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Registered Number: 13893838
England and Wales

 

 

 


Abridged Accounts

for the year ended 29 February 2024

for

EZ GAINS LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 8,842   
Tangible fixed assets 4 5,931    7,772 
Investments 5 200   
14,973    7,772 
Current assets      
Stocks 7,124    6,358 
Debtors 5,912    6,211 
Cash at bank and in hand 3,030    393 
16,066    12,962 
Creditors: amount falling due within one year (8,293)   (12,576)
Net current assets 7,773    386 
 
Total assets less current liabilities 22,746    8,158 
Net assets 22,746    8,158 
 

Capital and reserves
     
Called up share capital 6 100    10 
Profit and loss account 22,646    8,148 
Shareholders' funds 22,746    8,158 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 02 October 2024 and were signed on its behalf by:


-------------------------------
Clinton James Butcher
Director
1
General Information
EZ GAINS LTD is a private company, limited by shares, registered in England and Wales, registration number 13893838, registration address 1a Pembroke Avenue, Waterbeach, Cambridgeshire , CB25 9QP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Licences and patents
Licences and patents are stated at cost less amortisation. Amortisation of licences is calculated on a straight line basis over the life of the licence. Amortisation of patents is calculated on a straight line basis over the estimated expected useful economic life of the patents of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 20% Straight Line
Computer Equipment 33% Straight Line
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Intangible fixed assets

Cost Patents   Total
  £   £
At 01 March 2023  
Additions 8,842    8,842 
Disposals  
At 29 February 2024 8,842    8,842 
Amortisation
At 01 March 2023  
Charge for year  
On disposals  
At 29 February 2024  
Net book values
At 29 February 2024 8,842    8,842 
At 28 February 2023  


4.

Tangible fixed assets

Cost or valuation Motor Vehicles   Computer Equipment   Total
  £   £   £
At 01 March 2023 8,100    665    8,765 
Additions    
Disposals    
At 29 February 2024 8,100    665    8,765 
Depreciation
At 01 March 2023 810    183    993 
Charge for year 1,620    221    1,841 
On disposals    
At 29 February 2024 2,430    404    2,834 
Net book values
Closing balance as at 29 February 2024 5,670    261    5,931 
Opening balance as at 01 March 2023 7,290    482    7,772 


5.

Investments

Cost Loans to participating interests   Total
  £   £
At 01 March 2023  
Additions 200    200 
Transfer to/from tangible fixed assets  
Disposals  
At 29 February 2024 200    200 

6.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    10 
100    10 

2