1178 Edin Ltd.
1178 Edin Ltd.
Registered number: SC263469
ABRIDGED Financial Statements
For The Year Ended
28 February 2021
James Fraser & Co.
Chartered Accountants
3 Coates Place
Edinburgh
EH3 7AA
1178 Edin Ltd.
Financial Statements
For The Year Ended
28 February 2021
Financial Statements
| Contents | |
| Page | |
|---|---|
| Abridged Balance Sheet | 1—2 |
| Notes to the Abridged Financial Statements | 3—4 |
1178 Edin Ltd.
Abridged Balance Sheet
As at
28 February 2021
Abridged Balance Sheet
Registered number:
SC263469
For the year ending 28 February 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 3 |
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| Tangible Assets | 4 |
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| Investments | 5 |
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| CURRENT ASSETS | |||||
| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year |
( |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
( |
( |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
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| NET (LIABILITIES)/ASSETS |
( |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 6 |
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| Profit and Loss Account |
( |
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| SHAREHOLDERS' FUNDS | (13,618) | 124 | |||
Page 1
1178 Edin Ltd.
Abridged Balance Sheet (continued)
As at
28 February 2021
Directors' responsibilities:
-
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
-
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 28 February 2021 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
|
Director
|
|
|
The notes on pages 3 to 4 form part of these financial statements.
Page 2
1178 Edin Ltd.
Notes to the Abridged Financial Statements
For The Year Ended
28 February 2021
Notes to the Abridged Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Intangible Fixed Assets and Amortisation - Other Intangible
Patents and licences are being amortised to the profit and loss account over their estimated economic life of 10 years.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Motor Vehicles |
|
| Computer Equipment |
|
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2020: 2)
3.
Intangible Assets
| Total | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at
|
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| As at
|
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| Amortisation | |||
| As at
|
|
||
| Provided during the period |
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||
| As at
|
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| Net Book Value | |||
| As at
|
|
||
| As at
|
|
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Page 3
1178 Edin Ltd.
Notes to the Abridged Financial Statements (continued)
For The Year Ended
28 February 2021
4.
Tangible Assets
| Total | |
|---|---|
| £ | |
| Cost | |
| As at
|
|
| As at
|
|
| Depreciation | |
| As at
|
|
| Provided during the period |
|
| As at
|
|
| Net Book Value | |
| As at
|
|
| As at
|
|
5.
Investments
| Total | |
|---|---|
| £ | |
| Cost | |
| As at
|
4,226 |
| As at
|
4,226 |
| Provision | |
| As at
|
- |
| As at
|
- |
| Net Book Value | |
| As at
|
4,226 |
| As at
|
4,226 |
7.
General Information
1178 Edin Ltd.
is a private company, limited by shares, incorporated in Scotland, registered number
SC263469
. The registered office is 3 Coates Place, Edinburgh, EH3 7AA.
Page 4