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Registration number: 08778304

Epraise Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Epraise Limited
Contents

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2 to 3

 

Epraise Limited
(Registration number: 08778304)
Abbreviated Balance Sheet at 31 December 2015

   

Note

   

31 December 2015
£

   

31 December 2014
£

 

Fixed assets

 

             

Intangible fixed assets

 

   

60,000

   

80,000

 

Tangible fixed assets

 

   

4,302

   

3,823

 
   

   

64,302

   

83,823

 

Current assets

 

             

Debtors

 

   

7,219

   

10,593

 

Cash at bank and in hand

 

   

15,799

   

16,539

 
   

   

23,018

   

27,132

 

Creditors: Amounts falling due within one year

 

   

(69,533)

   

(85,956)

 

Net current liabilities

 

   

(46,515)

   

(58,824)

 

Total assets less current liabilities

 

   

17,787

   

24,999

 

Provisions for liabilities

 

   

(861)

   

(765)

 

Net assets

 

   

16,926

   

24,234

 

Capital and reserves

 

             

Called up share capital

 

3

   

1

   

1

 

Profit and loss account

 

   

16,925

   

24,233

 

Shareholders' funds

 

   

16,926

   

24,234

 

For the year ending 31 December 2015 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.

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 2015).

Approved by the director on 24 June 2016

Mr B Dunford
 
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

 

Epraise Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... 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 January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if event or changes in circumstances indicate that hte carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 5 years

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

Depreciation method and rate

Fixtures and fittings

25% straight line basis

Office equipment

33.3% straight line basis

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

 

Epraise Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2

Fixed assets

   

Intangible assets
£

   

Tangible assets
£

   

Total
£

 

Cost

                 

At 1 January 2015

 

100,000

   

5,686

   

105,686

 

Additions

 

-

   

2,759

   

2,759

 

At 31 December 2015

 

100,000

   

8,445

   

108,445

 

Depreciation

                 

At 1 January 2015

 

20,000

   

1,863

   

21,863

 

Charge for the year

 

20,000

   

2,280

   

22,280

 

At 31 December 2015

 

40,000

   

4,143

   

44,143

 

Net book value

                 

At 31 December 2015

 

60,000

   

4,302

   

64,302

 

At 31 December 2014

 

80,000

   

3,823

   

83,823

 

3

Share capital

Allotted, called up and fully paid shares

 

31 December 2015

31 December 2014

   

No.

   

£

   

No.

   

£

 

Ordinary share of £1 each

 

1

   

1

   

1

   

1