Eaglebond Limited - Period Ending 2015-03-31

Registration number: 06962597

Eaglebond Limited
 
  Abbreviated Accounts
 
  for the Year Ended 31 March 2015
 

Brooks Green
  Accountants
  Abbey House
  342 Regents Park Road
  London
  N3 2LJ

Eaglebond Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Eaglebond Limited
for the Year Ended 31 March 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Eaglebond Limited for the year ended 31 March 2015 set out on pages 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 at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Eaglebond Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Eaglebond Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Eaglebond Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Eaglebond Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Eaglebond Limited. You consider that Eaglebond Limited 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 accounts of Eaglebond Limited. 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 accounts.

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

Brooks Green
Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

16 November 2015

Page 1

Eaglebond Limited
(Registration number: 06962597)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					135,000			150,000
Tangible fixed assets					27,700			29,568
					162,700			179,568
Current assets
Stocks					11,210			11,349
Debtors					305,897			284,880
Cash at bank and in hand					22,408			601
					339,515			296,830
Creditors: Amounts falling due within one year					(299,365)			(393,778)
Net current assets/(liabilities)					40,150			(96,948)
Net assets					202,850			82,620
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					202,750			82,520
Shareholders' funds					202,850			82,620

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 11 November 2015 and signed on its behalf by:

...................................................... Mr Mohamed Kanji Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Eaglebond Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on a straight line basis.

Asset class	Amortisation method and rate
Goodwill	10% on straight line basis

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	20% on reducing balance basis
Office equipment	20% on reducing balance basis
Motor vehicles	25% on reducing balance basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reserved at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Eaglebond Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2014		150,000			70,746			220,746
Additions		-			5,947			5,947
Disposals		-			(1,912)			(1,912)
At 31 March 2015		150,000			74,781			224,781
Depreciation
At 1 April 2014		-			41,178			41,178
Charge for the year		15,000			7,032			22,032
Eliminated on disposals		-			(1,129)			(1,129)
At 31 March 2015		15,000			47,081			62,081
Net book value
At 31 March 2015		135,000			27,700			162,700
At 31 March 2014		150,000			29,568			179,568

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 4