Epic IT Limited - Accounts to registrar - small 16.1.1

REGISTERED NUMBER: 05420197 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2015

for

Epic IT Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P Stavrou

C Koumourou

O Merritt

SECRETARY:

O Merritt

REGISTERED OFFICE:

South Point House

321 Chase Road

Southgate

London

N14 6JT

REGISTERED NUMBER:

05420197 (England and Wales)

ACCOUNTANTS:

Chelepis Watson Limited

Chartered Accountants

67 Westow Street

Upper Norwood

London

SE19 3RW

FIXED ASSETS

Tangible assets

5

59,216

88,529

CURRENT ASSETS

Stocks

21,628

37,775

Debtors: amounts falling due within one year

6

356,566

270,793

Cash at bank and in hand

163,309

153,964

541,503

462,532

CREDITORS

Amounts falling due within one year

7

486,540

392,240

NET CURRENT ASSETS

54,963

70,292

TOTAL ASSETS LESS CURRENT LIABILITIES

114,179

158,821

CAPITAL AND RESERVES

Called up share capital

2,500

2,500

Retained earnings

111,679

156,321

SHAREHOLDERS' FUNDS

114,179

158,821

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2015 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 30 August 2016 and were signed on its behalf by:

C Koumourou - Director

1.	STATUTORY INFORMATION

Epic IT Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. These are the company's first set of financial statements prepared in accordance with FRS102. There were no transition adjustments.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

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

Tangible fixed assets

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

Plant and machinery

-

33% on cost

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2015

and 31 December 2015

116,519

DEPRECIATION

At 1 January 2015

27,990

Charge for year

29,313

At 31 December 2015

57,303

NET BOOK VALUE

At 31 December 2015

59,216

At 31 December 2014

88,529

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.15

31.12.14

£

£

Trade debtors

354,221

267,754

Other debtors

2,345

3,039

356,566

270,793

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.15

31.12.14

£

£

Trade creditors

197,568

203,592

Taxation and social security

133,017

89,566

Other creditors

155,955

99,082

486,540

392,240

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £317,116 were paid to the directors .