Caseware UK (AP4) 2022.0.179 2022.0.179 2023-10-312023-10-312truefalsefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-06-13Repair of computers and peripheral equipment NI688913 2022-06-12 NI688913 2022-06-13 2023-10-31 NI688913 2021-06-13 2022-06-12 NI688913 2023-10-31 NI688913 c:Director1 2022-06-13 2023-10-31 NI688913 d:CurrentFinancialInstruments 2023-10-31 NI688913 d:Non-currentFinancialInstruments 2023-10-31 NI688913 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 NI688913 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 NI688913 d:ShareCapital 2023-10-31 NI688913 d:RetainedEarningsAccumulatedLosses 2023-10-31 NI688913 c:OrdinaryShareClass1 2022-06-13 2023-10-31 NI688913 c:OrdinaryShareClass1 2023-10-31 NI688913 c:FRS102 2022-06-13 2023-10-31 NI688913 c:AuditExempt-NoAccountantsReport 2022-06-13 2023-10-31 NI688913 c:FullAccounts 2022-06-13 2023-10-31 NI688913 c:PrivateLimitedCompanyLtd 2022-06-13 2023-10-31 NI688913 e:PoundSterling 2022-06-13 2023-10-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: NI688913









28 E-SOLUTIONS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 OCTOBER 2023

 
28 E-SOLUTIONS LTD
REGISTERED NUMBER: NI688913

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023


2023
Note
£
£

  

Current assets
  

Stocks
 4 
42,373

Debtors: amounts falling due within one year
 5 
244,986

Cash at bank and in hand
 6 
19,731

  
307,090

Creditors: amounts falling due within one year
 7 
(416,586)

Net current liabilities
  
 
 
(109,496)

Creditors: amounts falling due after more than one year
 8 
(80,500)

  

Net liabilities
  
(189,996)


Capital and reserves
  

Called up share capital 
 9 
1

Profit and loss account
  
(189,997)

  
(189,996)

Page 1

 
28 E-SOLUTIONS LTD
REGISTERED NUMBER: NI688913
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 March 2024.




I Seth
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
28 E-SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2023

1.


General information

28 E-Solutions Ltd is a company limited by shares, incorporated in Northern Ireland. The address of the registered office is Moat House Unit 835, Business Centre, 54 Bloomfield Ave, Belfast, Northern Ireland, BT5 5AD.
The company was incorporated on 13 June 2022 and commenced trading from same date.
The company specialises in the repair of computers and peripheral equipment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis, notwithstanding the net liabilities of £189,996 at the Statement of financial position date. The director notes that the company is trading adequately and has sufficient working capital and other finance available to continue trading for a period of not less than 12 months from the date of approval of these financial statements. As such, the director believes that there are no significant uncertainties in his assessment of whether the business is a going concern and therefore has prepared the accounts on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Satement of comprehensive income within 'other operating income'.

Page 3

 
28 E-SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue 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 discounts, 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 probable 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.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Satement of comprehensive income on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
28 E-SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including director, during the period was 2.


4.


Stocks

2023
£

Finished goods and goods for resale
42,373

42,373


Page 5

 
28 E-SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2023

5.


Debtors

2023
£


Trade debtors
190,198

Amounts owed by group undertakings
12,428

Other debtors
42,360

244,986



6.


Cash and cash equivalents

2023
£

Cash at bank and in hand
19,731

19,731



7.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
408,055

Amounts owed to related undertakings
1,512

Other taxation and social security
586

Other creditors
3,933

Accruals and deferred income
2,500

416,586



8.


Creditors: Amounts falling due after more than one year

2023
£

Other creditors
80,500

80,500


Page 6

 
28 E-SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2023

9.


Share capital

2023
£
Allotted, called up and fully paid


1 Ordinary share of £1
1


On incorporation, 1 Ordinary share of £1 was issued at par.


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £265. Contributions totalling £233  were payable to the fund at the reporting date and are included in creditors.


11.


Related party transactions

Included within other creditors is an amount due to the director of £500.
Included within amounts owed by group undertakings is an amount of £12,428 due from a company under common control.
Included within amounts owed to related undertakings is an amount of £1,512 due to a company under common control.
Included within other creditors falling due after more then one year is an amount of £80,500 due to a close family member of the director.


12.


Ultimate parent undertaking and controlling party

The immediate and ultimate parent undertaking is 28 Holdings Limited, a company incorporated in England and Wales. 
The ultimate controlling party is the director by virtue of his majority shareholding in the ultimate parent company.

 
Page 7