Event Logistics Live Limited - Period Ending 2013-12-31

Registration number: 07678468

Event Logistics Live Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2013
 

Stewarts Accountants Limited
271 High Street
Berkhamsted
Herts
HP4 1AA

Event Logistics Live Limited
Contents

Company Information 1

Directors' Report 2

Accountants' Report 3

Profit and Loss Account 4

Balance Sheet 5

Notes to the Financial Statements 6 to 8

Event Logistics Live Limited
Company Information

Directors

Trevor Foley Neil Goatcher

Registered office

119 High Street Berkhamsted Herts HP4 2DJ

Bankers

NatWest Berkhamsted 199 High Street Berkhamsted Herts HP4 1BH

Accountants

Stewarts Accountants Limited 271 High Street Berkhamsted Herts HP4 1AA

Page 1

Event Logistics Live Limited
Directors' Report for the Year Ended 31 December 2013

The directors present their report and the unaudited financial statements for the year ended 31 December 2013.

Directors of the company

The directors who held office during the year were as follows:

Trevor Foley

Neil Goatcher

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 2 April 2014 and signed on its behalf by:

.........................................
Trevor Foley
Director

Page 2

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Event Logistics Live Limited
for the Year Ended 31 December 2013

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Event Logistics Live Limited for the year ended 31 December 2013 set out on pages 4 to 8 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 Event Logistics Live 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 Event Logistics Live 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 Event Logistics Live Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Event Logistics Live 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 Event Logistics Live Limited. You consider that Event Logistics Live 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 Event Logistics Live 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.

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

Stewarts Accountants Limited
271 High Street
Berkhamsted
Herts
HP4 1AA

2 April 2014

Page 3

Event Logistics Live Limited
Profit and Loss Account for the Year Ended 31 December 2013

		Note			2013 £			2012 £
Turnover					214,299			223,990
Cost of sales					(193,748)			(177,099)
Gross profit					20,551			46,891
Administrative expenses					(553)			(617)
Operating profit					19,998			46,274
Profit on ordinary activities before taxation					19,998			46,274
Tax on profit on ordinary activities		2			(3,999)			(9,255)
Profit for the financial year		7			15,999			37,019

The notes on pages 6 to 8 form an integral part of these financial statements.
Page 4

Event Logistics Live Limited
(Registration number: 07678468)
Balance Sheet at 31 December 2013

		Note			2013 £			2012 £
Current assets
Debtors		3			5,167			42,160
Cash at bank and in hand					50,128			46,310
					55,295			88,470
Creditors: Amounts falling due within one year		4			(40,624)			(69,798)
Net assets					14,671			18,672
Capital and reserves
Called up share capital		5			3			3
Profit and loss account		7			14,668			18,669
Shareholders' funds					14,671			18,672

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

For the year ending 31 December 2013 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.

Approved and authorised for issue by the Board on 2 April 2014 and signed on its behalf by:

.........................................
Trevor Foley
Director

The notes on pages 6 to 8 form an integral part of these financial statements.
Page 5

Event Logistics Live Limited
Notes to the Financial Statements for the Year Ended 31 December 2013
......... continued

1	Accounting policies

Basis of preparation

The financial statements 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.

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

Taxation

Tax on profit on ordinary activities

		2013 £			2012 £
Current tax
Corporation tax charge		3,999			9,255

3

Debtors

		2013 £			2012 £
Trade debtors		-			26,150
Other debtors		5,167			16,010
		5,167			42,160

Debtors includes £nil (2012 - £26,150) receivable after more than one year.

 

Page 6

Event Logistics Live Limited
Notes to the Financial Statements for the Year Ended 31 December 2013
......... continued

4	Creditors: Amounts falling due within one year

		2013 £			2012 £
Trade creditors		20,441			810
Corporation tax		4,000			9,254
Other taxes and social security		-			113
Other creditors		16,183			59,621
		40,624			69,798

5	Share capital

Allotted, called up and fully paid shares

	2013						2012
		No.			£			No.			£
Ordinary of £1 each		3			3			3			3

6

Dividends

		2013 £			2012 £
Dividends paid
Current year interim dividend paid		20,000			18,350

7

Reserves

		Profit and loss account £			Total £
At 1 January 2013		18,669			18,669
Profit for the year		15,999			15,999
Dividends		(20,000)			(20,000)
At 31 December 2013		14,668			14,668

Page 7

Event Logistics Live Limited
Notes to the Financial Statements for the Year Ended 31 December 2013
......... continued

8	Related party transactions

Other related party transactions

During the year the company made the following related party transactions:

tfconnect Limited (tfconnect Limited is 75% owned by Trevor Foley) The company paid a management fee of £80,000 (2012 - £80,000) to tfconnect Limited. At the balance sheet date the amount due to tfconnect Limited was £17,280 (2012 - £nil).

Trevor Foley (Director / Shareholder) The company paid dividends of £10,000 (2012 - £5,000) to Trevor Foley. At the balance sheet date the amount due to Trevor Foley was £nil (2012 - £nil).

Neil Goatcher (Director / Shareholder) The company paid dividends of £10,000 (2012 - £13,350) to Neil Goatcher. At the balance sheet date the amount due to Neil Goatcher was £nil (2012 - £nil).

9

Control

The company is controlled by the directors who own 100% of the called up share capital.

Page 8