Entrance Access Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC484570 (Scotland)

Unaudited Financial Statements

for the Year Ended

31 August 2020

for

ENTRANCE ACCESS SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

C N Duncan

REGISTERED OFFICE:

21 Hunter Street

East Kilbride

Glasgow

G74 4LZ

REGISTERED NUMBER:

SC484570 (Scotland)

ACCOUNTANTS:

WDM Associates

Oakfield House

378 Brandon Street

Motherwell

ML1 1XA

FIXED ASSETS

Tangible assets

4

30,455

24,456

CURRENT ASSETS

Stocks

16,395

11,843

Debtors

5

160,539

94,128

Cash at bank and in hand

70,805

2,269

247,739

108,240

CREDITORS

Amounts falling due within one year

6

(166,350

)

(108,447

)

NET CURRENT ASSETS/(LIABILITIES)

81,389

(207

)

TOTAL ASSETS LESS CURRENT LIABILITIES

111,844

24,249

CREDITORS

Amounts falling due after more than one year

7

(66,769

)

(21,403

)

NET ASSETS

45,075

2,846

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

44,975

2,746

SHAREHOLDERS' FUNDS

45,075

2,846

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 February 2021 and were signed by:

C N Duncan - Director

1.	STATUTORY INFORMATION

Entrance Access Solutions Limited is a private company, limited by shares , registered in Scotland. The 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

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, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Basic financial instruments

Basic financial instruments, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

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 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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 9 (2019 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2019

43,153

Additions

16,150

At 31 August 2020

59,303

DEPRECIATION

At 1 September 2019

18,697

Charge for year

10,151

At 31 August 2020

28,848

NET BOOK VALUE

At 31 August 2020

30,455

At 31 August 2019

24,456

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 September 2019

39,673

Additions

14,816

At 31 August 2020

54,489

DEPRECIATION

At 1 September 2019

16,875

Charge for year

9,403

At 31 August 2020

26,278

NET BOOK VALUE

At 31 August 2020

28,211

At 31 August 2019

22,798

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

159,094

87,826

Other debtors

1,445

6,302

160,539

94,128

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

10,000

-

Hire purchase contracts

10,989

8,025

Trade creditors

67,624

60,565

Taxation and social security

67,327

17,051

Other creditors

10,410

22,806

166,350

108,447

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

40,000

-

Hire purchase contracts

26,769

21,403

66,769

21,403

8.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

50,000

-

Hire purchase contracts

37,758

29,428

87,758

29,428

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C N Duncan.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Entrance Access Solutions Limited for the year ended 31 August 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of Entrance Access Solutions Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Entrance Access Solutions Limited and state those matters that we have agreed to state to the director of Entrance Access Solutions Limited in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Entrance Access Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Entrance Access Solutions Limited. You consider that Entrance Access Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Entrance Access Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

WDM Associates

Oakfield House

378 Brandon Street

Motherwell

ML1 1XA

9 February 2021