Registered number
03880725
eOffice 2000 Limited
Report and Accounts
31 December 2015
eOffice 2000 Limited
Registered number: 03880725
Directors' Report
The directors present their report and accounts for the year ended 31 December 2015.
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 1 February 2016 and signed on its behalf.
P. P. Mucelli
Director
eOffice 2000 Limited
Profit and Loss Account
for the year ended 31 December 2015
Notes 2015 2014
£ £
Turnover 2,099,311 1,700,182
Administrative expenses (1,794,047) (1,397,200)
Operating profit 2 305,264 302,982
Interest receivable 2,120 -
Interest payable 3 (544) (1,940)
Profit on ordinary activities before taxation 306,840 301,042
Tax on profit on ordinary activities - -
Profit for the financial year 306,840 301,042
eOffice 2000 Limited
Balance Sheet
as at 31 December 2015
Notes 2015 2014
£ £
Fixed assets
Intangible assets 4 4,375 8,225
Tangible assets 5 400,523 232,062
Investments 6 86,707 86,601
491,605 326,888
Current assets
Stocks - 15,040
Debtors 8 179,165 79,526
Cash at bank and in hand 7 278,104 237,266
457,269 331,832
Creditors: amounts falling due within one year 9 (266,948) (205,976)
Net current assets 190,321 125,856
Total assets less current liabilities 681,926 452,744
Creditors: amounts falling due after more than one year 10 - (77,658)
Net assets 681,926 375,086
Capital and reserves
Called up share capital 11 2,500,000 2,500,000
Profit and loss account 12 (1,818,074) (2,124,914)
Shareholders' funds 681,926 375,086
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 1 February 2016
eOffice 2000 Limited
Notes to the Accounts
for the year ended 31 December 2015
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 33.3% 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 2015 2014
£ £
This is stated after charging:
Depreciation of owned fixed assets 105,310 94,199
Amortisation of intangibles 6,030 6,752
Directors' remuneration 7,920 12,000
Pension costs 3,855 4,492
3 Interest payable 2015 2014
£ £
Interest payable 544 1,940
4 Intangible fixed assets £
Cost
At 1 January 2015 19,772
Additions 2,180
At 31 December 2015 21,952
Amortisation
At 1 January 2015 11,547
Provided during the year 6,030
At 31 December 2015 17,577
Net book value
At 31 December 2015 4,375
At 31 December 2014 8,225
5 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2015 995,435 20,000 1,015,435
Additions 273,771 - 273,771
At 31 December 2015 1,269,206 20,000 1,289,206
Depreciation
At 1 January 2015 778,373 5,000 783,373
Charge for the year 100,310 5,000 105,310
At 31 December 2015 878,683 10,000 888,683
Net book value
At 31 December 2015 390,523 10,000 400,523
At 31 December 2014 217,062 15,000 232,062
6 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 January 2015 62,815 23,786 86,601
Additions 5,413 10,434 15,847
Disposals (15,741) - (15,741)
At 31 December 2015 52,487 34,220 86,707
The company holds 20% or more of the share capital of the following companies:
Company Shares held
Class %
OpenOffices Limited Ordinary 90
Other investments 2015 2014
£ £
Other investments 34,220 23,786
Other investments comprise artworks held at cost.
7 Cash at bank and in hand
Cash at bank and in hand includes £182,938 of supplier deposits. Although these amounts are held by the Company access to and use of this cash is restricted.
8 Debtors 2015 2014
£ £
Trade debtors 6,170 9,999
Amounts owed by group undertakings and undertakings in which the company has a participating interest 29,838 -
Other debtors 143,157 69,527
179,165 79,526
Amounts due after more than one year included above - 89,000
9 Creditors: amounts falling due within one year 2015 2014
£ £
Trade creditors 24,127 30,318
Other taxes and social security costs 53,444 40,638
Other creditors 189,377 135,020
266,948 205,976
10 Creditors: amounts falling due after one year 2015 2014
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 77,658
11 Share capital Nominal 2015 2015 2014
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 2,500,000 2,500,000 2,500,000
12 Profit and loss account 2015
£
At 1 January 2015 (2,124,914)
Profit for the year 306,840
At 31 December 2015 (1,818,074)
13 Other financial commitments 2015 2014
£ £
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 21,994 318,000
within two to five years 416,791 66,036
438,785 384,036
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