E3CREATIVE_LTD - Accounts

DEPT EXPERIENCE DESIGN LTD - Company Information

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Company Registration No. 07404016 (England and Wales)

E3CREATIVE LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2016

E3CREATIVE LTD

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

E3CREATIVE LTD

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

121,492

26,195

Current assets

Debtors

175,597

116,085

Cash at bank and in hand

450,529

230,240

626,126

346,325

Creditors: amounts falling due within one year

(273,827)

(170,972)

Net current assets

352,299

175,353

Total assets less current liabilities

473,791

201,548

Creditors: amounts falling due after more than one year

(2,223)

Provisions for liabilities

(6,546)

(4,500)

467,245

194,825

Capital and reserves

Called up share capital

Other reserves

Profit and loss account

467,242

194,822

Shareholders' funds

467,245

194,825

E3CREATIVE LTD

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 OCTOBER 2016

- 2 -

For the financial year ended 31 October 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 7 March 2017

J Welsh

G M Tivey

Director

Company Registration No. 07404016

E3CREATIVE LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT 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 less estimated residual value of each asset over its expected useful life, as follows:

Tenant improvements

Over the life of the lease

Fixtures, fittings & equipment

25% straight line

1.4

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.5

Long term contracts

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

1.6

Deferred taxation

Deferred taxation is recognised in respect of all timing differences which have originated but not reversed at the balance sheet date. Timing differences are differences between taxable profits and the results as stated in the financial statements which arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised for tax purposes.

A net deferred tax asset is regarded as recoverable and therefore recognised only when it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences can be deducted.

Deferred tax is measured at the average tax rates which are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws which have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

1.7

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

E3CREATIVE LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2016

- 4 -

Fixed assets

Tangible assets

Cost

At 1 November 2015

69,792

Additions

126,492

At 31 October 2016

196,284

Depreciation

At 1 November 2015

43,597

Charge for the year

31,195

At 31 October 2016

74,792

Net book value

At 31 October 2016

121,492

At 31 October 2015

26,195

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £2,222 (2015 - £6,667).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £- (2015 - £2,223).

Share capital

2016

2015

Allotted, called up and fully paid

50 A ordinary shares of 1p each

50 B ordinary shares of 1p each

E3CREATIVE LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2016

- 5 -

Related party relationships and transactions

The following directors had interest free loans during the year. The movement on these loans are as follows:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

J Welsh

12,610

9,187

22,609

(812)

12,610

9,187

22,609

(812)