Registered number
03880725
eOffice 2000 Limited
Report and Accounts
31 December 2014
eOffice 2000 Limited
Registered number: 03880725
Directors' Report
The directors present their report and accounts for the year ended 31 December 2014.
Principal activities
The company's principal activity during the year continued to be the provision of flexible office space and virtual office and online services.
Directors
The following persons served as directors during the year:
P. P. Mucelli
E. C. Ashley-Carter
M. Pang
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 27 January 2015 and signed on its behalf.
P. P. Mucelli
Director
eOffice 2000 Limited
Profit and Loss Account
for the year ended 31 December 2014
Notes 2014 2013
£ £
Turnover 1,700,182 1,432,271
Administrative expenses (1,397,200) (1,097,530)
Operating profit 2 302,982 334,741
Interest payable 3 (1,940) (8,928)
Profit on ordinary activities before taxation 301,042 325,813
Tax on profit on ordinary activities - -
Profit for the financial year 301,042 325,813
eOffice 2000 Limited
Balance Sheet
as at 31 December 2014
Notes 2014 2013
£ £
Fixed assets
Intangible assets 4 8,225 11,800
Tangible assets 5 232,062 182,677
Investments 6 86,601 16,426
326,888 210,903
Current assets
Stocks 15,040 15,040
Debtors 7 79,526 144,594
Cash at bank and in hand 237,266 200,652
331,832 360,286
Creditors: amounts falling due within one year 8 (205,976) (206,229)
Net current assets 125,856 154,057
Total assets less current liabilities 452,744 364,960
Creditors: amounts falling due after more than one year 9 (77,658) (290,916)
Net assets 375,086 74,044
Capital and reserves
Called up share capital 10 2,500,000 2,500,000
Profit and loss account 11 (2,124,914) (2,425,956)
Shareholders' funds 375,086 74,044
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
P. P. Mucelli
Director
Approved by the board on 27 January 2015
eOffice 2000 Limited
Notes to the Accounts
for the year ended 31 December 2014
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Office equipment & furniture 10% - 20% straight line
Intangible assets 5% straight line
Stocks
Stock is valued at the lower of cost and net realisable value.
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Operating profit 2014 2013
£ £
This is stated after charging:
Depreciation of owned fixed assets 94,199 55,079
Amortisation of intangibles 6,752 4,628
Directors' remuneration 7,680 12,000
Pension costs 4,492 4,661
3 Interest payable 2014 2013
£ £
Interest payable 1,940 8,928
4 Intangible fixed assets £
Cost
At 1 January 2014 16,595
Additions 3,177
At 31 December 2014 19,772
Amortisation
At 1 January 2014 4,795
Provided during the year 6,752
At 31 December 2014 11,547
Net book value
At 31 December 2014 8,225
At 31 December 2013 11,800
5 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2014 871,851 - 871,851
Additions 123,584 20,000 143,584
At 31 December 2014 995,435 20,000 1,015,435
Depreciation
At 1 January 2014 689,174 - 689,174
Charge for the year 89,199 5,000 94,199
At 31 December 2014 778,373 5,000 783,373
Net book value
At 31 December 2014 217,062 15,000 232,062
At 31 December 2013 182,677 - 182,677
6 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 January 2014 200 16,226 16,426
Additions 62,615 7,560 70,175
At 31 December 2014 62,815 23,786 86,601
The company holds 20% or more of the share capital of the following companies:
Company Shares held
Class %
OpenOffices Limited Ordinary 90
Other investments 2014 2013
£ £
Other investments 23,786 16,226
Other investments comprise artworks held at cost.
7 Debtors 2014 2013
£ £
Trade debtors 9,999 34,791
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 89,000
Other debtors 69,527 20,803
79,526 144,594
Amounts due after more than one year included above - 89,000
8 Creditors: amounts falling due within one year 2014 2013
£ £
Trade creditors 30,318 94,640
Other taxes and social security costs 40,638 39,296
Other creditors 135,020 72,293
205,976 206,229
9 Creditors: amounts falling due after one year 2014 2013
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 77,658 290,916
10 Share capital Nominal 2014 2014 2013
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 2,500,000 2,500,000 2,500,000
11 Profit and loss account 2014
£
At 1 January 2014 (2,425,956)
Profit for the year 301,042
At 31 December 2014 (2,124,914)
12 Other financial commitments 2014 2013
£ £
At the year end the company had annual commitments under non-cancellable operating leases as set out below:
Operating leases which expire:
within one year 211,990 318,000
within two to five years 207,123 66,036
419,113 384,036
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