Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-3112023-02-01falseNo description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08850149 2023-02-01 2024-01-31 08850149 2022-02-01 2023-01-31 08850149 2024-01-31 08850149 2023-01-31 08850149 c:Director1 2023-02-01 2024-01-31 08850149 c:Director1 2024-01-31 08850149 c:Director1 2023-01-31 08850149 d:CurrentFinancialInstruments 2024-01-31 08850149 d:CurrentFinancialInstruments 2023-01-31 08850149 d:Non-currentFinancialInstruments 2024-01-31 08850149 d:Non-currentFinancialInstruments 2023-01-31 08850149 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 08850149 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 08850149 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 08850149 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 08850149 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 08850149 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 08850149 d:ShareCapital 2024-01-31 08850149 d:ShareCapital 2023-01-31 08850149 d:RetainedEarningsAccumulatedLosses 2024-01-31 08850149 d:RetainedEarningsAccumulatedLosses 2023-01-31 08850149 c:FRS102 2023-02-01 2024-01-31 08850149 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 08850149 c:FullAccounts 2023-02-01 2024-01-31 08850149 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08850149 2 2023-02-01 2024-01-31 08850149 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 08850149










EAALS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
EAALS LTD
REGISTERED NUMBER: 08850149

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
146,646
96,576

Cash at bank and in hand
  
111
12,597

  
146,757
109,173

Creditors: amounts falling due within one year
 6 
(137,430)
(99,950)

Net current assets
  
 
 
9,327
 
 
9,223

Total assets less current liabilities
  
9,327
9,223

Creditors: amounts falling due after more than one year
 7 
(5,265)
(9,123)

  

Net assets
  
4,062
100


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
3,962
-

  
4,062
100


Page 1

 
EAALS LTD
REGISTERED NUMBER: 08850149
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Dr Y A Abdulaal Mahmoud
Director

Date: 13 October 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
EAALS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
1.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
1.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Page 3

 
EAALS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies (continued)

 
1.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Page 4

 
EAALS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies (continued)


1.9
Financial instruments (continued)


Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
1.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


2.


General information

EAALS Ltd is a private company, limited by shares, registered in England, registration number 08850149. The registered office is 19 Hollandbury Park, Kings Hill, West Malling, Kent, ME19 4BZ.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

No significant judgements have been made by management in preparing these financial statements


4.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
EAALS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
18,212
9,281

Other debtors
128,434
87,295

146,646
96,576



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
1,827
-

Bank loans
3,829
3,709

Trade creditors
2,962
1,840

Corporation tax
126,312
92,587

Accruals and deferred income
2,500
1,814

137,430
99,950



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
5,265
9,123

5,265
9,123



8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
3,829
3,709


Amounts falling due 2-5 years

Bank loans
5,265
9,123


9,094
12,832


Page 6

 
EAALS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Related party transactions

During the year there were advances made to the director of £138,890 and repayments of £3,790. As at the balance sheet date the director owed the company £107,022 (2023 - £65,883) which is included within other debtors. The balance was repaid within 9 months of the year end.
Interest has been charged on the overdrawn balance at 2.25%.

 
Page 7