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REGISTERED NUMBER: 04831677 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Entrepreneurs in Action Limited

Entrepreneurs in Action Limited (Registered number: 04831677)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Entrepreneurs in Action Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: D E Browne





SECRETARY: K Reid





REGISTERED OFFICE: Capital Business Centre
22 Carlton Road
South Croydon
CR2 0BS





REGISTERED NUMBER: 04831677 (England and Wales)





ACCOUNTANTS: Ledger Sparks Limited
Airport House
Suite 43-45
Purley Way
Croydon
CR0 0XZ

Entrepreneurs in Action Limited (Registered number: 04831677)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 231 1,056
Tangible assets 5 761 1,478
992 2,534

CURRENT ASSETS
Debtors 6 43,694 32,849
Cash at bank and in hand 16,181 22,063
59,875 54,912
CREDITORS
Amounts falling due within one year 7 (54,667 ) (47,825 )
NET CURRENT ASSETS 5,208 7,087
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,200

9,621

CREDITORS
Amounts falling due after more than one year 8 (5,702 ) (8,420 )

PROVISIONS FOR LIABILITIES 9 (145 ) (140 )
NET ASSETS 353 1,061

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 10 253 961
353 1,061

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Entrepreneurs in Action Limited (Registered number: 04831677)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 September 2024 and were signed by:





D E Browne - Director


Entrepreneurs in Action Limited (Registered number: 04831677)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Entrepreneurs in Action Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal activity of the company continued to be that of the provision of coaching techniques for enabling young people to understand and explore skills to run a business.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover represents amounts receivable for goods and services net of VAT and trade discounts .

INTANGIBLE ASSETS
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website 33.3% Straight Line Method

TANGIBLE FIXED ASSETS
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment33.3% Straight Line Method
Computer equipment33.3% Straight Line Method

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

FINANCIAL INSTRUMENTS
The company only enters into basic financial transactions that result in recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from bank and other third parties, loans to related parties and investments in non-puttable ordinary shares.


Entrepreneurs in Action Limited (Registered number: 04831677)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
TAXATION
The tax expense represents the sum of the tax currently payable and deferred tax.

CURRENT TAX
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DEFERRED TAX
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date..

GOING CONCERN
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

PROVISIONS FOR LIABILITIES
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the statement of income and retained earning in the year that the company becomes aware of the obligation and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in Balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Website
£   
COST
At 1 January 2023
and 31 December 2023 2,500
AMORTISATION
At 1 January 2023 1,444
Amortisation for year 825
At 31 December 2023 2,269
NET BOOK VALUE
At 31 December 2023 231
At 31 December 2022 1,056

Entrepreneurs in Action Limited (Registered number: 04831677)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 836 9,041 9,877
Disposals (296 ) - (296 )
At 31 December 2023 540 9,041 9,581
DEPRECIATION
At 1 January 2023 714 7,685 8,399
Charge for year - 595 595
Eliminated on disposal (174 ) - (174 )
At 31 December 2023 540 8,280 8,820
NET BOOK VALUE
At 31 December 2023 - 761 761
At 31 December 2022 122 1,356 1,478

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 18,000 -
Amounts owed by associates 8 2,008
Other debtors 25,686 30,841
43,694 32,849

The directors consider the carrying value of trade and other receivables approximate to their fair value.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,975 3,232
Trade creditors 3,504 2,952
Amounts owed to associates 1,084 1,093
Taxation and social security 45,671 39,270
Other creditors 1,433 1,278
54,667 47,825

The directors consider the carrying amounts of current liabilities approximate to their fair values.

Entrepreneurs in Action Limited (Registered number: 04831677)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 5,702 8,420

The directors consider the carrying amounts of long term liabilities approximate to their fair values..

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 145 140

Deferred
tax
£   
Balance at 1 January 2023 140
Provided during year 5
Balance at 31 December 2023 145

10. RESERVES

PROFIT AND LOSS ACCOUNT
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

11. RELATED PARTY DISCLOSURES

At the balance sheet date, included in other debtors are amounts to due from D Browne (director) of £13,809 (2022 - £24,177).This loan is interest free and repayable on demand.

At the balance sheet date, included in amounts owed to associates are amounts due to The Talent Portfolio Ltd of £1,084 (2022 - £1,093).

At the balance sheet date, included in amounts owed by associates are amounts due from Entrepreneurs in Action Foundation Community Interest Co. of £8 (2022 - £2,008).

D E Browne is the managing director and holds 100% of the issued share capital of Entrepreneurs In Action Foundation Community Interest Company and The Talent Portfolio Ltd.