E.I.S Trading Ltd SC653477 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is property letting & maintenance & vehicle maintenance Digita Accounts Production Advanced 6.30.9574.0 true SC653477 2023-03-01 2024-02-29 SC653477 2024-02-29 SC653477 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-02-29 SC653477 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 SC653477 core:Non-currentFinancialInstruments 2024-02-29 SC653477 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 SC653477 core:LandBuildings 2024-02-29 SC653477 core:MotorVehicles 2024-02-29 SC653477 bus:SmallEntities 2023-03-01 2024-02-29 SC653477 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 SC653477 bus:FullAccounts 2023-03-01 2024-02-29 SC653477 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 SC653477 bus:RegisteredOffice 2023-03-01 2024-02-29 SC653477 bus:Director1 2023-03-01 2024-02-29 SC653477 bus:Director2 2023-03-01 2024-02-29 SC653477 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-03-01 2024-02-29 SC653477 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC653477 core:LandBuildings 2023-03-01 2024-02-29 SC653477 core:MotorVehicles 2023-03-01 2024-02-29 SC653477 countries:Scotland 2023-03-01 2024-02-29 SC653477 2023-02-28 SC653477 core:LandBuildings 2023-02-28 SC653477 core:MotorVehicles 2023-02-28 SC653477 2022-03-01 2023-02-28 SC653477 2023-02-28 SC653477 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-02-28 SC653477 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 SC653477 core:Non-currentFinancialInstruments 2023-02-28 SC653477 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 SC653477 core:LandBuildings 2023-02-28 SC653477 core:MotorVehicles 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC653477

E.I.S Trading Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

E.I.S Trading Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

E.I.S Trading Ltd

Company Information

Directors

Mrs Amanda Simpson

Mr Darren Simpson

Registered office

24 Shelley Drive
Bothwell
G71 8TA

Accountants

Clyde Business Services
159 King Street
Glasgow
Lanarkshire
G73 1BZ

 

E.I.S Trading Ltd

(Registration number: SC653477)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

199,700

161,976

Current assets

 

Cash at bank and in hand

 

6,387

41,577

Creditors: Amounts falling due within one year

6

(59,346)

(62,138)

Net current liabilities

 

(52,959)

(20,561)

Total assets less current liabilities

 

146,741

141,415

Creditors: Amounts falling due after more than one year

6

(130,197)

(130,197)

Net assets

 

16,544

11,218

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

16,542

11,216

Shareholders' funds

 

16,544

11,218

For the financial year ending 29 February 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 14 August 2024 and signed on its behalf by:
 

.........................................
Mrs Amanda Simpson
Director

 

E.I.S Trading Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
24 Shelley Drive
Bothwell
G71 8TA

These financial statements were authorised for issue by the Board on 14 August 2024.

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.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

E.I.S Trading Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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

Property

no depreciation

Vans

20% reducing balance

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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).

 

E.I.S Trading Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

152,000

10,320

162,320

Additions

47,700

-

47,700

Disposals

-

(10,320)

(10,320)

At 29 February 2024

199,700

-

199,700

Depreciation

At 1 March 2023

-

344

344

Charge for the year

-

1,995

1,995

Eliminated on disposal

-

(2,339)

(2,339)

At 29 February 2024

-

-

-

Carrying amount

At 29 February 2024

199,700

-

199,700

At 28 February 2023

152,000

9,976

161,976

Included within the net book value of land and buildings above is £199,700 (2023 - £152,000) in respect of freehold land and buildings.
 

 

E.I.S Trading Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

5

Debtors

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

2,772

-

Other creditors

56,574

62,138

59,346

62,138

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

130,197

130,197

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

130,197

130,197