E.S.C.O.P. - Period Ending 2018-03-31
E.S.C.O.P. - Period Ending 2018-03-31
Registration number:
E.S.C.O.P.
(A company limited by guarantee)
for the Year Ended 31 March 2018
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG
E.S.C.O.P.
(Registration number: 03296685)
Contents
Company Information |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
E.S.C.O.P.
(Registration number: 03296685)
Company Information
Directors |
Prof A R Bilia Dr M J Willoughby Dr M Frater-Schröder Dr D Csupor Prof L Krenn Dr T Wegener Dr B J Vanaclocha |
Company secretary |
Mr S Mills |
Registered office |
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Accountants |
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Page 1 |
E.S.C.O.P.
(Registration number: 03296685)
Balance Sheet as at 31 March 2018
Note |
2018 |
2017 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
- |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Dr T Wegener
Director
Page 2 |
E.S.C.O.P.
(Registration number: 03296685)
Statement of Changes in Equity for the Year Ended 31 March 2018
Profit and loss account |
Total |
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At 1 April 2017 |
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Deficit for the year |
( |
( |
Total comprehensive income |
( |
( |
At 31 March 2018 |
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Profit and loss account |
Total |
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At 1 April 2016 |
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Deficit for the year |
( |
( |
Total comprehensive income |
( |
( |
At 31 March 2017 |
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Page 3 |
E.S.C.O.P.
(Registration number: 03296685)
Notes to the Financial Statements for the Year Ended 31 March 2018
General information |
The company is a company limited by guarantee incorporated in England.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures, fittings and equipment |
25% straight line basis |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Development costs |
20% straight line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 4 |
E.S.C.O.P.
(Registration number: 03296685)
Notes to the Financial Statements for the Year Ended 31 March 2018
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Page 5 |
E.S.C.O.P.
(Registration number: 03296685)
Notes to the Financial Statements for the Year Ended 31 March 2018
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Intangible assets |
Development costs |
Total |
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Cost or valuation |
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At 1 April 2017 |
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At 31 March 2018 |
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Amortisation |
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At 1 April 2017 |
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Amortisation charge |
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At 31 March 2018 |
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Carrying amount |
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At 31 March 2018 |
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At 31 March 2017 |
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The aggregate amount of research and development expenditure recognised as an expense during the period is £Nil (2017 - £Nil).
Page 6 |
E.S.C.O.P.
(Registration number: 03296685)
Notes to the Financial Statements for the Year Ended 31 March 2018
Tangible assets |
Fixtures, fittings and equipment |
Total |
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Cost or valuation |
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At 1 April 2017 |
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At 31 March 2018 |
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Depreciation |
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At 1 April 2017 |
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Charge for the year |
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At 31 March 2018 |
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Carrying amount |
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At 31 March 2018 |
- |
- |
At 31 March 2017 |
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Stocks |
2018 |
2017 |
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Finished goods and goods for resale |
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Debtors |
2018 |
2017 |
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Prepayments and accrued income |
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Total current trade and other debtors |
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Page 7 |
E.S.C.O.P.
(Registration number: 03296685)
Notes to the Financial Statements for the Year Ended 31 March 2018
Creditors |
Note |
2018 |
2017 |
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Due within one year |
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Trade creditors |
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Accrued expenses |
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Financial commitments, guarantees and contingencies |
The total amount of financial commitments not included in the balance sheet is £
Page 8 |