Eco-Airvent Limited - Accounts to registrar (filleted) - small 22.3
Eco-Airvent Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2022 |
| FOR |
| ECO-AIRVENT LIMITED |
| ECO-AIRVENT LIMITED (REGISTERED NUMBER: 07624658) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 May 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| ECO-AIRVENT LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 May 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Magma House |
| 16 Davy Court |
| Castle Mound Way |
| Rugby |
| CV23 0UZ |
| ECO-AIRVENT LIMITED (REGISTERED NUMBER: 07624658) |
| BALANCE SHEET |
| 31 May 2022 |
| 2022 | 2021 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| ECO-AIRVENT LIMITED (REGISTERED NUMBER: 07624658) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 May 2022 |
| 1. | STATUTORY INFORMATION |
| Eco-Airvent Limited is a private company limited by share capital, incorporated in England and Wales, registration number 07624658. The address of the registered office is Suite 1, 3rd Floor, 11-12 St. James's Square, London. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The presentational currency of the financial statements is the Pound Sterling (£) and amounts are rounded to the nearest £1 |
| Going concern |
| At the Balance Sheet date the company had net liabilities of £11,942. |
| The directors have agreed to continue to support the company for the next twelve months , the accounts have therefore been prepared under the going concern basis. |
| Turnover |
| Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: |
| Rendering of services |
| Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
| - the amount of revenue can be measured reliably; |
| - it is probable that the Company will receive the consideration due under the contract; |
| - the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
| - the costs incurred and the costs to complete the contract can be measured reliably. |
| Tangible fixed assets |
| Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
| Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below. |
| Depreciation is provided on the following basis: |
| Plant and machinery | - 50% straight line and 33.33% straight line |
| Computer equipment | - 50% straight line and 33.33% straight line |
| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. |
| Stocks |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. |
| At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recogised immediately in profit or loss. |
| ECO-AIRVENT LIMITED (REGISTERED NUMBER: 07624658) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 May 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| (i) Financial assets |
| Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes as financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
| Such assets are subsequently carried at amortised cost using the effective interest rate method. |
| (ii) Financial liabilities |
| Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. |
| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
| Taxation |
| The tax expense for the year comprises current and deferred tax. |
| Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. |
| Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that: |
| - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and |
| - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. |
| Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| Share capital |
| Ordinary Shares are classified as equity |
| Interim dividends |
| Interim dividends are accounted for when paid. |
| Leases |
| Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the 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 |
| ECO-AIRVENT LIMITED (REGISTERED NUMBER: 07624658) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 May 2022 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Computer |
| machinery | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 June 2021 |
| and 31 May 2022 |
| DEPRECIATION |
| At 1 June 2021 |
| Charge for year |
| At 31 May 2022 |
| NET BOOK VALUE |
| At 31 May 2022 |
| At 31 May 2021 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| VAT |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| VAT | 40 | - |
| Other creditors |
| Directors' current accounts | 20,656 | 1,144 |
| Accrued expenses |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2022 | 2021 |
| £ | £ |
| Within one year |
| Between one and five years |