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Company No: 08035761 (England and Wales)

ECHOBLUE LTD

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

ECHOBLUE LTD

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

ECHOBLUE LTD

BALANCE SHEET

As at 30 April 2024
ECHOBLUE LTD

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 44,696 45,608
44,696 45,608
Current assets
Debtors 4 599,663 323,718
Cash at bank and in hand 723,386 522,433
1,323,049 846,151
Creditors: amounts falling due within one year 5 ( 1,115,723) ( 602,885)
Net current assets 207,326 243,266
Total assets less current liabilities 252,022 288,874
Provision for liabilities ( 11,174) ( 8,665)
Net assets 240,848 280,209
Capital and reserves
Called-up share capital 2 2
Capital redemption reserve 100 100
Profit and loss account 240,746 280,107
Total shareholders' funds 240,848 280,209

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Echoblue Ltd (registered number: 08035761) were approved and authorised for issue by the Board of Directors on 25 September 2024. They were signed on its behalf by:

C Rees
Director
ECHOBLUE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
ECHOBLUE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Echoblue Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Office 1, Suite C Mulberry Court, Stour Road BH23 1PS, Christchurch, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and is recognised as follow:
- New and used profiles are split equally over the period the profile is live
- Banner ads and PR articles are recognised in the month they are live on site
- Strategic partnerships are recognised in the month where the event takes place

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 14 7

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 May 2023 1,534 49,990 3,580 23,876 78,980
Additions 0 0 1,602 10,787 12,389
At 30 April 2024 1,534 49,990 5,182 34,663 91,369
Accumulated depreciation
At 01 May 2023 1,446 17,965 1,511 12,450 33,372
Charge for the financial year 22 8,006 792 4,481 13,301
At 30 April 2024 1,468 25,971 2,303 16,931 46,673
Net book value
At 30 April 2024 66 24,019 2,879 17,732 44,696
At 30 April 2023 88 32,025 2,069 11,426 45,608

4. Debtors

2024 2023
£ £
Trade debtors 161,788 123,552
Corporation tax 0 64,823
Other debtors 437,875 135,343
599,663 323,718

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 23,688 1,668
Taxation and social security 50,527 24,143
Other creditors 1,041,508 577,074
1,115,723 602,885