Registered number
SC128521
Ekobay Limited
Filleted Accounts
31 January 2024
Ekobay Limited
Registered number: SC128521
Balance Sheet
as at 31 January 2024
Notes 2024 2022
£ £
Fixed assets
Intangible assets 3 393 491
Tangible assets 4 100,223 105,925
100,616 106,416
Current assets
Stocks 18,000 22,000
Debtors 5 1,629 6,643
Cash at bank and in hand 7,634 2,842
27,263 31,485
Creditors: amounts falling due within one year 6 (65,165) (59,045)
Net current liabilities (37,902) (27,560)
Total assets less current liabilities 62,714 78,856
Creditors: amounts falling due after more than one year 7 (89,052) (95,193)
Net liabilities (26,338) (16,337)
Capital and reserves
Called up share capital 23,004 23,004
Profit and loss account (49,342) (39,341)
Shareholders' funds (26,338) (16,337)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Miss J M Boultbee
Director
Approved by the board on 23 August 2024
Ekobay Limited
Notes to the Accounts
for the period from 1 January 2023 to 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery 25% Reducing Balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2022
Number Number
Average number of persons employed by the company 10 12
3 Intangible fixed assets £
Computer Software:
Cost
At 1 January 2023 1,622
At 31 January 2024 1,622
Amortisation
At 1 January 2023 1,131
Provided during the period 98
At 31 January 2024 1,229
Net book value
At 31 January 2024 393
At 31 December 2022 491
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 130,967 53,412 184,379
At 31 January 2024 130,967 53,412 184,379
Depreciation
At 1 January 2023 41,060 37,394 78,454
Charge for the period 2,498 3,204 5,702
At 31 January 2024 43,558 40,598 84,156
Net book value
At 31 January 2024 87,409 12,814 100,223
At 31 December 2022 89,907 16,018 105,925
5 Debtors 2024 2022
£ £
Trade debtors 1,629 3,852
Other debtors - 2,791
1,629 6,643
6 Creditors: amounts falling due within one year 2024 2022
£ £
Bank loans and overdrafts 9,430 3,420
Trade creditors 45,107 50,633
Taxation and social security costs 4,618 3,492
Other creditors 6,010 1,500
65,165 59,045
7 Creditors: amounts falling due after one year 2024 2022
£ £
Bank loans - 7,945
Other creditors 89,052 87,248
89,052 95,193
8 Other information
Ekobay Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
91/92 Findhorn
Findhorn
Forres
Moray
IV36 3YG
Ekobay Limited SC128521 false 2023-01-01 2024-01-31 2024-01-31 VT Final Accounts April 2024 Miss J M Boultbee No description of principal activity SC128521 2022-01-01 2022-12-31 SC128521 core:WithinOneYear 2022-12-31 SC128521 core:AfterOneYear 2022-12-31 SC128521 core:ShareCapital 2022-12-31 SC128521 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC128521 2023-01-01 2024-01-31 SC128521 bus:PrivateLimitedCompanyLtd 2023-01-01 2024-01-31 SC128521 bus:AuditExemptWithAccountantsReport 2023-01-01 2024-01-31 SC128521 bus:Director40 2023-01-01 2024-01-31 SC128521 1 2023-01-01 2024-01-31 SC128521 2 2023-01-01 2024-01-31 SC128521 core:Goodwill 2023-01-01 2024-01-31 SC128521 core:LandBuildings 2023-01-01 2024-01-31 SC128521 core:PlantMachinery 2023-01-01 2024-01-31 SC128521 countries:England 2023-01-01 2024-01-31 SC128521 bus:FRS102 2023-01-01 2024-01-31 SC128521 bus:FilletedAccounts 2023-01-01 2024-01-31 SC128521 2024-01-31 SC128521 core:WithinOneYear 2024-01-31 SC128521 core:AfterOneYear 2024-01-31 SC128521 core:ShareCapital 2024-01-31 SC128521 core:RetainedEarningsAccumulatedLosses 2024-01-31 SC128521 core:Goodwill 2024-01-31 SC128521 core:LandBuildings 2024-01-31 SC128521 core:PlantMachinery 2024-01-31 SC128521 2022-12-31 SC128521 core:Goodwill 2022-12-31 SC128521 core:LandBuildings 2022-12-31 SC128521 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure