Econvey Limited - Accounts to registrar - small 17.2

Econvey Limited - Accounts to registrar - small 17.2

ECONVEY LIMITED - Company Information

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REGISTERED NUMBER: 03917760 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

ECONVEY LIMITED

ECONVEY LIMITED (REGISTERED NUMBER: 03917760)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


ECONVEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2016







DIRECTOR: Mrs L Czul





REGISTERED OFFICE: The Barn
26 Spirthill
Calne
Wiltshire
SN11 9HP





REGISTERED NUMBER: 03917760 (England and Wales)





ACCOUNTANTS: Blomfields
The Courtyard
33 Duke Street
Trowbridge
Wiltshire
BA14 8EA
Page 1
ECONVEY LIMITED (REGISTERED NUMBER: 03917760)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 470,000 470,000

CURRENT ASSETS
Cash at bank 5,610 3,185

CREDITORS
Amounts falling due within one year 5 91,571 92,162
NET CURRENT LIABILITIES (85,961 ) (88,977 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
384,039
381,023

CREDITORS
Amounts falling due after more than one
year
6
371,591
371,484
NET ASSETS 12,448 9,539

CAPITAL AND RESERVES
Called up share capital 2 2
Non distributable reserve 7 30,000 30,000
Retained earnings (17,554 ) (20,463 )
SHAREHOLDERS' FUNDS 12,448 9,539

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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

The financial statements were approved by the director on 25 July 2017 and were signed by:





Mrs L Czul - Director


The notes form part of these financial statements

Page 2
ECONVEY LIMITED (REGISTERED NUMBER: 03917760)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016


1. STATUTORY INFORMATION

Econvey 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rent receivable.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws
that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal
of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 January 2016
and 31 December 2016 470,000
NET BOOK VALUE
At 31 December 2016 470,000
At 31 December 2015 470,000

The company uses fair value as deemed cost on transitions to FRS102 being a first time adopter.

Cost or valuation at 31 December 2016 is represented by:

£   
Valuation in 2016 30,000
Cost 440,000
470,000

Page 3 continued...
ECONVEY LIMITED (REGISTERED NUMBER: 03917760)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2016


4. INVESTMENT PROPERTY - continued

Investment properties were subject to valuation on May 2017 by director Mrs L Czul. The methods and
significant assumptions used to ascertain the fair value of investment property totalling £470,000 are comparable
sales from information found online, and from other local agents and valuers was used.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Other creditors 91,571 92,162

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2016 2015
£    £   
Other creditors 371,591 371,484

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 371,591 371,484

7. RESERVES
Non
distributable
reserve
£   
At 1 January 2016
and 31 December 2016 30,000

8. RELATED PARTY DISCLOSURES

At the balance sheet date the sum of £90,281was owed to the director by the company (2015 - £91,502).

9. FIRST YEAR ADOPTION

The accounts for the year ended 31st December 2015 were prepared under UK GAAP. The current years
accounts have been prepared under FRS102 and the date of transition was 1st December 2014.

Transitional relief
On transition to FRS 102, the company has taken advantage of the following transitional relief:

• to measure fair value at date of transition to FRS 102 and use as deemed cost on an investment property.

Page 4