Exclusive North East Ltd Accounts

EXCLUSIVE NORTH EAST LTD - Company Information






Exclusive North East Ltd
	Company No. 09132873
		Information for Filing with The Registrar
		31 July 2018

The Director presents her report and the accounts for the year ended 31 July 2018.

Principal activities
The principal activity of the company during the year under review was business development via the internet and organised events.




Director

The Director who served at any time during the year was as follows:

L. Hitman



































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

L. Hitman
Director
24 August 2018

at	31 July 2018

Company No.		09132873	Notes	2018	2017
				£	£






Current assets

	Debtors		2	1,178	3,030

	Cash at bank and in hand			498	1,389
				1,676	4,419
Creditors: Amount falling due within one year			3	(3,612)	(84,447)
Net current liabilities				(1,936)	(80,028)
Total assets less current liabilities				(1,936)	(80,028)
Creditors: Amounts falling due after more than one year			4	(91,089)	(2,410)



Net liabilities				(93,025)	(82,438)

Capital and reserves
	Called up share capital			1	1



	Profit and loss account		5	(93,026)	(82,439)

Total equity				(93,025)	(82,438)


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 July 2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 24 August 2018

And signed on its behalf by:

L. Hitman
Director

for the year ended 31 July 2018

Accounting policies

Basis of preparation

The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

2	Debtors
			2018	2017
			£	£
		Trade debtors	252	1,500



		VAT recoverable	926	1,530



			1,178	3,030

3	Creditors:
		amounts falling due within one year
			2018	2017
			£	£


		Other loans	2,410	8,340

		Trade creditors	502	-



		Loans from directors	-	75,358

		Accruals and deferred income	700	749
			3,612	84,447

4	Creditors:
		amounts falling due after more than one year
			2018	2017
			£	£


		Other loans	91,089	2,410





			91,089	2,410

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.