EC Solutions NE Ltd 31/10/2023 iXBRL

EC Solutions NE Ltd 31/10/2023 iXBRL

EC SOLUTIONS NE LTD - Company Information

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3 01/11/2022 31/10/2023 2023-10-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-11-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07400695 2022-11-01 2023-10-31 07400695 2023-10-31 07400695 2022-10-31 07400695 2021-11-01 2022-10-31 07400695 2022-10-31 07400695 2021-10-31 07400695 core:FurnitureFittingsToolsEquipment 2022-11-01 2023-10-31 07400695 core:MotorVehicles 2022-11-01 2023-10-31 07400695 bus:Director1 2022-11-01 2023-10-31 07400695 core:WithinOneYear 2023-10-31 07400695 core:WithinOneYear 2022-10-31 07400695 core:ShareCapital 2023-10-31 07400695 core:ShareCapital 2022-10-31 07400695 core:RetainedEarningsAccumulatedLosses 2023-10-31 07400695 core:RetainedEarningsAccumulatedLosses 2022-10-31 07400695 bus:SmallEntities 2022-11-01 2023-10-31 07400695 bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 07400695 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 07400695 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 07400695 bus:AbridgedAccounts 2022-11-01 2023-10-31
Company registration number: 07400695
EC Solutions NE Ltd
Unaudited filleted abridged financial statements
31 October 2023
EC Solutions NE Ltd
Contents
Abridged statement of financial position
Notes to the financial statements
EC Solutions NE Ltd
Abridged statement of financial position
31 October 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 3,855 5,138
_______ _______
3,855 5,138
Current assets
Debtors 6,153 24,604
Cash at bank and in hand 11,480 29,283
_______ _______
17,633 53,887
Creditors: amounts falling due
within one year ( 18,047) ( 30,826)
_______ _______
Net current (liabilities)/assets ( 414) 23,061
_______ _______
Total assets less current liabilities 3,441 28,199
_______ _______
Net assets 3,441 28,199
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 3,341 28,099
_______ _______
Shareholders funds 3,441 28,199
_______ _______
For the year ending 31 October 2023 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the current year ending 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 12 January 2024 , and are signed on behalf of the board by:
Mr E Clarkson
Director
Company registration number: 07400695
EC Solutions NE Ltd
Notes to the financial statements
Year ended 31 October 2023
1. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.