Easy Land Limited Company Accounts

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COMPANY REGISTRATION NUMBER: 05383732

Easy Land Limited

Filleted Unaudited Financial Statements

Year Ended

31 March 2017

Easy Land Limited

Financial Statements

Year Ended 31st March 2017

Contents	Page

Officers and Professional Advisers	1

Statement of Financial Position	2

Notes to the Financial Statements	3

Easy Land Limited

Officers and Professional Advisers

The Board of Directors	Mr J T Armstrong
	Mr S P Hutt

Registered Office	4th Floor
	100 Fenchurch Street
	London
	EC3M 5JD

Accountants	Wilson Stevens
	Accountants
	4th Floor
	100 Fenchurch Street
	London
	EC3M 5JD

Easy Land Limited

Statement of Financial Position

31 March 2017

	2017		2016
Note	£	£	£	£

Current Assets

Stocks		55,658	17,329
Debtors	4	4,925	–
Cash at bank and in hand		13,495	91,239
		--------	---------
		74,078	108,568

Creditors: Amounts Falling due Within One Year	5	2,373		14,856
		--------		---------
Net Current Assets			71,705		93,712
			--------		--------
Total Assets Less Current Liabilities			71,705		93,712
			--------		--------
Net Assets			71,705		93,712
			--------		--------

Capital and Reserves

Called up share capital	100	100
Profit and loss account	71,605	93,612
	--------	--------
Shareholders Funds	71,705	93,712
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31st March 2017 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 financial statements were approved by the board of directors and authorised for issue on 27 June 2017 , and are signed on behalf of the board by:

Mr J T Armstrong Director

Company registration number: 05383732

Easy Land Limited

Notes to the Financial Statements

Year Ended 31st March 2017

1. General Information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4th Floor, 100 Fenchurch Street, London, EC3M 5JD.

2. Statement of Compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1st April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.

Disclosure Exemptions

The financial statements have been prepared in accordance with the provision of FRS 102 Section 1A for small entities. There were no material departures from the standard.

Judgements and Key Sources of Estimation Uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue Recognition

Turnover represents the total value of sales made during the year. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Income Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Debtors

	2017	2016
	£	£

Other debtors	4,925	–
	-------	----

5. Creditors: amounts falling due within one year

	2017	2016
	£	£

Corporation tax	–	12,725
Other creditors	2,373	2,131
	-------	--------
	2,373	14,856
	-------	--------

6. Directors' Advances, Credits and Guarantees

There were no directors advances, credits and guarantees to disclose during the period .

7. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1st April 2015.

No transitional adjustments were required in equity or profit or loss for the year.