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COMPANY REGISTRATION NUMBER: SC470842
Econekt Ltd.
Filleted Unaudited Financial Statements
31 July 2023
Econekt Ltd.
Financial Statements
Year ended 31 July 2023
Contents
Page
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
3
Econekt Ltd.
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Econekt Ltd.
Year ended 31 July 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Econekt Ltd. for the year ended 31 July 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the director of Econekt Ltd.. Our work has been undertaken solely to prepare for your approval the financial statements of Econekt Ltd. and state those matters that we have agreed to state to you in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Econekt Ltd. and its director for our work or for this report.
It is your duty to ensure that Econekt Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Econekt Ltd.. You consider that Econekt Ltd. is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Econekt Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
GILLILAND & COMPANY Chartered Accountants
216 West George Street Glasgow G2 2PQ
24 July 2024
Econekt Ltd.
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
Current assets
Debtors
4
25,100
34,927
Cash at bank and in hand
102
63
--------
--------
25,202
34,990
Creditors: amounts falling due within one year
5
1,620
810
--------
--------
Net current assets
23,582
34,180
--------
--------
Total assets less current liabilities
23,582
34,180
Creditors: amounts falling due after more than one year
6
27,000
36,000
--------
--------
Net liabilities
( 3,418)
( 1,820)
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 3,419)
( 1,821)
-------
-------
Shareholders deficit
( 3,418)
( 1,820)
-------
-------
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 July 2023 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 July 2024 , and are signed on behalf of the board by:
Mr F C Mclachlan
Director
Company registration number: SC470842
Econekt Ltd.
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in SCotland. The address of the registered office is 216 West George Street, Glasgow, G22PQ, Scotland.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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 of value.
4. Debtors
2023
2022
£
£
Other debtors
25,100
34,927
--------
--------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
1,620
810
-------
----
6. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
27,000
36,000
--------
--------
7. Director's advances, credits and guarantees
As at 31 July 2023 Mr F C Mclachlan , director, owed the company £ 9,650 (2022: £7,650).
8. Related party transactions
As at 31 July 2023 the company was owed £9,251 (2022: £11,251) from Ecohaus North Limited, a company in which Mr F C Mclachlan is a director. As at 31 July 2023 the company was also owed £6,199 (2022: £16,026) from Intelligent Building System Ltd, a company in which Mr F C Mclachlan is a director.