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Company No: 05782682 (England and Wales)

EASY MOBILITY (EAST ANGLIAN) LIMITED

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

EASY MOBILITY (EAST ANGLIAN) LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

EASY MOBILITY (EAST ANGLIAN) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2024
EASY MOBILITY (EAST ANGLIAN) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 65,530 72,382
65,530 72,382
Current assets
Stocks 190,741 239,807
Debtors 5 343,052 358,334
Cash at bank and in hand 15,850 ( 44,698)
549,643 553,443
Creditors: amounts falling due within one year 6 ( 245,481) ( 346,833)
Net current assets 304,162 206,610
Total assets less current liabilities 369,692 278,992
Creditors: amounts falling due after more than one year 7 ( 11,369) ( 21,594)
Net assets 358,323 257,398
Capital and reserves
Called-up share capital 100 100
Profit and loss account 358,223 257,298
Total shareholder's funds 358,323 257,398

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.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Easy Mobility (East Anglian) Limited (registered number: 05782682) were approved and authorised for issue by the Director. They were signed on its behalf by:

P Vicary
Director

30 January 2025

EASY MOBILITY (EAST ANGLIAN) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
EASY MOBILITY (EAST ANGLIAN) LIMITED

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

Easy Mobility (East Anglian) Limited (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 1 Claydon Business Park, Great Blakenham, Ipswich, IP6 0NL, United Kingdom. The principal place of business is 57 - 59 Jeffreys Road, Cressing, Braintree, CM77 8JQ.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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 Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
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 straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 15 years straight line
Leasehold improvements 10 years straight line
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 3 years straight line

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Income Statement over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

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. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 22 22

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 May 2023 39,800 39,800
At 30 April 2024 39,800 39,800
Accumulated amortisation
At 01 May 2023 39,800 39,800
At 30 April 2024 39,800 39,800
Net book value
At 30 April 2024 0 0
At 30 April 2023 0 0

4. Tangible assets

Land and buildings Leasehold improve-
ments
Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £ £
Cost
At 01 May 2023 65,035 24,759 8,559 21,460 8,712 128,525
Additions 0 0 0 3,880 0 3,880
At 30 April 2024 65,035 24,759 8,559 25,340 8,712 132,405
Accumulated depreciation
At 01 May 2023 23,116 6,819 892 17,917 7,399 56,143
Charge for the financial year 4,335 2,475 1,916 979 1,027 10,732
At 30 April 2024 27,451 9,294 2,808 18,896 8,426 66,875
Net book value
At 30 April 2024 37,584 15,465 5,751 6,444 286 65,530
At 30 April 2023 41,919 17,940 7,667 3,543 1,313 72,382

5. Debtors

2024 2023
£ £
Trade debtors 39,464 72,241
Amounts owed by director 187,241 191,027
VAT recoverable 70,079 48,798
S455 39,752 39,752
Other debtors 6,516 6,516
343,052 358,334

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,225 9,973
Trade creditors 161,386 298,774
Accruals 5,500 5,145
Taxation and social security 64,823 16,488
Other creditors 3,547 16,453
245,481 346,833

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 11,369 21,594

There are no amounts included above in respect of which any security has been given by the small entity.

8. Related party transactions

Transactions with the entity's director

The director had a loan during the year. The total amount drawn on the loan during the year was £62,758 and amounts repaid during the year end totalled £70,969. At the year end £187,241 was owed to the company (2023: £191,027). The maximum balance outstanding during the year was £219,077. Interest amounting to £4,424 (2023: £3,957) was charged during the year.