Registered number
08539418
Eddyline Ventures Ltd
Filleted Accounts
31 May 2024
Eddyline Ventures Ltd
Registered number: 08539418
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 22,981 18,173
Cash at bank and in hand 439 351
23,420 18,524
Creditors: amounts falling due within one year 4 (19,138) (9,864)
Net current assets 4,282 8,660
Total assets less current liabilities 4,282 8,660
Creditors: amounts falling due after more than one year 5 (4,317) (8,017)
Net (liabilities)/assets (35) 643
Capital and reserves
Called up share capital 2 2
Profit and loss account (37) 641
Shareholders' funds (35) 643
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Alasdair Pettigrew
Director
Approved by the board on 17 June 2024
Eddyline Ventures Ltd
Statement of Changes in Equity
for the year ended 31 May 2024
Share Profit Total
capital and loss
account
£ £ £
At 1 June 2022 2 246 248
Profit for the financial year 8,695 8,695
Dividends (8,300) (8,300)
At 31 May 2023 2 641 643
At 1 June 2023 2 641 643
Profit for the financial year 40,622 40,622
Dividends (41,300) (41,300)
At 31 May 2024 2 (37) (35)
Eddyline Ventures Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised when invoiced.
Going concern
The company is reliant upon the continuing support of Mr & Mrs Pettigrew who are the directors and shareholders of the company. Mr & Mrs Pettigrew have indicated that they intend to support the company on an ongoing basis. The going concern basis of accounting has therefore been adopted.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Debtors 2024 2023
£ £
Trade debtors - 14,100
Other debtors 22,981 4,073
22,981 18,173
Included in other debtors is £16,400 (2023: £nil) due from directors as disclosed in note 6.
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,700 3,700
Taxation and social security costs 15,438 6,164
19,138 9,864
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 4,317 8,017
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Alasdair Pettigrew
Unsecured, interest-free repayable on demand - 8,200 - 8,200
Annegret Pettigrew
Unsecured, interest-free repayable on demand - 8,200 - 8,200
- 16,400 - 16,400
7 Other information
Eddyline Ventures Ltd is a private company limited by shares and incorporated in England. Its registered office is:
13 Ray Mill Road East
Maidenhead
Berkshire
SL6 8SW
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