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Registered Number: 05110310
England and Wales

 

 

 

THE EXECUTIVE FOLIO COMPANY LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2022

End date: 30 April 2023
Director Christine Elizabeth Braid
Registered Number 05110310
Registered Office The Offices 57 Newtown Road
Brighton
East Sussex
England
BN3 7BA
Accountants Worth Knowing Accountants Ltd
7 Bell Yard
London
WC2A 2JR
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 30 April 2023
Principal activities
Principal activity of the company during the financial was of Advertising agencies.
Directors
The directors who served the company throughout the year were as follows:
Paul Francis Alexander Dolley
Christine Elizabeth Braid
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Paul Francis Alexander Dolley
Director

Date approved: 31 January 2024
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 April 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Worth Knowing Accountants Ltd
30 April 2023



....................................................
Worth Knowing Accountants Ltd
7 Bell Yard
London
WC2A 2JR
31 January 2024
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 4,951    226 
4,951    226 
Current assets      
Debtors 4 162,406    49,268 
Cash at bank and in hand 982    126,302 
163,388    175,570 
Creditors: amount falling due within one year 5 (135,557)   (124,855)
Net current assets 27,831    50,715 
 
Total assets less current liabilities 32,782    50,941 
Creditors: amount falling due after more than one year 6 (37,870)   (50,340)
Provisions for liabilities 7   (43)
Net liabilities (5,088)   558 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account (5,188)   458 
Shareholder's funds (5,088)   558 
 


For the year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 31 January 2024 and were signed on its behalf by:


-------------------------------
Paul Francis Alexander Dolley
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 May 2021 100  25,099  25,199 
Profit for the year 31,359  31,359 
Total comprehensive income for the year 31,359  31,359 
Dividends (56,000) (56,000)
Total investments by and distributions to owners (56,000) (56,000)
At 30 April 2022 100  458  558 
At 01 May 2022 100  458  558 
Profit for the year 13,354  13,354 
Total comprehensive income for the year 13,354  13,354 
Dividends (19,000) (19,000)
Total investments by and distributions to owners (19,000) (19,000)
At 30 April 2023 100  (5,188) (5,088)
5
General Information
The Executive Folio Company Limited is a private company, limited by shares, registered in England and Wales, registration number 05110310, registration address The Offices 57 Newtown Road, Brighton, East Sussex, England, BN3 7BA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 33 % Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 May 2022 21,997    10,551    32,548 
Additions 2,410    2,491    4,901 
Disposals    
At 30 April 2023 24,407    13,042    37,449 
Depreciation
At 01 May 2022 21,771    10,551    32,322 
Charge for year 57    119    176 
On disposals    
At 30 April 2023 21,828    10,670    32,498 
Net book values
Closing balance as at 30 April 2023 2,579    2,372    4,951 
Opening balance as at 01 May 2022 226      226 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 67,552    26,664 
Prepayments & Accrued Income 17,500   
PAYE & Social Security 835   
Directors' Current Accounts 76,519    22,604 
162,406    49,268 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 35,706    33,081 
Bank Loans & Overdrafts 10,000   
Corporation Tax 37,477    32,686 
PAYE & Social Security   162 
Accrued Expenses 750    750 
Bills of Exchange Payable   207 
VAT 51,624    57,969 
135,557    124,855 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 37,870    50,340 
37,870    50,340 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax   43 
  43 

6