EGC Management Limited - Accounts to registrar (filleted) - small 18.2

EGC Management Limited - Accounts to registrar (filleted) - small 18.2

EGC MANAGEMENT LTD - Company Information

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REGISTERED NUMBER: 09048183 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 May 2021

for

EGC Management Limited
EGC Management Limited (Registered number: 09048183)






Contents of the Financial Statements
for the year ended 31 May 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


EGC Management Limited

Company Information
for the year ended 31 May 2021







DIRECTORS: Mr E G Calnan
Mrs T Calnan





REGISTERED OFFICE: 8 Poppy Leys
Brixworth
Northamptonshire
NN6 9UL





REGISTERED NUMBER: 09048183 (England and Wales)





ACCOUNTANTS: Clifford Roberts
Chartered Accountants
Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL
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EGC Management Limited (Registered number: 09048183)

Balance Sheet
31 May 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 953 2,087

CURRENT ASSETS
Debtors 5 18,600 14,039
Cash at bank 214,861 156,396
233,461 170,435
CREDITORS
Amounts falling due within one year 6 95,162 27,554
NET CURRENT ASSETS 138,299 142,881
TOTAL ASSETS LESS CURRENT
LIABILITIES
139,252
144,968

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 139,152 144,868
SHAREHOLDERS' FUNDS 139,252 144,968

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 January 2022 and were signed on its behalf by:





Mr E G Calnan - Director


The notes form part of these financial statements

2
EGC Management Limited (Registered number: 09048183)

Notes to the Financial Statements
for the year ended 31 May 2021

1. STATUTORY INFORMATION

EGC Management Limited is a private company, limited by shares , registered in England and Wales. 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 applicable United Kingdom accounting standards, including Financial Reporting Standard 102 section 1A - "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102 section 1A") and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis.

The financial statements cover the period to 31st May each year.

Turnover
Turnover represents net invoiced sales from the rendering of services is recognised by reference to a time cost basis, excluding value added tax and other transaction costs.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Government grants
Government grants relating to revenue have been recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants, which became receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity, with no future related costs, shall be recognised in income in the period in which it becomes receivable.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3
EGC Management Limited (Registered number: 09048183)

Notes to the Financial Statements - continued
for the year ended 31 May 2021

2. ACCOUNTING POLICIES - continued

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 June 2020
and 31 May 2021 4,537
DEPRECIATION
At 1 June 2020 2,450
Charge for year 1,134
At 31 May 2021 3,584
NET BOOK VALUE
At 31 May 2021 953
At 31 May 2020 2,087

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 18,600 12,601
Other debtors - 1,438
18,600 14,039

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Taxation and social security 26,319 26,101
Other creditors 68,843 1,453
95,162 27,554

4
EGC Management Limited (Registered number: 09048183)

Notes to the Financial Statements - continued
for the year ended 31 May 2021

7. FINANCIAL RISK MANAGEMENT

The company has some exposure to credit, liquidity and cash flow interest rate risks, These risks are limited by the company's financial management policies and practices described below.

Foreign currency risk
The company has no exposure to foreign currency risks as all of the company's sales and purchases are denominated in sterling.

Credit risk
The company's exposure and it's customers credit worthiness is continually monitored so that any potential problems are detected at an early stage.

Liquidity risk
The directors have ultimate responsibility for liquidity risk management in maintaining adequate reserves and banking facilities. There are no significant non-derivative financial liability remaining at the reporting date.

Market risk
There is a market risk associated with the fluctuation in demand for the services provided which is inextricable linked to the performance of the UK economy on a wider scale. The company tries to insulate itself against this risk by trading with entities in which a wider economic slowdown will not impact to the same extent.

The company holds no derivative financial instruments at the year end.

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
100 Ordinary £1 100 100

9. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed the persons with significant control £67,848 (2020 - £380). There is no interest accruing and no fixed term for repayment.

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