ERGO SUM AGENCY LIMITED |
Notes to the Accounts |
for the year ended 31 March 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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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). |
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Tangible fixed assets |
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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: |
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Plant and machinery |
over 5 years |
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Fixtures, fittings, tools and equipment |
over 5 years |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
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3 |
Tangible fixed assets |
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Plant and machinery etc |
£ |
|
Cost |
|
At 1 April 2022 |
2,638 |
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At 31 March 2023 |
2,638 |
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Depreciation |
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At 1 April 2022 |
1,747 |
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Charge for the year |
178 |
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At 31 March 2023 |
1,925 |
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Net book value |
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At 31 March 2023 |
713 |
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At 31 March 2022 |
891 |
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4 |
Debtors |
2023 |
|
2022 |
£ |
£ |
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Trade debtors |
- |
|
2,587 |
|
Corporation tax recoverable |
|
|
|
|
482 |
|
- |
|
Other debtors |
294 |
|
- |
|
|
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|
|
|
776 |
|
2,587 |
|
|
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5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
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Directors' Loan Account |
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|
|
|
25,266 |
|
23,706 |
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Other creditors |
815 |
|
600 |
|
|
|
|
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|
26,081 |
|
24,306 |
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6 |
Other information |
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ERGO SUM AGENCY LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
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197a Upper Chorlton Road |
|
Manchester |
|
M16 0BH |