Company Registration No. 05186535 (England and Wales)
Eventual Design Limited
Unaudited accounts
for the year ended 30 January 2023
Eventual Design Limited
Unaudited accounts
Contents
Eventual Design Limited
Company Information
for the year ended 30 January 2023
Company Number
05186535 (England and Wales)
Registered Office
52 Windermere Road
London
W5 4TD
Accountants
Zoe Walsh FCCA
9 Cockspur Street
Birchmoor
Tamworth
Staffordshire
B78 1AJ
Eventual Design Limited
Statement of financial position
as at 30 January 2023
Cash at bank and in hand
14,392
48,978
Creditors: amounts falling due within one year
(16,813)
(42,543)
Net current assets
5,172
48,987
Total assets less current liabilities
5,172
49,017
Provisions for liabilities
Called up share capital
5,101
5,101
Profit and loss account
71
43,910
Shareholders' funds
5,172
49,011
For the year ending 30 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 24 October 2023 and were signed on its behalf by
S I Gibbons
Director
Company Registration No. 05186535
Eventual Design Limited
Notes to the Accounts
for the year ended 30 January 2023
Eventual Design Limited is a private company, limited by shares, registered in England and Wales, registration number 05186535. The registered office is 52 Windermere Road, London, W5 4TD.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the
costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
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:
Fixtures & fittings
25% reducing balance
Computer equipment
33& on cost
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.
Eventual Design Limited
Notes to the Accounts
for the year ended 30 January 2023
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 31 January 2022
400
115
515
At 30 January 2023
400
115
515
At 31 January 2022
370
115
485
Charge for the year
30
-
30
At 30 January 2023
400
115
515
At 30 January 2022
30
-
30
Amounts falling due within one year
Accrued income and prepayments
393
393
Eventual Design Limited
Notes to the Accounts
for the year ended 30 January 2023
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
17,210
26,700
Other creditors
2,287
3,943
Loans from directors
(6,378)
2,969
Allotted, called up and fully paid:
5,101 Ordinary shares of £1 each
5,101
5,101
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Interest free loan
-
6,378
-
6,378
The loan was repaid after the year end.
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).