Company Registration No. 07344876 (England and Wales)
Eintech Ltd
Unaudited accounts
for the year ended 31 December 2024
Eintech Ltd
Unaudited accounts
Contents
Eintech Ltd
Company Information
for the year ended 31 December 2024
Directors
D. Murrell
J. P. T. Carter
M. A. R. Carpenter
C. Alexander
Company Number
07344876 (England and Wales)
Registered Office
80-90
Paul Street
London
EC2A 4NE
England
Accountants
Bromley Consultancy Ltd trading as Bromley Accounting
8 Lilah Mews
Bromley
Kent
BR2 0BZ
Eintech Ltd
Statement of financial position
as at 31 December 2024
Intangible assets
1,958,846
1,819,190
Tangible assets
12,508
20,050
Cash at bank and in hand
663,872
1,173,267
Creditors: amounts falling due within one year
(256,068)
(226,942)
Net current assets
720,564
1,196,075
Total assets less current liabilities
2,691,918
3,035,315
Provisions for liabilities
Deferred tax
(374,557)
(322,233)
Net assets
2,317,361
2,713,082
Called up share capital
2
2
Share premium
2,999,999
2,999,999
Profit and loss account
(682,640)
(286,919)
Shareholders' funds
2,317,361
2,713,082
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by
J. P. T. Carter
Director
Company Registration No. 07344876
Eintech Ltd
Notes to the Accounts
for the year ended 31 December 2024
Eintech Ltd is a private company, limited by shares, registered in England and Wales, registration number 07344876. The registered office is 80-90, Paul Street, London, EC2A 4NE, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
In carrying out their duties in respect of going concern, the directors have carried out a review of the Company's financial position and cash flow forecast for a period of 12 months from the date of signing these financial statements. These have been based on a comprehensive review of revenue, expenditure and cash flows, taking into account the uncertainties brought about by the current economic environment.
Based on their assessment of the Company's financial position, the directors have a reasonable expectation that the Company will be able to continue in operational existence for the foreseeable future and the going concern basis of accounting has been adopted when preparing the financial statements.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Intangible fixed assets (including purchased goodwill, patents and computer software development costs) are included at cost less accumulated amortisation.
Computer software development costs are capitalised once a detailed program design has been established and are amortised on a straight line basis over 4 to 5 years.
Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Eintech Ltd
Notes to the Accounts
for the year ended 31 December 2024
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
4 years straight line
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Expenditure on research activities is recognised in the profit and loss account as an expense as incurred.
Expenditure on development activities may be capitalised if the product or process is technically and commercially feasible and the Company intends and has the technical ability and sufficient resources to complete development, future economic benefits are probable and if the Company can measure reliably the expenditure attributable to the intangible asset during its development. Development activities involve design for, construction or testing of the production of new or substantially improved products or processes. The expenditure capitalised includes the cost of materials, direct labour and an appropriate proportion of overheads. Other development expenditure is recognised in the profit and loss account as an expense as incurred. Capitalised development expenditure is stated at cost less accumulated amortisation and less accumulated impairment losses.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
The Company only enters into basic financial instrument transactions, which includes cash held at the bank, trade debtors and trade creditors. These are initially measured at the transaction cost and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year and financial liabilities classified as payable within one year are not amortised.
Financial assets are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is provided on timing differences that have arisen but not reversed by the balance sheet date, where the timing differences result in an obligation to pay more tax, or a right to pay less tax, in the future. Timing differences arise because of differences between the treatment of certain items for accounting and taxation purposes.
Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax is measured at the tax rates that are expected to apply in the period when the timing differences are expected to reverse, based on tax rates and law enacted or substantively enacted by the balance sheet date. Deferred tax assets and liabilities are not discounted. Where law or accounting standards require gains and losses to be recognised in the statement of total recognised gains and losses, the related taxation is also taken to the Statement of Comprehensive Income in due course.
Eintech Ltd
Notes to the Accounts
for the year ended 31 December 2024
4
Intangible fixed assets
Total
At 1 January 2024
2,388,601
At 31 December 2024
3,065,486
Charge for the year
537,229
At 31 December 2024
1,106,640
At 31 December 2024
1,958,846
At 31 December 2023
1,819,190
5
Tangible fixed assets
Total
At 31 December 2024
57,818
At 31 December 2024
45,310
At 31 December 2024
12,508
At 31 December 2023
20,050
Allotted, called up and fully paid:
1,600 Ordinary shares of £0.001 each
1.60
1.60
The pension payments outstanding at the year ended 31 December 2024 amounted to £9,721 (2023 - £14,483).
8
Operating lease commitments
2024
2023
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
15,690
38,965
Eintech Ltd
Notes to the Accounts
for the year ended 31 December 2024
9
Average number of employees
During the year the average number of employees was 18 (2023: 20).