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COMPANY REGISTRATION NUMBER: 06348482
EGG IT LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 August 2023
EGG IT LTD
STATEMENT OF FINANCIAL POSITION
31 August 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
1,028
CURRENT ASSETS
Debtors
6
1,553
11,729
Cash at bank and in hand
2,837
12,054
-------
--------
4,390
23,783
CREDITORS: amounts falling due within one year
7
1,507
4,737
-------
--------
NET CURRENT ASSETS
2,883
19,046
-------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
2,883
20,074
-------
--------
NET ASSETS
2,883
20,074
-------
--------
CAPITAL AND RESERVES
Called up share capital fully paid
100
100
Profit and loss account
2,783
19,974
-------
--------
SHAREHOLDERS FUNDS
2,883
20,074
-------
--------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
EGG IT LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 18 January 2024 , and are signed on behalf of the board by:
Mr P A Eggleton Director
Company registration number: 06348482
EGG IT LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 70 Old Gorse Way, Mawsley, Kettering, Northamptonshire, NN14 1GJ, United Kingdom.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Office equipment
-
25% reducing balance and 33 1/3% straight line
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. TANGIBLE ASSETS
Plant and machinery
Office Equipment
Total
£
£
£
Cost
At 1 September 2022
10,298
7,375
17,673
Disposals
( 10,298)
( 7,375)
( 17,673)
--------
-------
--------
At 31 August 2023
--------
-------
--------
Depreciation
At 1 September 2022
10,112
6,533
16,645
Disposals
( 10,112)
( 6,533)
( 16,645)
--------
-------
--------
At 31 August 2023
--------
-------
--------
Carrying amount
At 31 August 2023
--------
-------
--------
At 31 August 2022
186
842
1,028
--------
-------
--------
6. DEBTORS
2023
2022
£
£
Trade debtors
4,552
Other debtors
1,553
7,177
-------
--------
1,553
11,729
-------
--------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,315
Corporation tax
1,095
Social security and other taxes
1,119
Other creditors
1,507
1,208
-------
-------
1,507
4,737
-------
-------
8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr P A Eggleton
7,177
4,529
( 11,944)
( 238)
-------
-------
--------
----
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr P A Eggleton
5,689
10,964
( 9,476)
7,177
-------
--------
-------
-------