Eustace Communications Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC223819 (Scotland)

Financial Statements For The Year Ended 31 March 2018

for

Eustace Communications Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

D R Eustace

REGISTERED OFFICE:

13 Mayfield Gardens

Newington

Edinburgh

EH9 2AX

REGISTERED NUMBER:

SC223819 (Scotland)

ACCOUNTANTS:

Robb Ferguson

Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

17,713

23,076

17,713

23,076

CURRENT ASSETS

Stocks

-

600

Debtors

1,076

1,608

Cash at bank and in hand

17,234

4,154

18,310

6,362

CREDITORS

Amounts falling due within one year

32,792

23,474

NET CURRENT LIABILITIES

(14,482

)

(17,112

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,231

5,964

PROVISIONS FOR LIABILITIES

1,992

3,738

NET ASSETS

1,239

2,226

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,139

2,126

SHAREHOLDERS' FUNDS

1,239

2,226

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director on 19 December 2018 and were signed by:

D R Eustace - Director

1.	STATUTORY INFORMATION

Eustace Communications Limited is a private company, limited by shares , registered in Scotland. 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 company meets its day to day working capital requirements through loan advances made by the directors and an

overdraft facility from the company bankers. The directors consider that the company will continue to have adequate

working capital and on this basis consider it appropriate to prepare the financial statements on a going concern basis.

Turnover

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

tax and other sales taxes.

Intangible assets

Goodwill, being the amount paid in connection with the acquisition of this business, has been fully amortised over its useful

life.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

10% on cost

Fixtures and fittings

-

25% on reducing balance

Stocks

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

items.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and

non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative

financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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 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.

Current or deferred taxation assets and liabilities are not discounted.

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 (2017 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

and 31 March 2018

30,000

AMORTISATION

At 1 April 2017

and 31 March 2018

30,000

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

60,313

Disposals

(16,076

)

At 31 March 2018

44,237

DEPRECIATION

At 1 April 2017

37,237

Charge for year

4,891

Eliminated on disposal

(15,604

)

At 31 March 2018

26,524

NET BOOK VALUE

At 31 March 2018

17,713

At 31 March 2017

23,076

6.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D R Eustace.