E A Design Solutions Ltd - Accounts to registrar (filleted) - small 18.2

E A DESIGN SOLUTIONS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MARCH 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Accountants' Report

8

DIRECTORS:

C W Gibson

L D Wilson

SECRETARY:

Mrs D L Gibson

REGISTERED OFFICE:

Unit 24

106a Bedford Road

Wootton

Bedfordshire

MK43 9JB

REGISTERED NUMBER:

05728406 (England and Wales)

ACCOUNTANTS:

Haines Watts

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

FIXED ASSETS

Tangible assets

4

10,134

12,015

CURRENT ASSETS

Debtors

5

7,072

16,823

Cash at bank

55,845

54,225

62,917

71,048

CREDITORS

Amounts falling due within one year

6

20,940

15,120

NET CURRENT ASSETS

41,977

55,928

TOTAL ASSETS LESS CURRENT LIABILITIES

52,111

67,943

CREDITORS

Amounts falling due after more than one year

7

(32,454

)

(9,080

)

PROVISIONS FOR LIABILITIES

(248

)

(291

)

NET ASSETS

19,409

58,572

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

19,309

58,472

SHAREHOLDERS' FUNDS

19,409

58,572

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5th July 2021 and were signed on its behalf by:

C W Gibson - Director

1.	STATUTORY INFORMATION

E A Design Solutions Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

20% on reducing balance

Computer & office equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Going concern

In preparing the financial statements, the directors have considered the current financial position of the company and its likely future cash flows.

The directors have assessed the risks facing the business from Covid-19 and implemented measures to address these risks, including obtaining government backed financial assistance.

Although the situation continues to remain uncertain, in the directors' opinion, the ongoing challenges presented by Covid-19 will not adversely affect the ability of the company to continue trading for the foreseeable future.

At the date of approving these financial statements the directors are satisfied that the company will have adequate resources to continue operations for the foreseeable future.

Accordingly, they continues to adopt the going concern basis in the preparation of the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Computer

and

& office

fittings

equipment

Totals

£

£

£

COST

At 1st April 2020

3,401

21,746

25,147

Additions

-

112

112

At 31st March 2021

3,401

21,858

25,259

DEPRECIATION

At 1st April 2020

1,869

11,263

13,132

Charge for year

307

1,686

1,993

At 31st March 2021

2,176

12,949

15,125

NET BOOK VALUE

At 31st March 2021

1,225

8,909

10,134

At 31st March 2020

1,532

10,483

12,015

The net book value of tangible fixed assets includes £ 8,828 (2020 - £ 10,483 ) in respect of assets held under finance leases.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/21

31/3/20

£

£

Trade debtors

3,600

3,060

Amounts recoverable on contract

-

13,300

Taxation

2,487

-

VAT

-

86

Prepayments

985

377

7,072

16,823

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/21

31/3/20

£

£

Finance leases

1,626

1,555

Trade creditors

10,474

6,933

Corporation tax

-

2,975

Social security and other taxes

2,499

2,832

VAT

3,615

-

Directors' current accounts

71

71

Accrued expenses

2,655

754

20,940

15,120

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/21

31/3/20

£

£

Bank loans

25,000

-

Finance leases

7,454

9,080

32,454

9,080

8.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/21

31/3/20

£

£

Bank loans

25,000

-

Finance leases

9,080

10,635

34,080

10,635

9.	OTHER FINANCIAL COMMITMENTS

At the balance sheet date, the Company had a minimum of other financial commitments under operating leases of £10,200 (2020 20,400).

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C W Gibson.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of E A Design Solutions Ltd for the year ended 31st March 2021 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of E A Design Solutions Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of E A Design Solutions Ltd and state those matters that we have agreed to state to the Board of Directors of E A Design Solutions Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than E A Design Solutions Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that E A Design Solutions Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of E A Design Solutions Ltd. You consider that E A Design Solutions Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of E A Design Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Haines Watts

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

6th July 2021