Easy Claim Collections Ltd

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1 EASY CLAIMS COLLECTION LTD Financial Accounts Registration number: Unaudited Abbreviated Accounts for the Period from 29 January 2014 to 31 January Wilds Ltd Chartered Accountants Lancaster House Blackburn Street Radcliffe Manchester M26 2JW

2 EASY CLAIMS COLLECTION LTD Financial Accounts Contents Abbreviated Balance Sheet 1 Notes to the Abbreviated Accounts 2 to 3

3 EASY CLAIMS COLLECTION LTD Financial Accounts (Registration number: ) Abbreviated Balance Sheet at 31 January Fixed assets Note 31 January Tangible fixed assets 2 5,011 Current assets Debtors 64,584 Cash at bank and in hand 121, ,718 Creditors: Amounts falling due within one year (87,752) Net current assets 97,966 Net assets 102,977 Capital and reserves Profit and loss account 102,977 Shareholders' funds 102,977 For the year ending 31 January the company was entitled to exemption 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 The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). Approved by the Board on 2 June and signed on its behalf by:... Mr A Tarrant Director... Mr P Badcock Director The notes on pages 2 to 3 form an integral part of these financial statements. Page 1

4 EASY CLAIMS COLLECTION LTD Financial Accounts Notes to the Abbreviated Accounts for the Period from 29 January 2014 to 31 January... continued 1 Accounting policies Basis of preparation The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008). Going concern The directors consider that the use of the going concern basis of accounting is appropriate because there are no material uncertainties relating to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. Turnover Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. Depreciation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Asset class Office equipment Depreciation method and rate 25% straight line Hire purchase and leasing Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Financial instruments Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account. Page 2

5 EASY CLAIMS COLLECTION LTD Financial Accounts Notes to the Abbreviated Accounts for the Period from 29 January 2014 to 31 January... continued 2 Fixed assets Cost Tangible assets Additions 6,682 6,682 At 31 January 6,682 6,682 Depreciation Charge for the period 1,671 1,671 At 31 January 1,671 1,671 Net book value At 31 January 5,011 5,011 Total 3 Share capital Allotted, called up and fully paid shares 31 January No. Ordinary shares of 1 each New shares allotted During the period 400 Ordinary shares having an aggregate nominal value of 1 were allotted for an aggregate consideration of 1. The shares issued are that of subscriber shares. Page 3

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