ACCOUNTS - Final Accounts

E15 INVESTMENT MANAGEMENT LTD - Company Information

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Registered number: 11911728

E15 Investment Management Ltd

Report And Financial Statements

INFORMATION FOR FILING WITH THE REGISTRAR

31 March 2021

Rees Pollock

Chartered Accountants


E15 Investment Management Ltd Registered number:11911728

BALANCE SHEET

As at 31 March 2021

		2021		2020
Note		£		£

Fixed assets
Tangible assets	4		2,168		-
Current assets
Debtors: amounts falling due within one year	5	2,108		1,342
Cash at bank and in hand		312,738		820,661
		314,846		822,003
Creditors: amounts due within one year	6	(52,267)		(7,788)
Net current assets			262,579		814,215
Total assets less current liabilities			264,747		814,215

Net assets			264,747		814,215

Capital and reserves
Called up share capital	268	250
Share premium account	1,351,832	999,850
Profit and loss account	(1,087,353)	(185,885)
	264,747	814,215

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

Stephen Fordham

Director

Date: 25 November 2021

The notes on pages 2 to 5 form part of these financial statements.

Page 1


E15 Investment Management Ltd

NOTES TO THE FINANCIAL STATEMENTS

For the Year Ended 31 March 2021

1.	General information

E15 Investment Management Limited is a private company limited by shares incorporated on 28 March 2019 and registered in England & Wales with company number 11911728. The registered office is at 16 Great Queen Street, London, WC2B 5AH. The company is an appointed representative of a firm authorised and regulated by the Financial Conduct Authority ('FCA').

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 2


E15 Investment Management Ltd

NOTES TO THE FINANCIAL STATEMENTS

For the Year Ended 31 March 2021

2.Accounting policies (continued)

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.5

Financial instruments

The company does not trade in financial instruments and all such instruments arise directly from operations. All trade and other debtors are initially recognised at transaction value, as none contain in substance a financing transaction. Thereafter trade and other debtors are reviewed for impairment where there is objective evidence based on observable data that the balance may be impaired. The company does not hold collateral against its trade and other receivables so its exposure to credit risk is the net balance of trade and other debtors after allowance for impairment.
The company's cash holdings comprise on demand balances. All cash is held with banks with strong external credit ratings. Trade and other creditors and accruals are initially recognised at transaction value as none represent a financing transaction. They are only derecognised when they are extinguished. As the company only has short term receivables and payables, its net current asset position is a reasonable measure of its liquidity at any given time.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3


E15 Investment Management Ltd

NOTES TO THE FINANCIAL STATEMENTS

For the Year Ended 31 March 2021

2.Accounting policies (continued)

2.6

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Employees

The average monthly number of employees, including the directors, during the year was as follows:

	2021	2020
	No.	No.

Operations and administration	3	3

4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	Additions	2,586
	At 31 March 2021	2,586
	Depreciation
	Charge for the year on owned assets	418
	At 31 March 2021	418
	Net book value
	At 31 March 2021	2,168
	At 31 March 2020	-

Page 4


E15 Investment Management Ltd

NOTES TO THE FINANCIAL STATEMENTS

For the Year Ended 31 March 2021

Debtors

					2021	2020
					£	£


Prepayments and accrued income	2,108	1,342

6.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Trade creditors	16,423	3,000
Other taxation and social security	3,348	-
Other creditors	3,699	-
Accruals and deferred income	28,797	4,788
	52,267	7,788

7.	Share capital
		2021	2020
		£	£

Allotted, called up and fully paid

2,676 (2020 - 2,500) Ordinary Shares shares of £0.10 each	268	250

On 9 January 2021, 176 Ordinary shares were allotted for £2,000 per share.

Page 5