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Unaudited Financial Statements for the Year Ended 30 April 2020 |
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Engine Creative Consultants Ltd |
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Unaudited Financial Statements for the Year Ended 30 April 2020 |
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for |
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Engine Creative Consultants Ltd |
Engine Creative Consultants Ltd (Registered number: 04395017) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2020 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Engine Creative Consultants Ltd |
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Company Information |
for the Year Ended 30 April 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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Engine Creative Consultants Ltd (Registered number: 04395017) |
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Abridged Balance Sheet |
30 April 2020 |
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30.4.20 | 30.4.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Prepayments and accrued income |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Engine Creative Consultants Ltd (Registered number: 04395017) |
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Abridged Balance Sheet - continued |
30 April 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Engine Creative Consultants Ltd (Registered number: 04395017) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2020 |
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1. | STATUTORY INFORMATION |
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Engine Creative Consultants Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Government grants |
Grants relating to revenue are recognised on a systematic basis over the period in which the company recognises the related costs for which the grant is intended to compensate. |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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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. |
Engine Creative Consultants Ltd (Registered number: 04395017) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
The company makes employer contributions into a money purchase pension scheme for the benefit of the directors. Contributions are charged to the profit and loss account as they become payable. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1 May 2019 |
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Additions |
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Disposals | ( |
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At 30 April 2020 |
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DEPRECIATION |
At 1 May 2019 |
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Charge for year |
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At 30 April 2020 |
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NET BOOK VALUE |
At 30 April 2020 |
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At 30 April 2019 |
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5. | OTHER FINANCIAL COMMITMENTS |
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At 30 April 2020, the company had rental commitments of £42,787 to the end of the lease. |
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6. | POST BALANCE SHEET EVENTS |
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As with most businesses we have been impacted by Covid-19. This has had an impact on our operations, customers, suppliers and staff. We have (where appropriate) utilised the grants and benefits available from the Government and are taking all the steps we can to protect the future of our business. |
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The directors have also considered the effect of Brexit on the business but do not feel that there will be any major implications for the company. |
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Although the total impact of Covid-19 and Brexit are uncertain, the directors believe that it is appropriate to prepare the accounts on a going concern basis. |
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7. | SHARE-BASED PAYMENT TRANSACTIONS |
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The company operates an EMI Share Option Scheme. At 30 April 2020, there were options over 35,679 shares outstanding at an average price of £2.73. These vest on sale and are based on the profitability of the business. No options lapsed or were issued or exercised in the year. |