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Registered number: 05532959
Easebank Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Astar Business Advisors Limited
ACCA
The Grange
1 Central Road
Morden
SM4 5PQ
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountants' Report
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the director in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the director the financial statements that we have been engaged to compile, to report to the director that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's director for our work or for this report.
You have acknowledged on the balance sheet as at year ended 30 November 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. 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
19/08/2024
Astar Business Advisors Limited
ACCA
The Grange
1 Central Road
Morden
SM4 5PQ
Page 1
Page 2
Balance Sheet
Registered number: 05532959
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,000,000 1,000,000
1,000,000 1,000,000
CURRENT ASSETS
Cash at bank and in hand 22,084 31,139
22,084 31,139
Creditors: Amounts Falling Due Within One Year 5 (364,003 ) (377,705 )
NET CURRENT ASSETS (LIABILITIES) (341,919 ) (346,566 )
TOTAL ASSETS LESS CURRENT LIABILITIES 658,081 653,434
Creditors: Amounts Falling Due After More Than One Year 6 (495,962 ) (505,962 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (49,956 ) (49,956 )
NET ASSETS 112,163 97,516
CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Profit and Loss Account 111,163 96,516
SHAREHOLDERS' FUNDS 112,163 97,516
Page 2
Page 3
For the year ending 30 November 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. Mohammad Musadaq
Director
19/08/2024
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
Easebank Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05532959 . The registered office is 1 Central Road, Morden, Surrey , SM4 5PQ.
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:
Freehold Nil
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 December 2022 1,000,000
As at 30 November 2023 1,000,000
Net Book Value
As at 30 November 2023 1,000,000
As at 1 December 2022 1,000,000
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1 -
Other creditors 364,002 377,705
364,003 377,705
Page 4
Page 5
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Family loans 495,962 505,962
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 5