Expanding Technology Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07340797 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2020

FOR

EXPANDING TECHNOLOGY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

B Davies

Mrs E C Davies

Mrs Z R French

SECRETARY:

Mrs Z R French

REGISTERED OFFICE:

Millum House

Hinton Martell

Wimborne

Dorset

BH21 7HE

REGISTERED NUMBER:

07340797 (England and Wales)

ACCOUNTANTS:

Carter & Coley

Chartered Accountants

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

FIXED ASSETS

Tangible assets

4

12,417

15,349

CURRENT ASSETS

Stocks

32,286

37,154

Debtors

5

925

887

Cash at bank

64,798

39,922

98,009

77,963

CREDITORS

Amounts falling due within one year

6

108,385

90,226

NET CURRENT LIABILITIES

(10,376

)

(12,263

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,041

3,086

PROVISIONS FOR LIABILITIES

1,565

2,072

NET ASSETS

476

1,014

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

276

814

SHAREHOLDERS' FUNDS

476

1,014

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.

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 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 9 July 2021 and were signed on its behalf by:

B Davies - Director

1.	STATUTORY INFORMATION

Expanding Technology 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.

Turnover

Turnover represents services provided during the period, exclusive of Value Added Tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2019 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 November 2019

and 31 October 2020

21,423

9,000

30,423

DEPRECIATION

At 1 November 2019

7,874

7,200

15,074

Charge for year

2,032

900

2,932

At 31 October 2020

9,906

8,100

18,006

NET BOOK VALUE

At 31 October 2020

11,517

900

12,417

At 31 October 2019

13,549

1,800

15,349

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

912

887

Ocean Quay Marina Limited

13

-

925

887

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

1,200

-

Corporation tax

39,598

20,815

VAT

10,487

14,622

Wages control

667

-

Ocean Quay Investments Limited

54,808

53,189

Directors' current accounts

600

600

Accruals and deferred income

1,025

1,000

108,385

90,226

7.	RELATED PARTY DISCLOSURES

TRANSACTIONS WITH COMPANIES UNDER COMMON OWNERSHIP

Non interest bearing loans on which no terms of repayment have been agreed. The amount due to companies under common ownership at the balance sheet date amounted to £54,808 (2019 - £53,189).

Non interest bearing loans on which no terms of repayment have been agreed. The amount due from companies under common ownership at the balance sheet date amounted to £13 (2019 - £nil).

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 Income Statement 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 Expanding Technology Ltd for the year ended 31 October 2020 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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 Expanding Technology 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 Expanding Technology Ltd and state those matters that we have agreed to state to the Board of Directors of Expanding Technology 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 Expanding Technology Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Expanding Technology 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 profit of Expanding Technology Ltd. You consider that Expanding Technology 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 Expanding Technology 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.

Carter & Coley

Chartered Accountants

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

9 July 2021