E3Creative Ltd - Period Ending 2015-10-31

Registration number: 07404016

E3Creative Ltd
 
  Unaudited Abbreviated Accounts
 
  for the Year Ended 31 October 2015
 

Wilds Ltd
Chartered Accountants
Lancaster House
70-76 Blackburn Street
Radcliffe
Manchester
M26 2JW

E3Creative Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

E3Creative Ltd
(Registration number: 07404016)
Abbreviated Balance Sheet at 31 October 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			26,195			27,538
Current assets
Debtors					116,085			129,066
Cash at bank and in hand					230,240			215,467
					346,325			344,533
Creditors: Amounts falling due within one year		3			(170,972)			(194,215)
Net current assets					175,353			150,318
Total assets less current liabilities					201,548			177,856
Creditors: Amounts falling due after more than one year		3			(2,223)			(8,889)
Provisions for liabilities					(4,500)			(4,500)
Net assets					194,825			164,467
Capital and reserves
Called up share capital		4			1			1
Capital redemption reserve					2			2
Profit and loss account					194,822			164,464
Shareholders' funds					194,825			164,467

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

E3Creative Ltd
(Registration number: 07404016)
Abbreviated Balance Sheet at 31 October 2015
......... continued

For the year ending 31 October 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the Board on 17 December 2015 and signed on its behalf by:

......................................... Mr J Welsh Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

E3Creative Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 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).

Going concern

The director considers that the use of the going concern basis of accounting is appropriate because there are no material uncertainties relating to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Turnover

The turnover shown in the profit and loss account represents amounts receivable for goods and services provided during the year, exclusive of Value Added Tax. In respect of contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of contracts for on-going services is recognised by reference to the stage of completion.

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
Office equipment	25% Straight Line Method

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates at which they are expected to reverse, based on the tax rates and law enacted at the balance sheet date

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

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

E3Creative Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 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

		Tangible assets £			Total £
Cost
At 1 November 2014		55,162			55,162
Additions		14,630			14,630
At 31 October 2015		69,792			69,792
Depreciation
At 1 November 2014		27,624			27,624
Charge for the year		15,973			15,973
At 31 October 2015		43,597			43,597
Net book value
At 31 October 2015		26,195			26,195
At 31 October 2014		27,538			27,538

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		6,667			6,667
Amounts falling due after more than one year		2,223			8,889
Total secured creditors		8,890			15,556

Page 4

E3Creative Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary share of £0.01 (2014 - £1) each		50			1			1			1
A Ordinary shares of £0.01 (2014 - £0.00) each		50			1			-			-
		100			1			1			1

Page 5