Executives Online (Midlands) Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 06024045 (England and Wales)

EXECUTIVES ONLINE (MIDLANDS) LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

Chartered Accountants' Report

6

DIRECTORS:

A Nicholas

Mrs L Burton

SECRETARY:

Mrs L Burton

REGISTERED OFFICE:

26 Park Road

Melton Mowbray

Leicestershire

LE13 1TT

REGISTERED NUMBER:

06024045 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis

Chartered Accountants

and Business Advisers

26 Park Road

Melton Mowbray

Leicestershire

LE13 1TT

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

1,162

2,451

1,162

2,451

CURRENT ASSETS

Debtors

46,881

142,331

Cash at bank

87,586

36,781

134,467

179,112

CREDITORS

Amounts falling due within one year

44,927

119,517

NET CURRENT ASSETS

89,540

59,595

TOTAL ASSETS LESS CURRENT LIABILITIES

90,702

62,046

PROVISIONS FOR LIABILITIES

232

490

NET ASSETS

90,470

61,556

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

90,370

61,456

SHAREHOLDERS' FUNDS

90,470

61,556

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 8 July 2014 and were signed on its behalf by:

A Nicholas - Director

Mrs L Burton - Director

1.	ACCOUNTING POLICIES

Accounting convention

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).

Changes in accounting policies

On review of the depreciation policy for computer equipment, it was agreed by the directors that the policy

should be amended from 20% on reducing balance to 33.33% on cost.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Franchise fee

The franchise fee is written off in equal instalments over the term of the franchise.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33.33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange

ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating

result.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

and 31 December 2013

32,000

AMORTISATION

At 1 January 2013

and 31 December 2013

32,000

NET BOOK VALUE

At 31 December 2013

-

At 31 December 2012

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

and 31 December 2013

9,083

DEPRECIATION

At 1 January 2013

6,632

Charge for year

1,289

At 31 December 2013

7,921

NET BOOK VALUE

At 31 December 2013

1,162

At 31 December 2012

2,451

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

100

Ordinary

£1

100

100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2013 and

31 December 2012:

2013

2012

£

£

A Nicholas and Mrs L Burton

Balance outstanding at start of year

(7,989

)

(15,981

)

Amounts advanced

22,867

16,293

Amounts repaid

(15,392

)

(8,301

)

Balance outstanding at end of year

(514

)

(7,989

)

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) have

been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Executives Online (Midlands) Limited for the year ended 31 December 2013 which comprise

the Profit and Loss Account, the Balance Sheet and the related notes 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 Executives Online (Midlands) Limited, as a body, in accordance

with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial

statements of Executives Online (Midlands) Limited and state those matters that we have agreed to state to the Board

of Directors of Executives Online (Midlands) Limited, 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 the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Executives Online (Midlands) Limited has kept adequate accounting records and to

prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and

profit of Executives Online (Midlands) Limited. You consider that Executives Online (Midlands) 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 financial statements of Executives Online

(Midlands) 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

financial statements.

Duncan & Toplis

Chartered Accountants

and Business Advisers

26 Park Road

Melton Mowbray

Leicestershire

LE13 1TT

8 July 2014