ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

ERO SOLUTIONS LIMITED - Company Information

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Caseware UK (AP4) 2019.0.227 2019.0.227 2020-12-312020-12-312021-05-19falsetruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2020-01-01No description of principal activity11 07567576 2020-01-01 2020-12-31 07567576 2019-01-01 2019-12-31 07567576 2020-12-31 07567576 2019-12-31 07567576 c:Director1 2020-01-01 2020-12-31 07567576 d:CurrentFinancialInstruments 2020-12-31 07567576 d:CurrentFinancialInstruments 2019-12-31 07567576 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 07567576 d:CurrentFinancialInstruments d:WithinOneYear 2019-12-31 07567576 d:ShareCapital 2020-12-31 07567576 d:ShareCapital 2019-12-31 07567576 d:RetainedEarningsAccumulatedLosses 2020-12-31 07567576 d:RetainedEarningsAccumulatedLosses 2019-12-31 07567576 c:FRS102 2020-01-01 2020-12-31 07567576 c:AuditExempt-NoAccountantsReport 2020-01-01 2020-12-31 07567576 c:FullAccounts 2020-01-01 2020-12-31 07567576 c:PrivateLimitedCompanyLtd 2020-01-01 2020-12-31 07567576 d:Subsidiary1 2020-01-01 2020-12-31 07567576 d:Subsidiary1 1 2020-01-01 2020-12-31 07567576 2 2020-01-01 2020-12-31 07567576 6 2020-01-01 2020-12-31 iso4217:GBP xbrli:pure

Registered number: 07567576









ERO SOLUTIONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2020
 
ERO SOLUTIONS LIMITED
REGISTERED NUMBER: 07567576

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2020

2020
2019
Note
£
£

Fixed assets
  

Investments
 4 
1
1

  
1
1

Current assets
  

Current assets
  
1,437,301
1,258,406

  
1,437,301
1,258,406

Creditors: amounts falling due within one year
 6 
(3,001)
(3,001)

Net current assets
  
 
 
1,434,300
 
 
1,255,405

Total assets less current liabilities
  
1,434,301
1,255,406

  

Net assets
  
1,434,301
1,255,406


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,434,201
1,255,306

  
1,434,301
1,255,406


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 May 2021.





Page 1
 
ERO SOLUTIONS LIMITED
REGISTERED NUMBER: 07567576
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2020




Mr D Jaffe
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2
 
ERO SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

1.


General information

ERO Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 07567576.  The registered office is 54 Hendon Lane, London, N3 1TT.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

Existing forecasts and projections indicate that the company has adequate resources to continue with some level of activity from a minimal to full levels. Although the potential effect of the coronavirus can be modelled, it is very difficult to determine the assumptions that will prove to be most appropriate and therefore there is an element of doubt existing that cannot be quantified.

After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements, but with the proviso that a material uncertainty exists over the company’s future.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short term creditors are measured at the transaction price.

Page 3
 
ERO SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

2.Accounting policies (continued)

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

  
2.9

Other operating income

Other operating income predominantly represents partnership income from Jaffe & Co LLP.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2019 - 1).

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ERO SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2020
1



At 31 December 2020
1




The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Jaffe UK Services Ltd
54 Hendon lane, London, N3 1TT
Ordinary
100%


5.


Debtors

2020
2019
£
£


Trade debtors
283,626
305,973

Other debtors
447,540
45,974

731,166
351,947



6.


Creditors: Amounts falling due within one year

2020
2019
£
£

Other creditors
1
1

Accruals and deferred income
3,000
3,000

3,001
3,001



7.


Related party transactions

At the balance sheet date, the aggregate amount owed to Jaffe UK Services Ltd, a subsidiary to ERO Solutions Limited, amounted to £1 (2019 - £1).

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