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Company Registration No. 11179499 (England and Wales)
Eglobe Ltd Unaudited accounts for the year ended 31 January 2023
Eglobe Ltd Unaudited accounts Contents
Page
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Eglobe Ltd Company Information for the year ended 31 January 2023
Director
Przemyslaw Jan Niewczas
Company Number
11179499 (England and Wales)
Registered Office
Unit 3, Logistics City Fulcrum 6 Solent Way Whiteley, Fareham PO15 7QQ United Kingdom
Accountants
TBT Accountancy Ltd Westgate Chambers Staple Gardens Winchester Hampshire SO23 8SR
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Eglobe Ltd Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
34,533 
45,414 
Current assets
Inventories
900,000 
450,000 
Debtors
122,542 
124,753 
Cash at bank and in hand
3,405 
19,470 
1,025,947 
594,223 
Creditors: amounts falling due within one year
(365,106)
(328,825)
Net current assets
660,841 
265,398 
Total assets less current liabilities
695,374 
310,812 
Creditors: amounts falling due after more than one year
(9,042)
(12,541)
Provisions for liabilities
Deferred tax
(6,561)
(8,628)
Net assets
679,771 
289,643 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
679,770 
289,642 
Shareholders' funds
679,771 
289,643 
For the year ending 31 January 2023 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 director acknowledges his 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 and authorised for issue on 9 October 2023 and were signed on its behalf by
Przemyslaw Jan Niewczas Director Company Registration No. 11179499
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Eglobe Ltd Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
Eglobe Ltd is a private company, limited by shares, registered in England and Wales, registration number 11179499. The registered office is Unit 3, Logistics City Fulcrum 6, Solent Way, Whiteley, Fareham, PO15 7QQ, United Kingdom.
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 is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discount, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: - the Company has transferred the significant risks and rewards of ownership to the buyer; - 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 probably that the Company will receive the consideration due under the transaction; and - the costs incurred or to be incurred in respect of the transaction can be measured reliably
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5 years on a reducing balance basis
Motor vehicles
4 years on a reducing balance basis
Computer equipment
3 years on a reducing balance basis
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Eglobe Ltd Notes to the Accounts for the year ended 31 January 2023
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Foreign exchange
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.
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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 February 2022
42,615 
18,295 
- 
60,910 
Additions
895 
- 
3,552 
4,447 
Disposals
(5,505)
(2,300)
- 
(7,805)
At 31 January 2023
38,005 
15,995 
3,552 
57,552 
Depreciation
At 1 February 2022
10,491 
5,005 
- 
15,496 
Charge for the year
5,503 
2,999 
1,184 
9,686 
On disposals
(1,157)
(1,006)
- 
(2,163)
At 31 January 2023
14,837 
6,998 
1,184 
23,019 
Net book value
At 31 January 2023
23,168 
8,997 
2,368 
34,533 
At 31 January 2022
32,124 
13,290 
- 
45,414 
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Eglobe Ltd Notes to the Accounts for the year ended 31 January 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
2,290 
2,100 
Accrued income and prepayments
17,801 
6,227 
Other debtors
46,526 
58,330 
66,617 
66,657 
Amounts falling due after more than one year
Other debtors
55,925 
58,096 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
104,554 
90,853 
VAT
118,836 
52,731 
Trade creditors
17,864 
4,398 
Taxes and social security
102,978 
46,740 
Other creditors
12,816 
3,503 
Accruals
1,058 
600 
Deferred income
7,000 
130,000 
365,106 
328,825 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
9,042 
12,541 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Przemyslaw Jan Niewczas
Director's loan account
46,433 
90,759 
90,667 
46,525 
46,433 
90,759 
90,667 
46,525 
The director's loan is repayable on demand and is charged at a rate of 2%.
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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