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Registration number: 08448955

EULS Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

EULS Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

EULS Ltd

(Registration number: 08448955)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Stocks

5

453,834

443,707

Debtors

6

391

18

Cash at bank and in hand

 

432

12,936

 

454,657

456,661

Creditors: Amounts falling due within one year

7

(376,825)

(377,161)

Net assets

 

77,832

79,500

Capital and reserves

 

Called up share capital

100

100

Retained earnings

77,732

79,400

Shareholders' funds

 

77,832

79,500

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 4 October 2024 and signed on its behalf by:
 

.........................................
Mrs Fiona Jackson
Director

 

EULS Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

25% straight line

 

EULS Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

EULS Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

708

708

At 31 March 2024

708

708

Depreciation

At 1 April 2023

708

708

At 31 March 2024

708

708

Carrying amount

At 31 March 2024

-

-

5

Stocks

2024
£

2023
£

Work in progress

6,669

6,669

Other inventories

447,165

437,038

453,834

443,707

6

Debtors

Current

2024
£

2023
£

Other debtors

391

18

 

391

18

7

Creditors

Creditors: amounts falling due within one year

 

EULS Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2024
£

2023
£

Due within one year

Taxation and social security

242

3,891

Other creditors

376,583

373,270

376,825

377,161

 

EULS Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Related party transactions

Summary of transactions with other related parties

At the balance sheet date the amount due to F Jackson and T Jackson (directors) is £375,584 (2023: £372,272) which is included in other creditors.