Ejetset Consulting Limited Filleted accounts for Companies House (small and micro)

Ejetset Consulting Limited Filleted accounts for Companies House (small and micro)

EJETSET CONSULTING LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08337890
EJETSET CONSULTING LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 May 2020
EJETSET CONSULTING LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2020
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 4
EJETSET CONSULTING LIMITED
BALANCE SHEET
31 May 2020
2020
2019
Note
£
£
Fixed assets
Tangible assets
5
1,393
1
Current assets
Debtors
6
3,793
7,975
Cash at bank and in hand
22,123
52,689
------------
------------
25,916
60,664
Creditors: amounts falling due within one year
7
( 15,304)
( 23,703)
------------
------------
Net current assets
10,612
36,961
------------
------------
Total assets less current liabilities
12,005
36,962
------------
------------
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
11,905
36,862
------------
------------
Shareholders funds
12,005
36,962
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 May 2020 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 financial statements were approved by the board of directors and authorised for issue on 4 January 2021 , and are signed on behalf of the board by:
Mrs A C Maclean
B Raphael
Director
Director
Company registration number: 08337890
EJETSET CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2020
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 18 Clewborough Drive, Camberley, Surrey, GU15 1NX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
-
15% reducing balance
Computer equipment
-
33% straight line
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2019: 1 ).
5. Tangible assets
Office equipment
Computer equipment
Total
£
£
£
Cost
At 1 June 2019
–
2,525
2,525
Additions
379
1,605
1,984
------------
------------
------------
At 31 May 2020
379
4,130
4,509
------------
------------
------------
Depreciation
At 1 June 2019
–
2,524
2,524
Charge for the year
57
535
592
------------
------------
------------
At 31 May 2020
57
3,059
3,116
------------
------------
------------
Carrying amount
At 31 May 2020
322
1,071
1,393
------------
------------
------------
At 31 May 2019
–
1
1
------------
------------
------------
6. Debtors
2020
2019
£
£
Trade debtors
2,429
7,975
Directors loan account
1,364
–
------------
------------
3,793
7,975
------------
------------
7. Creditors: amounts falling due within one year
2020
2019
£
£
Corporation tax
9,301
18,386
Social security and other taxes
6,003
5,315
Director loan accounts
–
2
------------
------------
15,304
23,703
------------
------------
8. Called up share capital
Issued, called up and fully paid
2020
2019
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
------------
------------
------------
------------
9. Directors' advances, credits and guarantees
Included in debtors is a loan to the director, amounting to : £ Amount outstanding at end of the year 1,364 Amount outstanding at beginning of the year (2) Maximum outstanding during the year 1,364 The loan will be repaid in full within nine months of the company's year end.
10. Related party transactions
The company is controlled by the director.