20/20 Mailing Equipment Ltd,Ltd - AccountsLtd - Accounts

20/20 Mailing Equipment Ltd,Ltd - AccountsLtd - Accounts

20/20 MAILING EQUIPMENT LTD - Company Information

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2019-11-01 07810014 2020-10-31 07810014 2019-11-01 2020-10-31 07810014 2019-10-31 07810014 2018-11-01 2019-10-31 07810014 uk-core:WithinOneYear 2019-10-31 07810014 uk-core:WithinOneYear 2020-10-31 07810014 uk-core:AfterOneYear 2019-10-31 07810014 uk-core:AfterOneYear 2020-10-31 07810014 uk-core:ShareCapital 2020-10-31 07810014 uk-core:ShareCapital 2019-10-31 07810014 uk-core:RetainedEarningsAccumulatedLosses 2020-10-31 07810014 uk-core:RetainedEarningsAccumulatedLosses 2019-10-31 07810014 uk-bus:Director1 2019-11-01 2020-10-31 07810014 uk-core:AfterOneYear uk-core:Secured 2020-10-31 07810014 uk-core:AfterOneYear uk-core:Secured 2019-10-31 iso4217:GBP xbrli:pure 07810014 uk-bus:AuditExemptWithAccountantsReport 2019-11-01 2020-10-31 07810014 uk-bus:FRS102 2019-11-01 2020-10-31 07810014 uk-bus:FullAccounts 2019-11-01 2020-10-31 07810014 uk-bus:PrivateLimitedCompanyLtd 2019-11-01 2020-10-31
20/20 Mailing Equipment Ltd
Registered Number:07810014
For the year ended 31 October 2020
England and Wales
Unaudited Financial Statements
2
For the year ended 31 October 2020
20/20 Mailing Equipment Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
07810014
As at 31 October 2020
20/20 Mailing Equipment Ltd
Statement of Financial Position
£
£
2019
2020
Notes
Current assets
Inventories
15,000
8,000
2
Trade and other receivables
3,087
520
3
2,243
Cash and cash equivalents
10,144
18,664
20,330
Trade and other payables: amounts falling due within one
year
(22,843)
(19,857)
4
(2,513)
(1,193)
Net current liabilities
Total assets less current liabilities
(1,193)
(2,513)
Trade and other payables: amounts falling due after more
than one year
-
(12,000)
5
(13,193)
Net liabilities
(2,513)
Capital and reserves
Called up share capital
1
1
Retained earnings
(13,194)
(2,514)
(13,193)
(2,513)
Shareholders' funds
For the year ended 31 October 2020 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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 Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Michael Sidney Williams Director
These financial statements were approved and authorised for issue by the Board on 29 July 2021 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 October 2020
20/20 Mailing Equipment Ltd
Notes to the Financial Statements
Statutory Information
20/20 Mailing Equipment Ltd is a private limited company, limited by shares, domiciled in England and Wales,
registration number 07810014.
Registered address:
Unit L Orchard Bus. Ctr. St Barnabas Close
20/20 Business Park
Allington
Kent
ME16 0JZ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration of franking machine services, excluding VAT.
Inventories
Inventories are valued at the lower of cost and net realisable value.
Post balance sheet events and going concern
Up to and after the balance sheet date we have seen global uncertainty becuase of COVID-19 (coronavirus
pandemic). The business has faced challenges due to work demand decreasing due to businesses closing over the
lockdown periods. The company secured a bounce back loan which enabled overheads to be covered and the
company was able to continue trading. As a result, the Director deems that it is appropriate for the accounts to be
prepared on a going concern basis as the company has continued to operate and profitability improved.
2. Inventories
2019
2020
£
£
Stocks
8,000
15,000
3. Trade and other receivables
2019
2020
£
£
Trade debtors
414
2,980
Other debtors
106
107
3,087
520
2 of 3
5
For the year ended 31 October 2020
20/20 Mailing Equipment Ltd
Notes to the Financial Statements Continued
4. Trade and other payables: amounts falling due within one year
2019
2020
£
£
Trade creditors
-
213
Taxation and social security
5,775
4,220
Other creditors
14,082
18,410
19,857
22,843
5. Trade and other payables: amounts falling due after more than one year
2019
2020
£
£
Bank loans and overdraft
12,000
-
6. Average number of persons employed
During the year the average number of employees was 2 (2019 : 2)
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