EKO-INSTALLATIONS_LIMITED - Accounts

EKO-INSTALLATIONS LIMITED - Company Information

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EKO-INSTALLATIONS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2015

Company Registration No. SC440079 (Scotland)

EKO-INSTALLATIONS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

EKO-INSTALLATIONS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JANUARY 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

7,316

2,406

Current assets

Stocks

5,000

Debtors

37,792

28,174

Cash at bank and in hand

7,446

2,670

50,238

35,844

Creditors: amounts falling due within one year

(51,427)

(38,240)

Net current liabilities

(1,189)

(2,396)

Total assets less current liabilities

6,127

Provisions for liabilities

(1,500)

4,627

Capital and reserves

Called up share capital

Profit and loss account

4,617

Shareholders' funds

4,627

For the financial year ended 31 January 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 27 October 2015

J Webley

D Webley

Director

Company Registration No. SC440079

EKO-INSTALLATIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

33% reducing balance

Motor vehicles

25% reducing balance

1.4

Stock

Stock is valued at the lower of cost and net realisable value.

1.5

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences are differences between the taxable profits and the results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

A net deferred tax asset is regarded as recoverable and therefore recognised only when it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences can be deducted.

Deferred tax is not recognised when fixed assets are revalued unless by the balance sheet date there is a binding agreement to sell the revalued assets and the asset has been revalued to selling price. Neither is deferred tax recognised when fixed assets are sold and it is more likely than not that the taxable gain will be rolled over, being charged to tax only if and when the replacement assets are sold.

Deferred tax is measured on a non-discounted basis.

EKO-INSTALLATIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 February 2014

3,000

Additions

5,518

At 31 January 2015

8,518

Depreciation

At 1 February 2014

594

Charge for the period

608

At 31 January 2015

1,202

Net book value

At 31 January 2015

7,316

At 31 January 2014

2,406

Share capital

2015

2014

Allotted, called up and fully paid

10 Ordinary shares of £1 each

Directors' benefits: advances, credit and guarantees

Loans to directors

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Current account

7,269

788

8,057

Current account

7,270

788

8,058

14,539

1,576

16,115

The above loans are unsecured, interest-free and have no fixed terms of repayment.