 March 2019	0

On 29th January 2020 the company invested £10,500 (50 million Uganda Shillings) acquiring 50% of the shares in a fish breeding business in Eastern Uganda, with the right to appoint 3 of the six permitted directors and to hold the Chairmanship.

Additionally the company refinanced all the debts owing to third parties registering a Debenture for UGX 35 million (£7,500) over the entire assets of the client.

Notes to the Financial Statements

for the Period Ended 31 March 2020

6. Debtors

	2020 £	2019 £
Debtors due after more than one year:	7,000

This Debenture loan requires capital repayment over three years, and is secured on all the assets of the client. Subsequent to year end, and as a result of the impact of the global pandemic freezing all economic activities and severely curtailing the operations of the client, the company agreed to suspend repayments of capital and interest until the client's economic prospects improve.

Notes to the Financial Statements

for the Period Ended 31 March 2020

7. Creditors: amounts falling due within one year note

The company's only creditors are parties controlled by the shareholders, or the shareholders themselves.

Notes to the Financial Statements

for the Period Ended 31 March 2020

8. Creditors: amounts falling due after more than one year note

In relaunching as a consultancy specialising in smaller African enterprises, the shareholders injected all these extra funds, so that the company can execute appropriate investments and accelerate the impact of the performance improvement services provided. Such stakes also provide geared returns on the effectiveness of the company's services, while client cash flows are rebuilt.

Director:		Kevan Michael Keegan
		Brian William Henry Vincent


Secretary:		Kevan Michael Keegan


Registered office:		8 Chacombe Place Beaconsfield GBR HP9 2WS


Company Registration Number:		08070592 (England and Wales)

Accounts Submission