Education Essentials Limited - Limited company - abbreviated - 11.6

Education Essentials Limited - Limited company - abbreviated - 11.6

EDUCATION ESSENTIALS LTD - Company Information

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REGISTERED NUMBER: 03893770 (England and Wales)















ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

EDUCATION ESSENTIALS LIMITED

EDUCATION ESSENTIALS LIMITED (REGISTERED NUMBER: 03893770)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

EDUCATION ESSENTIALS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2014







DIRECTOR: J R Bennett





SECRETARY: L M Jones





REGISTERED OFFICE: Building 2
Aston Down
Minchinhampton Road
Stroud
Gloucestershire
GL6 8GA





REGISTERED NUMBER: 03893770 (England and Wales)





ACCOUNTANTS: Shiner Mitchell Fisher & Co Ltd
Smith House
George Street
Nailsworth
Stroud
Gloucestershire
GL6 0AG
Page 1
EDUCATION ESSENTIALS LIMITED (REGISTERED NUMBER: 03893770)

ABBREVIATED BALANCE SHEET
31 DECEMBER 2014

31.12.14 31.12.13
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 14,190 4,763

CURRENT ASSETS
Stocks 570,712 433,229
Debtors 277,376 200,426
Cash at bank and in hand 59,463 97,695
907,551 731,350
CREDITORS
Amounts falling due within one year 3 611,464 463,257
NET CURRENT ASSETS 296,087 268,093
TOTAL ASSETS LESS CURRENT
LIABILITIES
310,277
272,856

CAPITAL AND RESERVES
Called up share capital 4 985 985
Profit and loss account 309,292 271,871
SHAREHOLDERS' FUNDS 310,277 272,856

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the director on 16 June 2015 and were signed by:





J R Bennett - Director


The notes form part of these abbreviated accounts

Page 2
EDUCATION ESSENTIALS LIMITED (REGISTERED NUMBER: 03893770)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2014 23,743
Additions 20,514
At 31 December 2014 44,257
DEPRECIATION
At 1 January 2014 18,980
Charge for year 11,087
At 31 December 2014 30,067
NET BOOK VALUE
At 31 December 2014 14,190
At 31 December 2013 4,763

3. CREDITORS

Creditors include an amount of £ 125,024 (31.12.13 - £ 45,461 ) for which security has been given.

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.14 31.12.13
value: £    £   
985 Ordinary £1 985 985

Page 3 continued...
EDUCATION ESSENTIALS LIMITED (REGISTERED NUMBER: 03893770)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2014

5. RELATED PARTY DISCLOSURES

During the year the director made an unsecured loan to the company. At 31st December 2014 the balance owing to
the director was £103,411 (2013 - £138,056).

During the year the company made an unsecured interest free loan to Alyss Toys Limited, a company with a
common director and shareholder. The balance owed to Education Essentials Limited at 31st December 2014 was
£31,007 (2013 - £41,007).

6. ULTIMATE CONTROLLING PARTY

The company was controlled throughout the year by its director who owns 89% of the issued share capital.

7. PREFERENTIAL LOAN

Included in other creditors is a £90,000 (2013 - £100,000) loan from a potential investor.This loan is only to be
repaid when the company is able to do so without prejudice to other creditors. Any repayments of this loan will be
made in preference to any repayments of the directors loan.

Page 4