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Company Registration No. 07790143 (England and Wales)
Erbology Ltd Unaudited accounts for the year ended 31 December 2021
Erbology Ltd Unaudited accounts Contents
Page
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Erbology Ltd Company Information for the year ended 31 December 2021
Directors
Irina Turcan Ludmila Turcan Victor Turcan
Company Number
07790143 (England and Wales)
Registered Office
20-22 WENLOCK ROAD LONDON N1 7GU
Accountants
Business Atrium Limited The Legacy Centre 85 Great Titchfield Street London W1W 6RJ
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Erbology Ltd Statement of financial position as at 31 December 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,107 
2,235 
Current assets
Inventories
45,642 
21,079 
Debtors
137,000 
122,314 
Cash at bank and in hand
718,018 
50,033 
900,660 
193,426 
Creditors: amounts falling due within one year
(100,420)
(51,137)
Net current assets
800,240 
142,289 
Total assets less current liabilities
801,347 
144,524 
Creditors: amounts falling due after more than one year
(47,749)
(50,000)
Net assets
753,598 
94,524 
Capital and reserves
Called up share capital
1,860 
1,793 
Share premium
1,003,390 
249,821 
Profit and loss account
(251,652)
(157,090)
Shareholders' funds
753,598 
94,524 
For the year ending 31 December 2021 the company was entitled to exemption from audit 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 Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 June 2021 and were signed on its behalf by
Irina Turcan Director Company Registration No. 07790143
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Erbology Ltd Notes to the Accounts for the year ended 31 December 2021
1
Statutory information
Erbology Ltd is a private company, limited by shares, registered in England and Wales, registration number 07790143. The registered office is 20-22 WENLOCK ROAD, LONDON, N1 7GU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Stocks
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% straight line
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Erbology Ltd Notes to the Accounts for the year ended 31 December 2021
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 January 2021
6,326 
Disposals
(4,850)
At 31 December 2021
1,476 
Depreciation
At 1 January 2021
4,091 
Charge for the year
1,128 
On disposals
(4,850)
At 31 December 2021
369 
Net book value
At 31 December 2021
1,107 
At 31 December 2020
2,235 
5
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
VAT
6,047 
5,624 
Trade debtors
81,733 
70,111 
Amounts due from group undertakings etc.
46,579 
46,579 
Other debtors
2,641 
- 
137,000 
122,314 
6
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Trade creditors
59,735 
21,820 
Taxes and social security
5,809 
4,950 
Loans from directors
34,876 
24,367 
100,420 
51,137 
7
Creditors: amounts falling due after more than one year
2021 
2020 
£ 
£ 
Bank loans
47,749 
50,000 
8
Share capital
2021 
2020 
£ 
£ 
Allotted, called up and fully paid:
1,860,000 Ordinary shares of £0.001 each
1,860 
1,793 
Shares issued during the period:
67,000 Ordinary shares of £0.001 each
67 
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Erbology Ltd Notes to the Accounts for the year ended 31 December 2021
9
Average number of employees
During the year the average number of employees was 4 (2020: 5).
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