Registered number
10850659
EAZZYTRADE LIMITED
Filleted Accounts
31 December 2021
EAZZYTRADE LIMITED
Registered number: 10850659
Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 26,868 46,998
Current assets
Stocks 36,688 38,960
Debtors 4 11,045 6,505
Cash at bank and in hand 22,009 62,722
69,742 108,187
Creditors: amounts falling due within one year 5 (27,323) (28,076)
Net current assets 42,419 80,111
Total assets less current liabilities 69,287 127,109
Creditors: amounts falling due after more than one year 6 (252,974) (268,516)
Net liabilities (183,687) (141,407)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (184,687) (142,407)
Shareholders' funds (183,687) (141,407)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
BOULT, Julie Bridget
Director
Approved by the board on 2 March 2022
EAZZYTRADE LIMITED
Notes to the Accounts
for the year ended 31 December 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Going concern
The Accounts of the company have been prepared on the going concern basis notwithstanding the fact that the balance sheet has negative equity, as the directors of the company have confirmed that they will not recall the loans owed to the company untill it turns into a profitable organisation.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Fixtures, fittings, tools and equipment
£
Cost
At 1 January 2021 100,650
At 31 December 2021 100,650
Depreciation
At 1 January 2021 53,652
Charge for the year 20,130
At 31 December 2021 73,782
Net book value
At 31 December 2021 26,868
At 31 December 2020 46,998
4 Debtors 2021 2020
£ £
Other debtors 11,045 6,505
5 Creditors: amounts falling due within one year 2021 2020
£ £
Trade creditors (1,991) 2,945
Taxation and social security costs 645 1,236
Other creditors 28,669 23,895
27,323 28,076
6 Creditors: amounts falling due after one year 2021 2020
£ £
Bank loans 41,958 47,500
Other creditors 211,016 221,016
252,974 268,516
7 Other information
EAZZYTRADE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
73b Abington Street,
Northampton
England
NN1 2BH
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