Easee UK Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC624904 (Scotland)

EASEE UK LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J Helmikstoel

Mr A O'Donnell

REGISTERED OFFICE:

Trinity House

31 Lynedoch Street

Glasgow

G3 6EF

BUSINESS ADDRESS:

4th Floor

106 Hope Street

Glasgow

G2 6PH

REGISTERED NUMBER:

SC624904 (Scotland)

ACCOUNTANTS:

Nicolson Accountancy

Trinity House

31 Lynedoch Street

Glasgow

G3 6EF

FIXED ASSETS

Tangible assets

4

4,679

-

CURRENT ASSETS

Stocks

262,993

5,747

Debtors

5

707,043

13,182

Cash at bank

103,687

63,982

1,073,723

82,911

CREDITORS

Amounts falling due within one year

6

168,379

36,654

NET CURRENT ASSETS

905,344

46,257

TOTAL ASSETS LESS CURRENT LIABILITIES

910,023

46,257

CREDITORS

Amounts falling due after more than one year

7

864,812

94,900

NET ASSETS/(LIABILITIES)

45,211

(48,643

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

8

45,111

(48,743

)

SHAREHOLDERS' FUNDS

45,211

(48,643

)

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 27 May 2021 and were signed on its behalf by:

Mr A O'Donnell - Director

1.	STATUTORY INFORMATION

Easee UK Ltd 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.

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.

The financial statement have been prepared on the going concern basis as the parent company has indicated it's intention to provide financial support for the company until it becomes profitable.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions as a wholly owned subsidiary.

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.

Fixtures and fittings

-

25% on cost

Stocks

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

Hire purchase and leasing commitments

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

Additions

6,238

At 31 December 2020

6,238

DEPRECIATION

Charge for year

1,559

At 31 December 2020

1,559

NET BOOK VALUE

At 31 December 2020

4,679

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

702,635

7,933

Other debtors

4,408

5,249

707,043

13,182

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

152,550

2,218

Taxation and social security

11,756

12,369

Other creditors

4,073

22,067

168,379

36,654

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Amounts owed to group undertakings

864,812

94,900

8.

RESERVES

Retained

earnings

£

At 1 January 2020

(48,743

)

Profit for the year

93,854

At 31 December 2020

45,111

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Easee AS, a company registered in Norway.

Consolidated accounts are prepared by Easee AS, Professor Olav Hanssens vei 7A, Stavanger, Norway.