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Registration number: 09901292

E.L. Easy Life UK Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2022

 

E.L. Easy Life UK Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 8

 

E.L. Easy Life UK Limited

(Registration number: 09901292)
Abridged Balance Sheet as at 31 December 2022

Note

2022

2021

Fixed assets

 

Intangible assets

4

-

1,763

Tangible assets

5

-

225

Investments

6

5,328,107

5,328,107

 

5,328,107

5,330,095

Current assets

 

Debtors

356,827

132,601

Cash at bank and in hand

 

2,487

2,836

 

359,314

135,437

Creditors: Amounts falling due within one year

(297,651)

(71,840)

Net current assets

 

61,663

63,597

Total assets less current liabilities

 

5,389,770

5,393,692

Accruals and deferred income

 

-

(2,542)

Net assets

 

5,389,770

5,391,150

Capital and reserves

 

Called up share capital

7

18,277

18,277

Share premium reserve

2,176,403

2,176,403

Retained earnings

3,195,090

3,196,470

Shareholders' funds

 

5,389,770

5,391,150

For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 September 2023
 

 

E.L. Easy Life UK Limited

(Registration number: 09901292)
Abridged Balance Sheet as at 31 December 2022

.........................................
L G M Concone
Director

 

E.L. Easy Life UK Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
5th Floor North Side
7-10 Chandos Street
Cavendish Square
London
W1G 9DQ

These financial statements were authorised for issue by the director on 30 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings & equipment

25% straight line basis

Plant and machinery

25% straight line basis

 

E.L. Easy Life UK Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Development costs

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their expected useful economic lives of 3 years (see amortisation policy).

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Logo,patents and apps

Over the estimated useful life of 3 years

Development costs

Over the estimated useful life of 3 years

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

E.L. Easy Life UK Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors,loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
 Recognition and measurement
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective impairment is found, an impairment loss is recognised in Profit or Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2021 - 0).

 

E.L. Easy Life UK Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

4

Intangible assets

Total

Cost or valuation

At 1 January 2022

387,017

At 31 December 2022

387,017

Amortisation

At 1 January 2022

385,254

Amortisation charge

1,763

At 31 December 2022

387,017

Carrying amount

At 31 December 2022

-

At 31 December 2021

1,763

Individually material intangible assets

Development costs
The carrying amount of this asset is €Nil (2021 -€Nil) and the remaining amortisation period is (2021 - ).

 

E.L. Easy Life UK Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

5

Tangible assets

Fixtures and fittings

Plant and machinery

Total

Cost or valuation

At 1 January 2022

13,762

161,766

175,528

At 31 December 2022

13,762

161,766

175,528

Depreciation

At 1 January 2022

13,550

161,753

175,303

Charge for the year

212

13

225

At 31 December 2022

13,762

161,766

175,528

Carrying amount

At 31 December 2022

-

-

-

At 31 December 2021

212

13

225

6

Investments

Total

Cost or valuation

At 1 January 2022

5,328,107

Provision

Carrying amount

At 31 December 2022

5,328,107

At 31 December 2021

5,328,107

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

 

E.L. Easy Life UK Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2022

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2022

2021

Subsidiary undertakings

Life Care Limited

5 1 Merchants Street,Valletta VLT 1171, Malta

Malta

Ordinary

100%

100%

Easy Life SRL

Piazza Castello, 26 - Milan

Italy

100%

100%

Subsidiary undertakings

Life Care Limited

The principal activity of Life Care Limited is that of a development and sale of a software application, usable by mobile phones, aimed at the safety of people and the management of emergencies in favor of elderly people and children or teenagers.

Easy Life SRL

The principal activity of Easy Life SRL is that of development of software systems, hardware design and production, web site design and call center management aimed at supplying, through applications usable by mobile phones, services aimed at the safety of people and management emergencies in favor of the elderly, children or young people..

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

No.

Ordinary shares of €1 each

18,277

18,277

18,277

18,277