ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

ECOGUM LIMITED - Company Information

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Registered number: 07988746









ECO GUM LIMITED







UNAUDITED

ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 30 SEPTEMBER 2015
 
ECO GUM LIMITED
 
 
The following reproduces the text of the Chartered accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ECO GUM LIMITED
FOR THE PERIOD ENDED 30 SEPTEMBER 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Eco Gum Limited for the year ended 30 September 2015 which comprise the Profit and loss account, the Statement of total recognised gains and losses, the Balance sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
 

As a 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/regulations.


This report is made solely to the Board of directors of Eco Gum 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 financial statements of Eco Gum Limited and state those matters that we have agreed to state to the Board of directors of Eco Gum 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 Eco Gum Limited and its Board of directors, as a body, for our work or for this report.
 
 
It is your duty to ensure that Eco Gum Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the company's assets, liabilities, financial position and loss. You consider that Eco Gum Limited is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Eco Gum 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.





Unadkat & Co
 
Chartered Accountants
  
12 The Wharf
16 Bridge  Street
Birmingham
B1 2JS

30 June 2016
Page 1
 
ECO GUM LIMITED
REGISTERED NUMBER: 07988746

ABBREVIATED BALANCE SHEET
AS AT 30 SEPTEMBER 2015

2015
2014
Note
£
£
£
£
 
FIXED ASSETS





 
Tangible assets
 
2
1,139
1,340
 
CURRENT ASSETS





 
Debtors
395,399
676,258

 
Cash at bank

-
1,415







 
395,399
677,673
 
CREDITORS: amounts falling due within one year
(184,037)
(408,971)
 
NET CURRENT ASSETS


211,362

268,702
 
TOTAL ASSETS LESS CURRENT LIABILITIES
212,501
270,042
 
CREDITORS: amounts falling due after more than one year
(13,001)

(13,001)

NET ASSETS




 199,500


 257,041
  
CAPITAL AND RESERVES

 
Called up share capital
3
100
100
 
Profit and loss account
199,400
256,941
 
SHAREHOLDERS' FUNDS
 

 199,500

 257,041


The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. 

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 September 2015 and of its loss for the year in accordance with the requirements of sections 394 and 395 of the Act 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, which have been prepared in accordance with the provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 30 June 2016.





Mr Alex W Gayden
Director

The notes on pages 3 to 4 form part of these financial statements.

Page 2
 
ECO GUM LIMITED
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2015

1.ACCOUNTING POLICIES

1.1
Basis of preparation of financial statements

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).

1.2
Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

1.3
Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation.  Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant and machinery
-
20% Reducing balance


2.TANGIBLE FIXED ASSETS



£


Cost 



At 1 October 2014 and 30 September 2015

2,034



Depreciation


At 1 October 2014
694

Charge for the year
201


At 30 September 2015

895




Net book value


At 30 September 2015
 1,139


At 30 September 2014

 1,340


3.SHARE CAPITAL
        2015
        2014
        £

        £

Allotted, called up and fully paid



100 Ordinary shares of £1 each
 100
 100

Page 3
 
ECO GUM LIMITED
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2015

4.DIRECTORS' BENEFITS: ADVANCES, CREDIT AND GUARANTEES

During the year aggregate advances of £Nil (2014- £307,085) were made to the former director, Mr Neil Maddox and amounts repaid totalled £Nil (2014- £Nil). The loan outstanding to the company at the balance sheet date was £307,085 (2014- £307,085).
 
Page 4