Ezenze Limited - Period Ending 2021-09-30
Ezenze Limited - Period Ending 2021-09-30
Registration number:
for the Year Ended 30 September 2021
Ezenze Limited
Contents
Section |
Page |
Company Information |
|
Director's Report |
|
Statement of Income and Retained Earnings |
|
Statement of Financial Position |
|
Notes to the Financial Statements |
Ezenze Limited
Company Information
Director |
M Johansson |
Company secretary |
Goodwille Limited |
Registered office |
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Accountants |
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Ezenze Limited
Director's Report for the Year Ended 30 September 2021
The director presents his annual report on the affairs of Ezenze Limited, together with the financial statements for the year ended 30 September 2021.
Principal activity
The principal activity of the company is that of marketing and market research consultancy.
Director of the company
The director who served throughout the year and up to date of authorisation of this report was as follows:
Going concern
The director has considered financial projections for the company over the foreseeable future. After making enquiries, the director is satisfied that the company has sufficient resources to continue in operation for the foreseeable future, being at least 12 months from the date of signing the financial statements. Accordingly, he continues to adopt the going concern basis in preparing the financial statements.
Events after the financial period
There have been no significant events between the year end and the date of approval of these accounts which would require a change to, or disclosure in, the financial statements.
Small companies provision statement
The director has taken advantage of the small companies exemptions provided by sections 414B and 415A of the Companies Act 2006 from the requirement to prepare a strategic report and in preparing the director's report on the grounds that the company is entitled to prepare its accounts for the year in accordance with the small companies regime.
Approved by the director on
.........................................
M Johansson
Director
Ezenze Limited
Statement of Income and Retained Earnings
for the Year Ended 30 September 2021
Note |
2021 |
2020 |
|
Revenue |
|
- |
|
Administrative expenses |
( |
( |
|
Operating loss |
( |
( |
|
Income from investments |
- |
|
|
Profit on disposal of fixed asset Investments |
22,302 |
- |
|
Profit before tax |
|
|
|
Taxation |
- |
- |
|
Profit for the financial year |
|
|
|
Retained earnings brought forward |
291,396 |
288,396 |
|
Dividends paid |
( |
- |
|
Retained earnings carried forward |
262,250 |
291,396 |
Continuing operations
All results are derived wholly from continuing operations.
Ezenze Limited
(Registration number: 05568687)
Statement of Financial Position as at 30 September 2021
Note |
2021 |
2020 |
|
Non-current assets |
|||
Other financial assets |
144,656 |
174,223 |
|
Current assets |
|||
Receivables |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Payables: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Net assets |
|
|
|
Equity |
|||
Called up share capital |
|
|
|
Retained earnings |
|
|
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Total equity |
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For the financial year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
These financial statements were approved and authorised for issue by the director on
.........................................
M Johansson
Director
Ezenze Limited
Notes to the Financial Statements
for the Year Ended 30 September 2021
General information |
Ezenze Limited ('the company') is a private company limited by share capital incorporated in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the director's report on page 2.
Accounting policies |
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.
Going concern
The director has considered financial projections for the company over the foreseeable future. After making enquiries, the director is satisfied that the company has sufficient resources to continue in operation for the foreseeable future, being at least 12 months from the date of signing the financial
statements. Accordingly, he continues to adopt the going concern basis in preparing the financial statements.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and in accordance with the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).
Exemption from preparing a cash flow statement
The company qualifies as a small entity and in consequence has taken advantage of paragraph 7.1B of FRS 102 not to present a statement of cash flows.
Revenue recognition
Revenue comprises the value of services supplied and rechargeable expenses, net of value added tax.
Ezenze Limited
Notes to the Financial Statements
for the Year Ended 30 September 2021 (continued)
2 |
Accounting policies (continued) |
Foreign currency transactions and balances
Taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in the income statement, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Current tax, including UK corporation tax and foreign tax, is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the year end.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the statement of financial position date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Property, plant and equipment
Property, plant and equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
Straight line basis over 3 years |
Other financial assets
Non-current financial assets are stated at historical cost less provision for any diminution in value.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and at bank and are subject to an insignificant risk
of change in value.
Ezenze Limited
Notes to the Financial Statements
for the Year Ended 30 September 2021 (continued)
2 |
Accounting policies (continued) |
Receivables
Receivables are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of receivables is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Payables
Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Financial instruments
Revenue |
In the opinion of the directors, the company's revenue, profit before taxation and net assets are attributable to the company's one principal business in the United Kingdom only and not attributable to classes of business or geographical segments which differ substantially from each other. Consequently, no segmental information has been presented. Turnover derive wholly from the provision of services.
Staff numbers |
The average number of persons employed by the company during the year, was
Ezenze Limited
Notes to the Financial Statements
for the Year Ended 30 September 2021 (continued)
Director's remuneration |
No remuneration was paid to the director during the year (2020: £nil).
Taxation |
Tax charged/(credited) in the income statement
2021 |
2020 |
|
Current taxation |
||
- |
- |
The standard rate of UK corporation tax applied to the reported profit before tax for the year is
The difference between the total tax charge shown above and the amount calculated by applying the standard rate of UK corporation tax to the profit before tax is as follows:
2021 |
2020 |
|
Profit before tax |
|
|
Corporation tax at standard rate |
|
|
Effect of revenues exempt from taxation |
- |
( |
Effect of tax losses |
( |
|
Tax increase (decrease) from effect of indexation allowance on capital gains |
( |
- |
Total tax charge |
- |
- |
Ezenze Limited
Notes to the Financial Statements
for the Year Ended 30 September 2021 (continued)
Property, plant and equipment |
Office equipment |
|
Cost |
|
At 1 October 2020 and at 30 September 2021 |
|
Depreciation |
|
At 1 October 2020 and at 30 September 2021 |
|
Carrying amount |
|
At 30 September 2021 |
- |
At 30 September 2020 |
- |
Other financial assets |
2021 |
2020 |
|
Non-current financial assets |
||
Unlisted investment at cost |
|
|
Receivables |
2021 |
2020 |
|
Amounts owed to associated undertakings |
|
|
Other receivables |
|
|
Prepayments |
|
|
Corporation tax repayable |
730 |
730 |
115,857 |
115,857 |
Cash and cash equivalents |
2021 |
2020 |
|
Cash at bank |
|
|
Ezenze Limited
Notes to the Financial Statements
for the Year Ended 30 September 2021 (continued)
Payables |
2021 |
2020 |
|
Due within one year |
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Social security and other taxes |
|
|
Accrued expenses |
|
|
|
|
Share capital and reserves |
Allotted, called up and fully paid shares
2021 |
2020 |
|||
No. |
£ |
No. |
£ |
|
|
|
2 |
|
2 |
The company has one class of share capital which carries no right to fixed income.
Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.
Related party transactions |
During the year the director paid for business expenses of £2,955 (2020: £Nil) on behalf of the company.
Other related party transactions
Ezenze Limited and Ezenze AB are under common control. As at 30 September 2021 Ezenze AB owed the company the sum £115,000 (2020: £115,000). This loan is unsecured, interest free and has no fixed repayment date.
Control |
The company is controlled by the director who owns 100% of the called up share capital.
Ezenze Limited
Notes to the Financial Statements
for the Year Ended 30 September 2021 (continued)
Events after the financial period |
There have been no significant events between the year end and the date of approval of these accounts which would require a change to, or disclosure in, the financial statements.
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