Eastern Business Systems Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 02912024 (England and Wales)

EASTERN BUSINESS SYSTEMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1ST APRIL 2016 TO 30TH APRIL 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

10

DIRECTOR:

P Runciman

REGISTERED OFFICE:

Royal Oak House

122 North Walsham Road

Norwich

NR6 7QQ

REGISTERED NUMBER:

02912024 (England and Wales)

ACCOUNTANTS:

Hollingsworth & Co Ltd

Coppice House

Halesfield 7

Telford

Shropshire

TF7 4NA

FIXED ASSETS

Tangible assets

4

66,380

79,069

CURRENT ASSETS

Stocks

433,450

340,529

Debtors

5

1,959,711

805,026

Cash at bank and in hand

424,528

1,538,170

2,817,689

2,683,725

CREDITORS

Amounts falling due within one year

6

663,761

1,077,411

NET CURRENT ASSETS

2,153,928

1,606,314

TOTAL ASSETS LESS CURRENT LIABILITIES

2,220,308

1,685,383

PROVISIONS FOR LIABILITIES

8

12,581

14,366

NET ASSETS

2,207,727

1,671,017

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

2,207,627

1,670,917

SHAREHOLDERS' FUNDS

2,207,727

1,671,017

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th April 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 30th April 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 9th November 2017 and were signed by:

P Runciman - Director

1.	STATUTORY INFORMATION

Eastern Business Systems 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The accounting year end was changed to 30th April in order to bring it in line with the year

end of the holding company,Business By Technology ( Holdings) Limited..The financial

statements have been prepared for a thirteen month period ended 30th April

2017.Consequently, they are not directly comparable with the previous year's financial

statements which were prepared for a twelve month period..

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Stocks

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

for obsolete and slow moving items.

Taxation

Taxation for the period 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet 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 period 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the

balance sheet. Those held under hire purchase contracts are depreciated over their

estimated useful lives. Those held under finance leases are depreciated over their estimated

useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period.

The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to

the company's pension scheme are charged to profit or loss in the period to which they

relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 20 .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1st April 2016

5,488

74,823

129,562

209,873

Additions

-

31,164

-

31,164

Disposals

-

(8,652

)

(21,867

)

(30,519

)

At 30th April 2017

5,488

97,335

107,695

210,518

DEPRECIATION

At 1st April 2016

1,418

45,438

83,948

130,804

Charge for period

595

19,158

24,100

43,853

Eliminated on disposal

-

(8,652

)

(21,867

)

(30,519

)

At 30th April 2017

2,013

55,944

86,181

144,138

NET BOOK VALUE

At 30th April 2017

3,475

41,391

21,514

66,380

At 31st March 2016

4,070

29,385

45,614

79,069

Fixed assets, included in the above, which are held under hire purchase contracts are as

follows:

Motor

vehicles

£

COST

At 1st April 2016

62,920

Transfer to ownership

(62,920

)

At 30th April 2017

-

DEPRECIATION

At 1st April 2016

22,319

Charge for period

20,097

Transfer to ownership

(42,416

)

At 30th April 2017

-

NET BOOK VALUE

At 30th April 2017

-

At 31st March 2016

40,601

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

515,175

724,243

Other debtors

7,459

14,997

Amount due from Business By

Technology Holdings Limited

1,000,000

-

Amount due from Business By Technology Limited

383,532

-

Prepayments

53,545

65,786

1,959,711

805,026

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts (see note 7)

-

3,833

Trade creditors

234,009

526,803

Corporation tax

141,005

128,806

Social security and other taxes

32,073

39,167

VAT

126,917

122,157

Other creditors

(476

)

-

Accrued expenses

130,233

256,645

663,761

1,077,411

7.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2017

2016

£

£

Gross obligations repayable:

Within one year

-

4,061

Finance charges repayable:

Within one year

-

228

Net obligations repayable:

Within one year

-

3,833

Non-cancellable

operating leases

2017

2016

£

£

Within one year

7,150

17,534

Between one and five years

79,131

84,248

86,281

101,782

8.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

12,581

14,366

Deferred

tax

£

Balance at 1st April 2016

14,366

Credit to Income Statement during period

(1,785

)

Balance at 30th April 2017

12,581

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

40

"A" Ordinary

£1

40

40

40

"B" Ordinary

£1

40

40

20

"C" Ordinary

£1

20

20

100

100

10.

RESERVES

Retained

earnings

£

At 1st April 2016

1,670,917

Profit for the period

552,710

Dividends

(16,000

)

At 30th April 2017

2,207,627

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Business By Technology (Holdings)Limited.

The ultimate controlling party is P Runciman.

The following reproduces the text of the report prepared for the director and members in respect of

the company's annual unaudited financial statements. In accordance with the Companies Act

2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Director are not required to

be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Eastern Business Systems Limited for the period ended

30th April 2017 which comprise the Income Statement, Balance Sheet and the related notes from

the company's accounting records and from information and explanations you have given us.

As a practising 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Eastern Business Systems Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Eastern Business Systems Limited and state those matters that we have agreed to state to the director of Eastern Business Systems Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Eastern Business Systems Limited director for our work or for this report.

It is your duty to ensure that Eastern Business Systems Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Eastern Business Systems Limited. You consider that Eastern Business Systems Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Eastern Business Systems 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.

Hollingsworth & Co Ltd

Coppice House

Halesfield 7

Telford

Shropshire

TF7 4NA

9th November 2017