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Registered number: 12911718
EACT GROUP LTD
Unaudited Financial Statements
For The Year Ended 30 September 2023
Caroline Sands & Associates LLP
Chancellor Cottage
46 Holway Road
Sheringham
Norfolk
NR26 8HR
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of EACT GROUP LTD for the year ended 30 September 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of EACT GROUP LTD for the year ended 30 September 2023 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.
This report is made solely to the director of EACT GROUP LTD , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of EACT GROUP LTD and state those matters that we have agreed to state to the director of EACT GROUP LTD , as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than EACT GROUP LTD and its director, as a body, for our work or for this report.
It is your duty to ensure that EACT GROUP LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of EACT GROUP LTD . You consider that EACT GROUP LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of EACT GROUP 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 financial statements.
Signed
Caroline Sands & Associates LLP
22/08/2024
Caroline Sands & Associates LLP
Chancellor Cottage
46 Holway Road
Sheringham
Norfolk
NR26 8HR
Page 1
Page 2
Balance Sheet
Registered number: 12911718
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 39,080 50,080
39,080 50,080
CURRENT ASSETS
Debtors 5 20,734 7,604
Cash at bank and in hand 2,237 3,033
22,971 10,637
Creditors: Amounts Falling Due Within One Year 6 (50,803 ) (40,964 )
NET CURRENT ASSETS (LIABILITIES) (27,832 ) (30,327 )
TOTAL ASSETS LESS CURRENT LIABILITIES 11,248 19,753
Creditors: Amounts Falling Due After More Than One Year 7 (43,809 ) (55,500 )
NET LIABILITIES (32,561 ) (35,747 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (32,562 ) (35,748 )
SHAREHOLDERS' FUNDS (32,561) (35,747)
Page 2
Page 3
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Matthew Olby
Director
22/08/2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
EACT GROUP LTD is a private company, limited by shares, incorporated in England & Wales, registered number 12911718 . The registered office is 46 Holway Road, Sheringham, NR26 8HR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 2)
3 2
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 October 2022 51,991
Additions 1,300
As at 30 September 2023 53,291
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 October 2022 1,911
Provided during the period 12,300
As at 30 September 2023 14,211
Net Book Value
As at 30 September 2023 39,080
As at 1 October 2022 50,080
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 5,399 7,604
Director's loan account 15,335 -
20,734 7,604
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 3,948 3,498
Bank loans and overdrafts 15,628 13,418
VAT 31,227 6,616
Director's loan account - 17,432
50,803 40,964
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 43,809 55,500
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
Page 5