E K S DIGITAL SOLUTIONS LTD - Period Ending 2015-10-31

Company registration number: 03855135

E K S DIGITAL SOLUTIONS LTD
 
  Annual Report and Unaudited Abbreviated Accounts
 
  Year Ended 31 October 2015
 

Beresfords
  Chartered Accountants
  Castle House
  Castle Hill Avenue
  Folkestone
  Kent
  CT20 2TQ

E K S DIGITAL SOLUTIONS LTD
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

E K S DIGITAL SOLUTIONS LTD
(Company registration number: 03855135)
Abbreviated Balance Sheet
31 October 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					43,619			46,184
Current assets
Stocks					113,818			117,251
Debtors					163,385			100,434
Cash at bank and in hand					49,299			64,651
					326,502			282,336
Creditors: Amounts falling due within one year					(149,269)			(125,802)
Net current assets					177,233			156,534
Total assets less current liabilities					220,852			202,718
Creditors: Amounts falling due after more than one year					(17,122)			(20,494)
Net assets					203,730			182,224
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					203,728			182,222
Shareholders' funds					203,730			182,224

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

E K S DIGITAL SOLUTIONS LTD
(Company registration number: 03855135)
Abbreviated Balance Sheet
31 October 2015......... continued

For the year ending 31 October 2015 the company was entitled to exemption from audit 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 director acknowledges his 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 director on 3 June 2016

......................................... Mr G Sims Director

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

E K S DIGITAL SOLUTIONS LTD
Notes to the Abbreviated Accounts
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).

Turnover

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

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 & Fittings	25% straight line
Motor Vehicles	25% straight line
Equipment & Fixtures	25% straight line

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.

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 3

E K S DIGITAL SOLUTIONS LTD
Notes to the Abbreviated Accounts
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		162,352			162,352
Additions		17,186			17,186
Disposals		(18,700)			(18,700)
At 31 October 2015		160,838			160,838
Depreciation
At 1 November 2014		116,168			116,168
Charge for the year		19,751			19,751
Eliminated on disposals		(18,700)			(18,700)
At 31 October 2015		117,219			117,219
Net book value
At 31 October 2015		43,619			43,619
At 31 October 2014		46,184			46,184

Page 4

E K S DIGITAL SOLUTIONS LTD
Notes to the Abbreviated Accounts
Year Ended 31 October 2015......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary Shares of £1 each		2			2			2			2

Page 5